Adani’s market losses swelled above $100bn on Thursday, sparking worries about a potential systemic impact a day after the Indian group’s flagship firm abandoned its $2.5bn stock offering.
The shock withdrawal of Adani Enterprises’s share sale marks a dramatic setback for founder Gautam Adani, the school dropout-turned-billionaire whose fortunes rose rapidly in recent years but have plunged in just a week after a critical research report by United States-based short-seller Hindenburg Research.
