From Breakingviews - Adani’s buy now, pay later fundraise could sting
Follow @ugalani on TwitterAdani Enterprises said on Jan. 25 that it sold shares worth 60 billion rupees to anchor investors as part of a wider follow-on equity issue by the Indian company. Bidders included the Abu Dhabi Investment Authority .
The company on Jan. 18 said it would raise 200 billion rupees through a public offer of new shares priced between 3,112 rupees and 3,276 rupees each, with a discount of 64 rupees per share given to individual retail investors. The company’s shares closed unchanged at 3,442 rupees on Jan. 25 after U.S.
Adani group said in a statement it was shocked that Hindenburg had published a report without making any attempt to contact them and dismissed the report as a “malicious combination of selective misinformation and stale, baseless and discredited allegations that have been tested and rejected by India’s highest courts”.Opinions expressed are those of the author.
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