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Adani Market Loss Snowball to $100 Billion in Shelved Stock Selling

NEW DELHI (Reuters) – Shares of India’s Adani Group plunged on Thursday after market turmoil forced the conglomerate to abandon a significant $2.5 billion share offer, deepening its market losses to more than $100 billion and raising concerns about the potential systemic impact. The withdrawal of Al-Adani Company (ADEL.NS) The share sale was a dramatic …

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Gautam Adani is no longer the richest person in Asia as shares have deepened to $74 billion

Leave a Comment / Business / By Niko

BENGALURU (Reuters) – India’s Gautam Adani lost the title of Asia’s richest man on Wednesday, as his group’s shares plunged to $74 billion after a short-selling report. A report by Hindenburg Research last week alleged improper use of offshore tax havens while raising concerns about the high debt and valuations of seven Adani-listed companies. And …

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The sale of Adani's $2.5 billion shares faces a critical day after defeat

85% of Adani’s significant share sale is underwritten while institutions are injecting cash

Leave a Comment / Business / By Niko

MUMBAI (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion sale came close to being fully subscribed on Tuesday as investors poured cash after a turbulent week for his group, in which its shares plunged due to a scathing short-selling report. Sell secondary stock to Adani Enterprises (ADEL.NS) It was 85% subscribed on Tuesday, including the …

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India’s Adani has been criticized for losing $45 billion in shares, which has clouded a record share sale.

Leave a Comment / Business / By Niko

MUMBAI (Reuters) – Shares of India’s Adani Enterprises (ADEL.NS) It sank nearly 20% on Friday as a scathing report from a US short seller triggered a rout in the conglomerate’s listed companies, casting doubt on how investors will respond to the company’s record $2.45 billion in secondary sales. Seven companies included in the Adani Group …

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The Hindenburg sells complaints by India’s Adani Group, citing debt and accounting concerns

Leave a Comment / Business / By Niko

BENGALURU (January 25) (Reuters) – Hindenburg Research said on Wednesday it had held short positions in India’s Adani Group, accusing the group of improperly extensive use of entities set up in offshore tax havens and expressing concern about high debt levels. The report that comes days before a $2.5 billion Share offering by flagship company …

The Hindenburg sells complaints by India’s Adani Group, citing debt and accounting concerns Read More »