. has shelved a plan to raise as much as 10 billion rupees ($122 million) via its first-ever public sale of bonds following a market rout, according to people familiar with the matter. The flagship firm of Indian billionaire Gautam Adani’s empire had planned the public note issuance for January, working with ., , , … Read more
Veteran emerging-markets investor Mark Mobius said his firm didn’t participate in .’s stock sale before it was pulled as concerns about the debt of the Indian tycoon’s firms “scared us away.” “We were not interested in Adani companies because they did not meet our investment criteria, particularly as regards to debt,” Mobius said by email … Read more
Investment banks are set to receive about 1 billion rupees ($12 million) in total fees after helping Indian tycoon Gautam Adani pull off a closely watched follow-on share sale, according to people familiar with the matter. The fees are equivalent to around 0.5% of the 200 billion rupees raised in .’s offering, said the people, … Read more
and , the companies that recently came under Adani Group’s stable, saw heavy sell-off on Friday as traders dumped the entire group amid concerns over corporate misgovernance and stock manipulation allegations made by US-based short-seller and research firm Hindenburg Research. ACC shares tumbled 20% to a 21-month low of Rs 1,732.60 on the NSE, while … Read more
Middle Eastern investors including International Holding Co PJSC and Abu Dhabi Investment Authority are bidding to buy stock in the $2.5 billion follow-on share sale floated by Indian billionaire Gautam Adani’s flagship, according to people familiar with the matter. Mubadala Investment Co PJSC, SA have also bid, the people said, asking not to be identified … Read more