Bangalore Against the background of the attack by the US short seller Hindenburg, the Indian group Adani Enterprises canceled its capital increase with a volume of 2.5 billion dollars. The company announced on Wednesday that the funds would be returned to protect the interests of investors.
The billionaire Gautam Adani, owner of the widespread Adani Group, referred in a separate letter to the price fluctuations in the market. “Given these extraordinary circumstances, the company’s board felt it was morally wrong to go through with the raise.” The secondary listing was actually successful on Tuesday.
The shares of Adani Enterprises, which is seen as the center of the conglomerate, fell by more than a quarter in the middle of the week. Overall, the price losses of the Adani companies since the allegations were published by Wednesday evening added up to 86 billion dollars. Adani Ports and Special Economic Zone fell nearly 20 percent, while Adani Total Gas fell 10 percent.
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