WPL 2023: Mukesh Ambani Gautam Adani – Ahead of the inaugural edition’s Women’s Premier League (WPL), the Gujarat franchise have landed in huge trouble. Indian tycoon Gautam Adani suffered a rare defeat, and, also scrapped Follow-on-Public Offer (FPO) on Wednesday. In the process, Mumbai Indians owner Mukesh Ambani has now become the richest Asian, having a net worth of $82.7 Billion. Ambani is currently placed 10th on the Forbes billionaires list. Things could get worse for Adani, as he could also lose the Women’s team in WPL. Follow WPL 2023 Live Updates with InsideSport.IN.
Adani is placed 16th on the Forbes list with a $68.3 Billion net worth. The Business Tycoon had a drastic windfall owing $ 20000 Crores withdrawal of FPO.
WPL 2023: Gujarat Franchise in TROUBLE? Ahead of Inaugural Women’s Premier League, Indian TYCOON Gautam Adani suffers rare defeat, scraps FPO, NOW Fellow WPL owner becomes RICHEST Asian, Check OUT
WPL 2023: Are things getting worse for Adani? Share market rates keep plumbing down, Redemption for Ambani
For the unreserved, Gautam Adani brought WPL tea for a whopping amount of 1289 Crores. Mumbai Indians became the second richest team in WPL bagging the tender for 912 Crores. However, as things stand, the share market rates are plumbing down, and Adani has made it clear that they won’t go ahead with a 20,000-crore FPO. The company are set to return the proceeds to investors. In a statement, the business tycoon said emphasizing the interest of the investors is paramount.
“After a fully subscribed FPO, yesterday’s decision of its withdrawal would’ve surprised many. But considering the volatility of the market seen yesterday, the board strongly felt that it wouldn’t be morally correct to proceed with FPO.”
“For me, the interest of my investors is paramount & everything is secondary. Hence to insulate investors from potential losses we’ve withdrawn FPO. This decision will not have an impact on our existing operations and future plans. We’ll continue to focus on timely execution,” he added.
WPL 2023: No official announcement yet from Adani of scrapping of Gujarat franchise WPL team – As of now, there is no official announcement from Adani to scrap the WPL team. The business tycoon admitted that once the market stabilizes, the company would review the capital market strategy.
WPL 2023: Inaugural WPL auction set to be held on February 13
The suspense is over & InsideSport can confirm that the player auction for the inaugural edition of the Women’s Premier League (WPL) will be held in Mumbai on February 13. A top BCCI official present during the INDIA vs New Zealand 3RD T20 in Ahmedabad confirmed the development to InsideSport.
“Auction will be held in Mumbai on 13th Feb. Franchises are comfortable with the date and location, and it is easier for the BCCI as well to arrange for logistics in Mumbai. Official announcments will be made soon”, confirmed the top BCCI official.
WPL 2023: Gujarat Franchise in TROUBLE? Ahead of Inaugural Women’s Premier League, Indian TYCOON Gautam Adani suffers rare defeat, scraps FPO, NOW Fellow WPL owner becomes RICHEST Asian, Check OUT
