ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Adani Group

Adani share issue fully subscribed despite short-seller attack

Foreign investors back secondary sale overshadowed by recent stock plunge

Adani Enterprises successfully raised $2.5 billion in a follow-on share sale despite a torrid few days during which shares in group companies lost $65 billion triggered by a scathing report by Hindenburg Research.    © Reuters

BENGALURU -- A $2.5 billion share sale by the flagship company in India's Adani Group was fully subscribed on Tuesday, boosted by bids from corporates and foreign institutions on its final day despite the fallout from a short-seller attack on the conglomerate last week.

The successful completion of the follow-on fundraising offers some welcome relief to the group -- controlled by Gautam Adani, one of the world's richest people -- after a scathing report by Hindenburg Research sparked a rout in the stock of many of its companies, wiping off around $65 billion in market value.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more