The flagship company of the Indian rich man Adani was accused of large-scale accounting fraud. The stock price collapsed once more on the 1st, causing Adani to lose more than US$40 billion (regarding NT$1.196 billion) and fell out of the Forbes (Forbes) global ranking. Top ten richest list.
Agence France-Presse reported that Adani Enterprises (Adani Enterprises) plunged 30% in the minutes before the Mumbai market closed, the fifth consecutive day of losses.
Bloomberg reported that the market value of Adani Group’s listed companies has evaporated by regarding US$92 billion since last week.
According to the Forbes Instant Rich List, Gautam Adani lost more than 40 billion US dollars in personal wealth, and his net wealth came to 76.8 billion US dollars, which is lower than Ambani, chairman of Reliance Industries Ltd, who ranks 9th in India. Mukesh Ambani’s US$83.6 billion fell to 15th in the global rich list, which means that Adani is no longer the richest man in Asia.
Adani Total Gas’s stock market in Mumbai fell another 10% on the 1st, and was forced to suspend trading shortly following the opening. France’s TotalEnergies holds a 37.4% stake in the company.
Although Adani Enterprises’ stock capital increase on the 31st was oversubscribed, the stock price still fell sharply on the 1st. Small investors and retail investors mostly avoided subscription.
Citing unnamed sources, Bloomberg reported that big buyers such as Indian tycoons Sajjan Jindal and Sunil Mittal were instead supporting Adani Enterprises’ capital increase share issue.
Before the U.S. short-selling agency Hindenburg Research (Hindenburg Research) released an investigation report last week, accusing Adani Group of “recklessly engaged in stock price manipulation and accounting fraud in the past decades”, leading to its stock price plummeting, Adani was among the world’s richest people. Ranked No. 3 on the list.
Responsible editor: Yu Weining
