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

Sell-off in India's Adani deepens to $48bn after short-seller report

Conglomerate pushes ahead with secondary share sale to retail investors

The Adani Group has dismissed a short-seller report against it as "baseless."   © AP

BENGALURU -- A sell-off in shares of companies that are part of India's Adani Group deepened on Friday, with the stock losing a total of around $48 billion in value in the wake of an attack this week by a prominent U.S. short-seller.

That comes as Adani Enterprises -- the flagship company in the conglomerate controlled by Gautam Adani, one of the world's richest people -- pushes ahead with a secondary share sale that kicked off to retail investors on Friday.

Sponsored Content

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

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

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