Adani Speaks About Turmoil for First Time After Scrapping Share Sale
- Crisis in market confidence has battered Adani Group stocks
- Hindenburg Research has accused Adani of widespread fraud
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Embattled billionaire Gautam Adani said his ports-to-power conglomerate would examine its capital market plans after abruptly pulling his flagship firm’s $2.5 billion domestic stock offering following fraud allegations made by short-seller Hindenburg Research.
“Once the market stabilizes, we will review our capital market strategy,” the 60-year-old tycoon said in a recorded video address to investors released on Thursday. “This decision will not have any impact on our existing operations and future plans. We will continue to focus on timely execution and delivery of projects.”