BENGALURU -- The Adani Group called off the $2.5-billion secondary share sale by its flagship company after a short seller's scathing allegations triggered a rout in the value of the conglomerate's stocks that deepened to around $85 billion on Wednesday.
Around a day after the offer was fully subscribed, the group's billionaire chairman Gautam Adani said in a statement to the stock exchange that the company's board "felt that going ahead with the issue will not be morally correct."
