Large Investors Pull Adani Enterprises' Share Sale Through After Stock Rout
NDTV
The success of India's biggest follow-on public offer (FPO) is the first reprieve in a tough week for the sprawling business empire of Gautam Adani -- still Asia's richest man despite a bruising $36 billion hit to his personal fortune
Adani group's share sale exceeded its subscription targets today, days after a US short-seller alleged "brazen" corporate fraud that wiped more than $65 billion off its value.
The success of India's biggest follow-on public offer (FPO) is the first reprieve in a tough week for the sprawling business empire of Gautam Adani -- still Asia's richest man despite a bruising $36 billion hit to his personal fortune.
Large institutional investors swooped in on the offer's final day, even as some of the firm's listed companies were hammered in trade and smaller retail investors steered clear.
"Thank you for the support provided in making the Adani FPO a success during the most unprecedented and challenging times," a public relations representative for the conglomerate said in a statement.
