The Adani Group has called the report baseless and said it was considering taking action against Hindenburg.
Friday's 20% fall in shares of group flagship Adani Enterprises dragged it 11% below the minimum offer price of the secondary sale. Investors, mostly retail, had bid for around 470,160 of the 45.5 million shares on offer, stock exchange data showed.The other option being considered by bankers is lowering the price, the sources said, with one saying it could be cut by as much as 10%.
The sale is being managed by Jefferies, India's SBI Capital Markets, and ICICI Securities, among others. They did not immediately respond to requests for comment.
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Source: Reuters - 🏆 2. / 97 Read more »
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India's Adani kicks off $2.45 bln share sale while under short-seller attackIndia's Adani Enterprises Ltd began a record $2.45 billion secondary share sale for retail investors on Friday, as a heavy selloff in Adani group companies intensified after an attack by a U.S.-based short seller.
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Source: Reuters - 🏆 2. / 97 Read more »