Seven Adani Group stocks have lost a combined $48 billion in market value since Hindenburg Research on January 24 flagged concerns about debt levels and the use of tax havens.
January 28, 2023 / 03:26 PM IST
The sale is being managed by Jefferies, India’s SBI Capital Markets, and ICICI Securities among others
Bankers on the $2.5 billion (Rs 20,000 crore) share sale of Adani Enterprises are considering extending the sale or cutting the issue price after shares plunged on a US short seller’s report, said three people familiar with the deal.
Among the options the bankers are considering are to extend the Tuesday closing date for the subscription of the issue by four days, the sources told Reuters on Saturday.
Seven listed companies of the conglomerate controlled by one of the world’s richest men, Gautam Adani, have lost a combined $48 billion in market value since Hindenburg Research on Tuesday (January 24) flagged concerns about debt levels and the use of tax havens.
The Adani Group has called the report baseless and said it was considering taking action against Hindenburg.