India's Adani group shares sank after market turmoil forced the conglomerate to axe a crucial $2.5 billion stock offer, deepening its market losses to more than $100 billion and sparking worries about the potential systemic impact
extending margin loans to its clients against securities of Adani group and decided to cut the loan-to-value ratio for credit against Adani securities to zero on Thursday, said a source.
The Adani group has denied the accusations, saying the short-seller's allegation of stock manipulation has "no basis" and stems from an ignorance of Indian law. The group has always made the necessary regulatory disclosures, it added. As shares plunged after the Hindenburg report, Adani managed to secure the share sale subscriptions on Tuesday even though the stock's market price was below the issue's offer price. But on Wednesday, stocks plunged again.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
India's Adani ditches $2.5 billion share sale after $86 billion routIndia's Adani Enterprises Ltd on Wednesday withdrew its $2.5 billion secondary share sale after Adani Group shares plummeted on concerns raised by a U.S. short-seller.
Baca lebih lajut »
India ETF dives toward 6 1/2-month low as Adani stocks extend plungeThe iShares MSCI India exchange-traded fund sank 2.2% in afternoon trading Wednesday, putting it on track for the lowest close since July 18, 2022, amid...
Baca lebih lajut »
Gautam Adani, one of India's most powerful men, suffers a rare defeatIndia's Gautam Adani, the school dropout who rose to become one of the world's richest men, suffered a stunning defeat on Wednesday when his flagship firm withdrew a blockbuster share sale after an attack by a small U.S. investment firm over his business practices.
Baca lebih lajut »
Hindenburg bet against India's Adani puzzles rival U.S. short sellersWhen Hindenburg Research revealed a short position in Adani Group last week, some U.S. investors said they were intrigued about the actual mechanics of its trade, because Indian securities rules make it hard for foreigners bet against companies there.
Baca lebih lajut »
India's Adani speaks about turmoil as Citigroup stops margin loansGautam Adani, who saw $100 billion rout in shares of his listed firms, says his conglomerate has 'impeccable track record' of fulfilling debt obligations. Meanwhile, Citigroup stops accepting securities of his firms as collateral for margin loans.
Baca lebih lajut »
Citigroup stops margin loans against India Adani's securities - sourceCitigroup's wealth unit has stopped extending margin loans to its clients against securities of India's embattled Adani group, a source with direct knowledge of the matter said, as the conglomerate reels from a short-seller attack.
Baca lebih lajut »