Published on 30 Jan 2023 on Reuters via Yahoo Finance
India's Adani secures $2.5 billion share sale amid short-seller storm
By Chris Thomas, Aditya Kalra and Sriram M
MUMBAI (Reuters) - Gautam Adani's crucial $2.5 billion share sale was fully subscribed on Tuesday as investors pumped funds into his flagship firm, despite a $65 billion rout in the Indian billionaire's stocks sparked by a short-seller's report.
The fundraising is critical for Adani, not just because it will help cut his group's debt, but also because it is being seen by some as a gauge of confidence at a time when the tycoon faces one of his biggest business and reputational challenges.