Bankers on Adani’s $20,000 billion share sale are considering a delay and a price reduction following a decline in the stock market

According to three persons familiar with the transaction, bankers on the $2.5 billion share sale of India’s Adani Enterprises are debating whether to extend the offer or lower the issue price after the stock fell following a report from a U.S. short seller.
According to sources who spoke to Reuters on Saturday, one of the alternatives the bankers are exploring is to extend by four days the Tuesday deadline for subscriptions to the issuance.
Since Hindenburg Research on Tuesday raised worries about debt levels and the use of tax havens, seven listed firms of the conglomerate controlled by one of the richest men in the world, Gautam Adani, have lost a combined $48 billion in market value.
This news was written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.


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