How related Mauritius based entities have played significant role in Adani Enterprises FPO?

Sebi is investigating relationships b/w Adani and two Mauritius-based firms

PS : These entities were not previously reported by Hindenburg

A thread🧵

#AdaniFPO #AdaniEnterprises
As per WSJ, 7 Mauritius companies collectively would have held 19.43% of the offering,

Let’s delve deeper into each of these entities and their connection
Here are 4 entities & their % of subscription to anchor book
1. Great International Tusker Fund (2.47%)
2. Ayushmat Ltd (2.32%)
3. Elm Park Fund (5.67%)
4. Aviator Global Investment Fund (1.25%)
Entity #1 Great India Tusker Fund: This entity and Vinod Adani led entities (holding co (Acropolis) of entity (Endeaour that bought ACC and Ambuja) has common director i.e. Shakill Toorabally. He also shares directorship with Subir Mittra who is CEO of Adani Family Office
Entity #2 Ayushmat : This Mauritius based co managed by a Mauritius based co, Rogers capital. Its director & key shareholder is Jayechund Jingeree, former director of Adani Global. Close aid of Vinod Adani & his UK firm was controlled by Dharmesh Doshi, Ketan Parekh’s partner
Entity #3 Elm Park Fund: It has common director with Ayushmat Ltd and has been involved in Sun Pharma stock rigging scheme as per whistleblower complaint to @MoneylifeIndia India in 2018
Entity #4: Aviator Global Investment Fund include Sardegno as senior mgt of the fund. His disappeared LinkedIn profile shows connection with Monterosa Group, largest stock parking entity as per Hindenburg. Has also ties with Vinod Adani led entities.
Apart from above 4 entities, these were two entities who were related to Adani Group and are Book Running Leading Managers to the FPO
Sebi is now investigating above Mauritius based entities and their connection with Adani & involvement in FPO
reuters.com/world/india/in…
Another interesting entity is IHC which boomed in last 5 years committed to invest $400 mn in FPO has curious history

ft.com/content/3690cc…
Interestingly, Adani Enterprises Anchor book allotment was not disclosed on Exchange filing section of the company. Though it was disclosed on Exchange's IPO section

Some of above Mauritius-based firms have invested in another obscure group that is Hinduja (HGS & HLF)

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