A blockbuster share sale by the flagship business of Indian billionaire Gautam Adani did little to stem a market rout in his companies, which plummeted again on Wednesday
by the flagship business of Indian billionaire Gautam Adani did little to stem a market rout in his companies, which plummeted again on Wednesday.
Adani Enterprises Ltd. , the crown jewel in Adani Group’s energy and infrastructure empire, lost more than a quarter of its value, saddling the investors that took part in its $2.5 billion follow-on public offering with large paper losses. The six other companies bearing Adani’s name fell between 2% and 20%, in some cases by the maximum amount allowed by India’s stock exchanges.
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