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.
