Jan 24: US-based Hindenburg Research releases report on Adani Group companies
Report accuses the group of accounting fraud, stock manipulation, money laundering
Impact: M-cap of Adani Group companies start eroding sharply
Jan 27: Rs 2.37 lakh crore is wiped off in 2 days after the report surfaces
Feb 1: The group withdraws its Rs 20,000 cr FPO
FPO is fully subscribed despite the sharp fall in share price of group companies
Feb 3: Over Rs 10 lakh cr wiped off from the group’s market capitalisation
Jan 29: Adani Group’s response calls the report “nothing but a lie”
LIC, SBI say they are not “over-exposed” to Adani shares
This story is from the February 25, 2023 edition of Business World India.
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This story is from the February 25, 2023 edition of Business World India.
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