Even after scrapping share offering, Indian billionaire insists fundamentals are ‘very strong’
MUMBAI: The business empire of under-fire Indian tycoon Gautam Adani has lost more than $100 billion in value over the past week as shares in several firms plunged again on Thursday, a day after the group cancelled a multi-billion-dollar public offering.
The billionaire’s sprawling conglomerate has been thrown into turmoil following explosive allegations of accounting fraud on Jan 24 by the US short-seller Hindenburg Research.
Shares in the group’s flagship Adani Enterprises dived 14% — having lost almost…
