Relentless selling triggers questions about how Indian conglomerate – which denies allegations – will meet its loan obligations
- Why has the Adani Group shed US$90bn in value and what do short sellers have to gain?
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Beleaguered Indian conglomerate Adani Group has abandoned a much-vaunted share offer in an escalating crisis triggered by fraud claims that has cut more than US$90bn in value from the power-to-ports empire and raised the prospect of forced asset sales.
The relentless selling has also triggered questions about how Adani, which runs Australia’s contentious Carmichael coalmine and rail project in Queensland, will meet its loan obligations as banks weigh up their exposure.Continue reading...