Adani Enterprises Ltd shelves a plan to raise as much as $122 million via its first-ever public sale of bonds following a market rout – Bloomberg
Chairman Gautam Adani has lost his title of Asia's richest man after a $100 billion rout in shares of his listed companies sparked by Hindenburg Research's scathing report.
The flagship firm of Indian billionaire Gautam Adani's empire had planned the public note issuance for January, working with Edelweiss Financial Services Ltd, AK Capital, JM Financial, and Trust Capital, but activity has now stopped, the report said on Saturday, citing people familiar with the matter.
The Indian markets regulator is already investigating the matter, including the crash in the company's shares, any irregularities in the now-shelved share sale and any possible price manipulation, Reuters news agency reported this week.
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Some of Wall Street's biggest names are exposed to the Adani Enterprises plungeShares of India's Adani Enterprises have plummeted over the past week after the publication of an extensive critical report from U.S. short-seller Hindenburg Research.
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Adani vs Hindenburg: Adani's wealth tanked $52 billion in 6 daysGautam Adani lost $52 billion in 6 days. That's over 3 times what Sam Bankman-Fried lost in a similar timeframe.
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India's NSE puts trades in some Adani firms under additional watchIndia's National Stock Exchange on Thursday said it has placed on additional surveillance shares of Adani Enterprises , Adani Ports and Ambuja Cements .
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