$90 Billion Collapse of Billionaire Adani’s Empire

The break was short, very short. 

Accusations of fraud, stock-market manipulation and illegal practices made by the New York short-seller Hindenburg Research against Adani Group, the conglomerate of Indian billionaire Gautam Adani, were prominent business headlines on Feb. 1 after a slight break the day before.

The stock-market rout of Adani Group has resumed after a pause on Jan. 31 during which Adani Enterprises, the flagship company of this empire, managed to end the trading session higher. 

On the same day, Adani Enterprises successfully completed a $2.5 billion share sale aimed at attracting the general public and foreign investors. And signs of optimism appeared, even as only 10% of the shares had been bought by retail investors and employees of the company. Adani Enterprises was targeting these individual investors from the outset of the offering.

Source: https://www.thestreet.com/technology/90-billion-collapse-of-billionaire-adanis-empire?puc=yahoo&cm_ven=YAHOO&yptr=yahoo