Reply To: What’s Next for Adani Group After Short Seller Hindenburg Report Wipes Out Over $50 Billion in Market Value


Shares of six of the seven companies bearing Adani’s name extended their losses on Monday on India’s domestic market.

Adani Total Gas Ltd. and Adani Green Energy Ltd. each fell 20%—the maximum single-day decline permitted by the exchange for those stocks.

The seven companies have now lost the equivalent of around $64 billion in market value since last Tuesday’s close, according to FactSet data.

Adani Enterprises Ltd. , which is pushing ahead with a large follow-on public stock offering, bucked the trend with a 4.2% gain, but its shares remained below the price floor for the deal. Retail subscriptions for the offering, which the company is hoping will raise the equivalent of $2.5 billion, are scheduled to close on Tuesday.