Shares in India's Adani group of companies plunged after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, citing the need to insulate investors from potential losses
the share sale as a rout sparked by a U.S. short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.
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Gautam Adani, one of India's most powerful men, suffers a rare defeatIndia's Gautam Adani, the school dropout who rose to become one of the world's richest men, suffered a stunning defeat on Wednesday when his flagship firm withdrew a blockbuster share sale after an attack by a small U.S. investment firm over his business practices.
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Breakingviews - Gautam Adani’s next hurdles may be harder to clearIt helps to have friendly investors and rich families on hand when finalising a tricky share sale. These groups dragged Gautam Adani’s $2.4 billion capital call across the finish line on Tuesday, despite a selloff triggered by Hindenburg Research’s short attack.
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Breakingviews - Breakingviews: Gautam Adani’s next hurdles may be harder to clearIt helps to have friendly investors and rich families on hand when finalising a tricky share sale. These groups dragged Gautam Adani’s $2.4 billion capital call across the finish line on Tuesday, despite a selloff triggered by Hindenburg Research’s short attack.
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Controversy Embroiled Gautam Adani Loses Asia’s Richest Title To Mukesh AmbaniGautam Adani on Wednesday slipped to the 10th spot of Forbes’ real-time billionaire’s list, falling behind fellow Indian billionaire Mukesh Ambani.
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Gautam Adani no longer Asia's richest person as stock rout deepens to $74 billionIndia's Gautam Adani lost his title of Asia's richest person on Wednesday as a rout in his conglomerate's stocks deepened to $74 billion after a short-seller report.
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