Mumbai: Adani Group’s further share raising will end today. The stock rally ends today as the stock market continues to bear heavy losses. Although the target is to raise Rs 20,000 crore, there has been no significant response from the small investors so far. Adani Group managed to get only three percent subscription till yesterday.
But the Adani Group was relieved last night when International Holdings Company of Abu Dhabi announced that it would invest $400 million. Adani Group has faced a loss of five and a half lakh crore rupees from the stock market so far following the release of the Hindenburg report. At the same time, Adani slipped to eighth place in Forbes magazine’s list of richest people.
Adani Group plunged into severe financial crisis following the report released by Hindenburg, an American short-selling company. Hidenburg accused the Adani Group of exaggerating its share value.
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