Adani Enterprises Ltd (ADEL.NS), opens new tab is likely to launch a $1 billion share sale by mid-September, three sources with direct knowledge of the matter told Reuters, in the latest attempt by Indian billionaire Gautam Adani to restore his empire’s fortunes.
The share sale will be the second by an Adani group company this year after one from its power transmission unit last week.
The offering of existing shares will mark Adani Enterprises’ return to equity markets after the flagship company scrapped a $2.5 billion share sale in February last year, after U.S.-based short-seller Hindenburg Research accused the Adani group of improper use of offshore tax havens and stock manipulation.
Source: REUTER
