Another challenge for Adani yesterday came when S&P Dow Jones Indices said it would remove Adani Enterprises from widely used sustainability indices, from February 7.In addition, India's National Stock Exchange said it has placed on additional surveillance shares of Adani Enterprises, Adani Ports and Ambuja Cements.
In a shock move late on Wednesday, Adani called off the share sale as a stocks rout sparked by Hindenburg's criticisms intensified, despite it being fully subscribed a day earlier. Adani is also no longer Asia's richest person, having slid to 16th in the Forbes rankings of the world's wealthiest people, with his net worth almost halved to $64.6 billion in a week.His rival Mukesh Ambani of Reliance Industries is now Asia's richest person.
Dollar bonds issued by entities of Adani Group extended losses, with notes of Adani Green Energy crashing to a record low. Adani made acquisitions worth $13.8 billion in 2022, Dealogic data showed, its highest ever and more than double the previous year.