Adani Group shares continue to fall for the second day in a row, sweeping via about $50 billion from market value in less than two sessions, conditioned by the recent Hindenburg Research report, in which noted that the group suffers from debt problems, and that some of its subsidiaries are valued at more than their intrinsic value was around 85%, as Hindenburg took short positions on the shares of these companies.
The Indian group is preparing to quote in judgment Hindenburg Research, following the issuance by questof the present report, which coincides with the opening of the subscription of the shares of Adani Enterprises. Sources indicate that the Abu Dhabi Investment Authority has acquired a 2.56% stake of the 18 million shares allocated to the institutional segment.
Interestingly, the offering price was set at the higher end of the price range, i.e. at 3,276 rupees (about $40) per share.
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