Adani Group lose billions in MCAP, Here is why 10 big setbacks
The Hindenburg report sparked a huge sell-off in shares in Adanis firms, wiping out more than 100 billion in market value as of Thursday, as per reports.
Index provider MSCI said on Saturday it is seeking feedback on Adani Group and associated securities after the Hindenburg report.
Adanipublished 413-page statement that it said rebutted all of Hindenburgs claims, calling it an attack on the growth story and ambition of India.
Adanis personal wealth has dived significantly in a week amid the Group stocks selloff, losing richest Asian and Indian man position to rival Mukesh Ambani.
Credit Suisse Group AG has stopped accepting bonds of Gautam Adani’s group of companies as collateral for margin loans to its private banking clients
Citigroup Inc.’s wealth arm has stopped accepting securities of Gautam Adani’s group of firms as collateral for margin loans.
Adani Enterprises FPO was cancelled even as the FPO was fully subscribed.
Bonds of the Indian billionaire’s flagship firm plunged to distressed levels in US trading
Reserve Bank of India RBI has asked lenders for details of their exposure to the Adani group, as per a Reuters report
Gautam Adani today, Feb 2, said that the group decided to call of the share sale to insulate investors from potential losses.
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