Gautam Adani’s $2.5 billion share sale was fully subscribed on Tuesday as investors pumped funds into his flagship Adani Enterprises despite a scathing short-seller’s report which pummelled stocks in the Indian billionaire’s group. The share sale is critical for Adani, not just because it will help cut debt, but because its success will be seen as a mark of investor confidence as he faces one of his biggest business and reputational challenges of recent times.
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