India's Adani abandons $2.5b secondary share sale amid stock rout

India's Adani abandons $2.5b secondary share sale amid stock rout

Adani group chairman Gautam S. Adani. Photographer: Tomohiro Ohsumi/Bloomberg

Gautam Adani‘s flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller’s criticisms wiped billions more off the value of the Indian tycoon’s stocks.