The growth trajectory of the underlying businesses of Adani Group has not been affected by the Hindenburg Research report that sparked a $48 billion rout in its stocks, Chief Financial Officer Jugeshinder Singh said on Monday.
Speaking to local media, Singh said retail subscription would see "some pull back" in a $2.5 billion secondary share sale of the group's flagship company, Adani Enterprises.
Speaking to local media, Singh said retail subscription would see "some pull back" in a $2.5 billion secondary share sale of the group's flagship company, Adani EnterprisesUnited States Latest News, United States Headlines
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MSCI seeks feedback on Adani Group over Hindenburg reportIndex provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research.
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Adani Group: Hindenburg report intended to create false marketIndia's Adani Group said on Sunday that a Jan. 24 report by short seller Hindenburg Research that led to a $48 billion rout in its stock was intended to create a false market to enable the short seller to book gains.
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Breakingviews - Breakingviews: Adani’s financing safety-net rests on Indian banksGautam Adani’s financing options are narrowing fast. Investors wiped $48 billion off the Indian tycoon’s listed companies in just two days last week; his flagship Adani Enterprises lost 19% of its value on Friday alone. While the nationally important ports-to-power-to-roads group should be able to manage its interest bill, the selloff blows apart Adani’s plans to tap global capital markets. That leaves it dependent on a safety net provided by Indian banks.
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Exclusive: Bankers on Adani $2.5 bln share sale consider delay, price cut after routBankers on the $2.5 billion share sale of India's Adani Enterprises are considering extending the sale or cutting the issue price after shares plunged on a U.S. short seller's report, said three people familiar with the deal.
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Exclusive: India's Adani says $2.5 billion share sale on track even as bankers mull changesBankers may extend the sale or cut the issue price, sources said. Seven Adani companies have lost a combined $48 billion in market value since a research report flagged concerns about debt levels and their use of tax havens.
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Hindenburg report crushes Adani empire: $52 billion evaporate in a weekU.S. investor Hindenburg Research has released a report and a statement accusing Indian conglomerate Adani Group of being the “biggest con in corporate history.'
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