Gautam Adani | Gautam Adani Looses
₹183,397 crore in just two Days.
The Hindenburg research report has
created turmoil in the stock market, and the loser is the Adani group of
companies.
India and Asia's richest Gautam Adani's
net worth plunged significantly in just in two days after a sharp fall in bonds
and stocks of the seven listed Adani group companies that free fall in two days
of business as Hindenburg, a well-known US short-seller, said key listed
companies in the group controlled by billionaire Gautam Adani had substantial
debt, which has put the entire group in danger situation.
As per the Forbes Billionaires list,
Gautam Adani lost about $22.5 billion (around ₹183,397 crore), down nearly
18.85%, in and his net worth currently stands at $96.8 billion as of January
27, 2023. The Forbes Billionaires list monitors the daily rankings of the
wealthiest people in the world. The figures are monitored and updated at the
close of every trading day in New York.
The Adani Group is considering legal
action against the US investor over its report alleging "brazen"
market manipulation and accounting fraud by Asia's richest man's empire. The
Adani Group, however, referred to the report on the group as "malicious
combination of selective misinformation and stale."
The publication of the report came at the
same time as Adani's impending follow-on public offer (FPO), which begins on
Friday and ends on January 31. Shares will be offered for sale in the range of
3,112 to 3,276 each. On Wednesday, the company's flagship Adani Enterprises
Ltd. said that it had secured $5,985 crore from anchor investors in preparation
for its FPO.
The largest port operator in India and
founder of the conglomerate Adani Group is 60 year old Gautam Adani a close
friend of Indian top politician. The infrastructure firm, which is based in
Ahmedabad, India, is also the largest trader and producer of closely regulated
thermal coal in that nation. His $13 billion Adani Group involves investments
in infrastructure, real estate, electricity generation, and commodities.
Adani Share Price
After closing of the share market, the Adani share were closed at:
Company Current
Price Loss
Adani Enterpris 2,761.45 -18.52%
Adani Ports 596.95 -16.29%
According to March 2022 stock exchange
records, he holds 75% of Adani Enterprises, Adani Power, and Adani
Transmissions. Additionally, he holds a 37% stake in Adani Total Gas, a 65%
stake in Adani Ports & Special Economic Zone, and a 61% stake in Adani
Green Energy.
The Indian industrialist dropped to
fourth place earlier this week on the list of the world's richest people as
Amazon's Jeff Bezos passed him to become the third-richest person on the
planet.
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