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The
flagship firm of Indian billionaire Gautam Adani's empire had
planned the public note issuance for January, working with
Edelweiss Financial Services Ltd, AK Capital, JM Financial, and
Trust Capital, but activity has now stopped, the report said,
citing people familiar with the matter.
Adani Enterprises called off its $2.5 billion share sale in a
dramatic reversal on Wednesday this week, after a rout sparked
by a U.S. short-seller's criticisms wiped billions more off the
value of the Indian tycoon's stocks.
The Indian markets regulator is already investigating the
matter, including the crash in the company's shares, any
irregularities in the now-shelved share sale and any possible
price manipulation, Reuters reported this week.
A spokesperson for Adani Group did not immediately respond to
Reuters request for comment. Edelweiss, AK Capital also did not
respond to requests for comment, while JM Financial and Trust
Capital could not be reached.
A report by Hindenburg Research last week alleged improper use
of offshore tax havens and stock manipulation by the Adani
Group. It also raised concerns about high debt and the
valuations of seven listed Adani companies.
($1 = 82.2060 Indian rupees)
(Reporting by Jaiveer Singh Shekhawat in Bengaluru, Editing by
Alexandra Hudson, William Maclean)
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