India: Adani scraps $2.5 billion share sale as value of his empire collapses

Sudipta Das

A person checking the Adani website on his mobile in Kolkata. Adani group companies have lost market capitalization of over Rs 7 lakh crore after a US-based Hindenburg Research report accused the group of “brazen stock manipulation and accounting fraud.” Bank stocks were also hit following the plunge in Adani stocks.