Adani’s $2.5 billion offer rides out share storm with investor backing

The record $2.5 billion share sale by Gautam Adani’s flagship company was fully subscribed on the final day, offering Asia’s richest man a reprieve after his empire was rocked by allegations of fraud by Hindenburg Research. Investors had placed orders for about 100% of the total shares on sale in the follow-on offering by Adani Enterprises Ltd. shortly before the close of the equity market on Tuesday.
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