Adani GroupAdani calls off $2.5bn share sale in latest blow
Move comes after short-seller attack wiped off $85bn from group stocks
U.S.-based Hindenburg Research has taken short positions in Adani companies as well as making a host of allegations against the conglomerate, including "brazen stock manipulation and accounting fraud." © Getty Images
SAYAN CHAKRABORTY, Nikkei staff writer
February 2, 2023 03:34 JST
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.