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Reuters
Reuters
Business
By Jayshree P Upadhyay and Chris Thomas

Indian regulator looking into $86 billion Adani share wipeout

Gautam Adani Asia Hindenburg Adani Group Adani Enterprises Ambareesh Baliga India Adani Total Gas Credit Suisse
Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. REUTERS/Amir Cohen

India's market regulator is examining a rout in the shares of billionaire Gautam Adani's companies, a source with direct knowledge told Reuters, as the losses triggered by a scathing U.S. short-seller report ballooned on Wednesday to $86 billion.

The Securities and Exchange Board of India (SEBI) is also looking into several of the allegations made by Hindenburg Research, and into any potential irregularities in a key share sale by the flagship Adani Enterprises on Tuesday, the source said, speaking on condition of anonymity.

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