Financial Distress for Adani: Bonds Sink and FPO Pulled Amid Controversy

Adani Enterprises Ltd’s board decided to scrap its ₹20,000 crore follow-on public offering (FPO), due to investor protection concerns, as the sell-off in Adani shares continued for a fifth day after the Hindenburg report was released alleging Adani enterprises of accounting fraud and stock manipulation.

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