Pedestrians walk past a screen displaying news on the Adani Group at the Bombay Stock Exchange in Mumbai. (Photo: AFP)
MUMBAI: Investors dumped more Adani shares on Tuesday, deepening the carnage at India’s biggest conglomerate which has already lost around $70 billion in value after allegations of “brazen” corporate fraud.
The latest losses came as a stock sale aimed at raising $2.5 billion was due to close later in the day, with only 21% of the offer subscribed by midday, according to the firm.
Founder Gautam Adani, 60, was the world’s third-richest person last week but has slipped to eighth position on Forbes’ tracker after his personal fortune lost more than $36 billion since.
Shares in Adani Total Gas saw the biggest fall on…
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