NSDL finally rectifies status of Adani group-linked FPI

NSDL finally rectifies status of Adani group-linked FPI
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The National Services and Depository (NSDL) has finally changed its website entries to rectify an error.

This pertains to the Adani Group and three foreign portfolio investors (FPIs). These had led to confusion in the stock markets and caused volatility in the price of Adani group shares.

As per the recent changes made to the NSDL website, only those Demat accounts of the three FPIs, including Albula Investment Fund, Cresta Fund, and APMS Investment Fund, were frozen that had links to the Global Depository Receipt (GDR) issuance matter.

Now NSDL has added GDR in front of the names of these three FPIs, mentioned in the list of frozen accounts.

GDR is an instrument issued by Indian companies to raise money in foreign countries. After SEBI investigated GDR issuances, it claims to have found that several companies were using these instruments to prop up share prices and money laundering.

After this, the NSDL had frozen several Demat accounts involved in or were holding GDR related shares.

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