Adani share price

The cancellation of the offering is a blow to the company and its billionaire owner, Gautam Adani.

But after its share price fell so far below the offering price, Adani Enterprises quickly scrapped the sale, telling the National Stock Exchange of India And the rise in shares of an Adani subsidiary led to speculation that the stock was being manipulated. The sale, which was announced before the Hindenburg report was released, was intended to bring in foreign investors. The Hindenburg report criticized the ownership structure of Mr. The share price for Adani Enterprises, for example, had risen 3,000 percent over the last five years. Adani’s company, claiming that offshore shell companies run by his older brother, Vinod Adani, helped the conglomerate manipulate its share prices. Hindenburg has taken on about 30 companies and made its name when it raised evidence of fraud at Nikola, the electric vehicle maker, which led to the ouster and conviction of But his personal fortune continues to shrink amid a sell-off that’s hobbling his business empire and his big growth ambitions. His company was investigated on allegations of tax impropriety related to imported equipment and coal, but was eventually cleared. “The market has been unprecedented, and our stock price has fluctuated over the course of the day,” Mr. Hindenburg is what’s known as an activist short seller, an investor that takes aim at companies it suspects of fraud and exposes the wrongdoing. Shareholders in these companies have seen more than $90 billion in market value wiped out since the investment firm

Gautam Adani, one of Asia's richest people, has seen his firms lose more than $90bn in market value.

"This decision will not have any impact on our existing operations and future plans." Adani Group has hit back at the allegations against it and said it was evaluating "remedial and punitive action" against Hindenburg Research in the US and India. He was third on the list last week. After the market closed, Adani Group said the company would return the share sale proceeds due to "the unprecedented situation and the current market volatility". The report came days ahead of a planned sale of Adani shares to the public, and on Tuesday, the $2.5bn share sale in the group's flagship company managed to scrape through to be fully subscribed despite the controversy. It also alleged the Adani Group had engaged in decades of "brazen" stock manipulation and accounting fraud, and claimed its companies had "substantial debt" which put the entire group on a "precarious financial footing".

Adani Enterprises has called off its $2.4bn equity fundraising in the latest blow to Indian billionaire Gautam Adani, who has seen shares in his industrial ...

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Adani Ports & Special Economic Zone or APSEZ's 3.375% bond due in July 2024 fell the most in global secondary markets on Wednesday.

The crisis engulfing Gautam Adani is worsening as his conglomerate's shares and bonds tumble to new lows, heightening concern about the Indian billionaire's ...

After drawing money from the Middle East and other Indian billionaires to shore up a $2.4 billion share sale, he then abruptly pulled it late Wednesday to protect investors. [Gautam Adani](https://www.bloomberg.com/news/articles/2023-02-02/adani-in-crisis-as-bonds-hit-distressed-levels-stock-sale-axed)’s businesses have lost $107 billion in a week, one of the biggest wipeouts in history, after an explosive report by short-seller Hindenburg Research shook his empire, forced him to pull a [stock sale](https://www.bloomberg.com/news/articles/2023-02-01/adani-s-flagship-firm-pulls-2-4-billion-share-sale-amid-selloff) at the 11th hour and had some lenders reject his securities as collateral.

Indian billionaire Gautam Adani broke his silence and defended his industrial empire despite a cancelled $2.4bn share sale in the wake of a short-seller ...

For a full comparison of Standard and Premium Digital, click here. You'll enjoy access to several newsletters including FirstFT, a daily newsletter with the global stories you need to know as well as Editor's Choice, a weekly newsletter featuring the editor's favourite stories. Access our essential offering with over 600 journalists in 50+ countries covering markets, politics, business, tech and more.