India's Adani kicks off record $2.45b share sale
Dhaka, Jan. 27 -- India's Adani Enterprises Ltd began a record $2.45 billion secondary share sale for retail investors on Friday, days after the Adani conglomerate - controlled by one of the world's richest men - was attacked by a short seller.
Adani Group firms lost $11 billion in market capitalisation on Wednesday after New York-based Hindenburg Research flagged concerns in a report about debt levels and the use of tax havens. Adani Group dismissed the report as baseless, reports Reuters.
Adani Enterprises, the flagship company of a conglomerate led by world's fourth-richest man, Gautam Adani, aims to use the share sale proceeds for capital expenditure and to pay debt. The anchor portion of the sale saw participation from investors in...
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