The investments come from their personal funds and do not involve listed businesses that they helm such as JSW Steel and Bharti Airtel
At least two of India’s biggest business families participated in Adani Enterprises’ $2.5bn share sale, according to people familiar with the matter, in a sign of solidarity with Gautam Adani as the tycoon fights short-seller allegations that sent the value of his empire plummeting.
Tycoons Sajjan Jindal and Sunil Mittal subscribed to the follow-on offering in a last-minute push that helped Adani’s flagship firm complete the sale on Tuesday, said the people, who asked not to be identified as the information was not public. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shah Rukh Khan's 'Pathaan' smashes Indian box office recordsSuperstar Shah Rukh Khan thanked fans Monday after his new film 'Pathaan' smashed Indian box office records following its release last week, bringing hope to Bollywood after a spate of weak showings.
Read more »
Emergency plan to force Indian power plants to import coal is good news for SA | BusinessPurported plans by the Indian government to force power plants to maximise output amid an anticipated electricity crunch spells good news for South African coal miners. | News24_Business
Read more »
Sun shines brighter for Indian camel herders with solar-powered milk chillersRising temperatures due to climate change no longer spoil camel-milk income for herders in Thar Desert, India
Read more »
Adani Group rides out short-selling storm$2.5bn share sale of flagship Adani Enterprises fully subscribed as Indian billionaire seeks to ease debt burden
Read more »
Adani companies lose $65bn in value amid feud with US short-sellerIndian group Adani, locked in battle with Hindenburg Research, hits back at report that raised concern about its debt and the use of tax havens
Read more »
BUSINESS REFLECTION: After the Bell: The Adani Group and the ancient art of pooping and scoopingThe Indian stock market has seen the golden rules of ‘poop and scoop’ and ‘pump and dump’ applied at such a scale that it’s mind-boggling.
Read more »