Adani’s flagship firm pulls share sale amid sell-off

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Adani’s flagship firm pulls share sale amid sell-off
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The decision came a day after Adani Enterprises Ltd had secured full subscription for India’s largest follow-on share sale.

The flagship company of beleaguered Indian tycoon Gautam Adani pulled a record 200 billion-rupee share sale after a sell-off engulfed shares of his group in turmoil triggered by a US short seller report.

Adani Enterprises said in the statement it’s pulling the deal to insulate investors in the offering from potential losses.

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