Companies of Indian conglomerate Adani Group have now seen $105 billion wiped off their market capitalization, extending a slide after a critical report from a U.S. short-seller that the Indian company insists are “bogus.”
The most recent share-price slide came after it cancelled a $2.5 billion secondary share sale of Adani Enterprises. The share sale garnered some support from well-known Indian family businesses but the group said in a statement to the stock exchange that it would be returning the proceeds from the sale.
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