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As many as seven <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-group" source="keywords">Adani group</keyword> stocks ended lower on Friday as the Swiss authorities froze USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied. Shares of <keyword id="19934911" type="General" weightage="20" keywordseo="Adani-Power" source="keywords">Adani Power</keyword> dropped 2.73 per cent, Adani Energy Solutions declined 2.42 per cent, Adani Ports slipped 1.37 per cent, Adani Green Energy went lower by 1.17 per cent, Adani Enterprises dipped 0.76 per cent, Adani Total Gas (0.55 per cent) and Adani Wilmar (0.37 per cent) on the BSE. However, three group firms managed to settle in the green. The stock of <keyword id="19963163" type="General" weightage="20" keywordseo="ACC" source="keywords" meta.keywordsubtype="org" meta.entityname="ACC" meta.hostid="261" meta.entityid="ACC">ACC</keyword> jumped 1.94 per cent, NDTV climbed 1.01 per cent and <keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> (0.01 per cent). During the day, shares of Adani Power tumbled 3.20 per cent, Adani Energy dived 2.75 per cent, Adani Green declined 1.53 per cent, Adani Ports went down by 1.51 per cent, Adani Enterprises fell 1.18 per cent, Adani Wilmar (1.07 per cent), Adani Total (0.89 per cent), NDTV (0.57 per cent), Ambuja Cements (0.54 per cent) and ACC (0.46 per cent). Swiss authorities have frozen USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of money laundering probe, suspecting he may be a frontman from the Adani group -- a charge the conglomerate vehemently denied saying it was neither involved in any Swiss court proceedings nor any of its accounts are subject to sequestration. US-based short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword>, which had last year targeted the Adani group in a damning report that led to wiping away of USD 150 billion in market value of listed firms of the conglomerate in the following weeks, in a post on X cited "newly released Swiss criminal records reported by Swiss media outlet" to state that "Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021." "Prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius &amp; Bermuda funds that almost exclusively owned <keyword id="20372802" type="General" weightage="20" keywordseo="Adani-stocks" source="keywords">Adani stocks</keyword>," it said citing the report. Adani group rejected the allegations as baseless, saying it had no involvement in any Swiss court proceedings. "We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority," it said. The Swiss media outlet Gotham City in its report stated that a ruling by the Federal Criminal Court (FCC) reveals that the Geneva Public Prosecutor's Office was investigating alleged wrongdoing and more than USD 310 million belonging to an alleged frontman for billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> have been sequestered in five Swiss banks over the last three years. The Swiss investigators suspect that the associate, Chang Chung-Ling, is not the ultimate beneficial owner (UBO) of the company under investigation, but a mere front. The Adani Group, however, said that the court order was not linked to them and they have not been mentioned in it. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

Business conglomerate <keyword id="6367820" type="ORGANIZATION" weightage="20" keywordseo="adani-group">Adani Group</keyword>'s edible oil firm <keyword id="236770" type="COMPANY" weightage="20" keywordseo="Adani-Wilmar">Adani Wilmar</keyword> on Monday filed draft papers with markets regulator <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">Sebi</keyword> to launch its initial public offer (IPO) to raise up to Rs 4,500 crore for funding its expansion. Adani Wilmar, an equal joint venture between Adani Group and Singapore-based Wilmar, was formed in 1999. It sells cooking oils under the <keyword id="27145" type="COMPANY" weightage="20" keywordseo="Fortune">Fortune</keyword> brand as well as various other food products like rice and sugar. The company, which aims to become a major <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> player, has an annual turnover of more than Rs 30,000 crore. In a regulatory filing, Adani Enterprises said <keyword id="4093966" type="COMPANY" weightage="20" keywordseo="adani-wilmar-ltd">Adani Wilmar Ltd</keyword> (<keyword id="3020883" type="ORGANIZATION" weightage="20" keywordseo="AWL">AWL</keyword>) has filed Draft Red Herring Prospectus (DRHP) with Sebi for its IPO. "The proposed listing of AWL on the stock exchanges will comprise an IPO in the form of fresh issue of new equity shares by AWL for an amount of up to Rs 45,000 million (approximately $600 million)," Adani Enterprises said. "There will not be any secondary offering," said Adani Enterprises, the flagship firm of the Adani Group. Adani Wilmar proposes to use the net proceeds to expand its existing manufacturing plants, set up new facilities, repayment/prepayment of borrowings, fund strategic acquisitions and investments, and general corporate purposes. "The proposed listing is intended to further the growth of AWL's operations by increasing its market visibility and awareness among current and potential customers," the filing said. "As there is no assurance that the Proposed Listing will proceed, shareholders and potential investors are advised to exercise caution when dealing with the securities of the company," Adani Enterprises said. In November last year, Gujarat-based Adani Wilmar completed 20 years of operations of its flagship 'Fortune' brand. AWL's deputy CEO Angshu Mallick had said the company's revenue is more than Rs 30,000 crore, of which edible oil business contributes around Rs 24,000 crore. Currently, six Adani Group companies are listed on domestic bourses. Apart from Adani Enterprises, other listed ones are Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone. Adani Wilmar also sells soap, handwash and hand-sanitisers. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

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Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

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Adani Group firm Adani Wilmar to raise ₹4,500 crore via IPO

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