sank nearly 20% on Friday as a scathing report by a U.S. short seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.45 billion secondary sale.
The rout took shares of Adani Enterprises, the group's flagship company, well below the offer price of its secondary sale which kicked off on Friday. With a net worth of $97.6 billion, billionaire Gautam Adani is now the world's seventh richest man, according to Forbes, slipping from the third position he held before the Hindenburg report.
The billionaire hails from the western state of Gujarat, the home state of Prime Minister Narendra Modi. India's main opposition Congress party has often accused Adani and other billionaires of getting favourable policy treatment from Modi's federal administration.
Source: News Formal (newsformal.com)
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Adani Enterprises' $2.5 bln share offering oversubscribed by anchor investors, source saysAdani Enterprises Ltd' $2.45 billion secondary share offering was subscribed 1.5 times by anchor investors, with bids from high profile names such as Abu Dhabi Investment Authority (ADIA), a source told Reuters on Wednesday. because they sport pkk/ ypg teror
Source: Reuters - 🏆 2. / 97 Read more »
Adani Group Weighs Legal Action Against Hindenburg After Listed Shares Take Major HitThe group’s founder Gautam Adani dropped to fourth on Forbes' list of the world’s richest people, as the conglomerate’s listed companies continue to be hit by a selloff. Hindenburg also wants them to take legal action. What a threat ! But Truth is powerful
Source: Forbes - 🏆 394. / 53 Read more »
Adani Group Weighs Legal Action Against Hindenburg After Listed Shares Take Major HitThe group’s founder Gautam Adani dropped to fourth on Forbes' list of the world’s richest people, as the conglomerate’s listed companies continue to be hit by a selloff. If the investigation is in India, verdict is predictable. He will do no such thing because a court will bring even more things to the fore though discovery adanigroup courts in US probably have more integrity and atleast not as casteist as indian judiciary Everyone knows he is a crook in india, but since he funds a political party, he is off limits from every institution. The Hindus believe that the hindu might remain they need money, but they forget that it is they who are bein fckd and they feel pride in it.
Source: Forbes - 🏆 394. / 53 Read more »
Adani Group fallout drags Indian shares to 3-month lowIndian shares fell more than 1% to a three-month low on Friday, as banks continued to lead the market lower along with Adani Group companies in the wake of a short-seller attack on the conglomerate.
Source: Reuters - 🏆 2. / 97 Read more »
Adani shares plunge further as it weighs legal action against short seller firmAdani Group companies' stock prices dropped for a second consecutive trading session after Hindenburg announced its short position in the conglomerate's firms. Should've shorted this when I heard about it. Oh well. Hindenburg exposed Adani Modi's fake 5 trillion dollar model. Its not based on structural reform, fundamentals or sound Industrial policy but on ponzi & zombie scheme for inflating stock markets putting at risk capital of both onshore & offshore investors on pretext of Infra Hindenburg exposed Adani Modi's fake 5 trillion dollar model. Its not based on structural reform, fundamentals or sound Industrial policy but on ponzi & zombie scheme for inflating stock markets putting at risk capital of both onshore & offshore investors on pretext of Infra
Source: CNBC - 🏆 12. / 72 Read more »
Adani Group shares slide further as Hindenburg row heats up By Investing.com*SHARES OF INDIA'S ADANI GROUP PLUNGE FURTHER AS HINDENBURG ROW HEATS UP 🇮🇳🇮🇳 Hope none of the bigger banks is invested in Adani group. $gs $jpm $bac $c $cs $blk
Source: Investingcom - 🏆 450. / 53 Read more »