Adani himself has seen his fortune plummet by tens of billions of dollars, dumping him out of the real-time Forbes rich list top 10 and depriving him of his title as Asia's richest person.meant to help reduce debt levels - long a concern - restore confidence and broaden its shareholder base.
Big banks including Credit Suisse and Citigroup have stopped accepting Adani bonds as collateral for loans to private clients, according to Bloomberg News. That fuelled worries about how Adani will raise fresh funds, with Adani dollar bonds trading at distressed levels and signs of contagion in Indian markets increasing, Bloomberg reported.
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