Adani scraps $2.5B share sale after fraud claims hit stock

FILE - Adani Group Chairman Gautam Adani attends the "Invest Karnataka 2016 - Global Investors Meet" in Bangalore, India, Feb. 3, 2016. The embattled Indian billionaire called off his flagship company's $2.5 billion share share late Wednesday, Feb. 1, 2023, after a tumultuous week saw his conglomerate shed tens of billions of dollars in market value after claims of fraud from a U.S.-based short-selling firm. (AP Photo/Aijaz Rahi, File) NEW DELHI (AP) ” Embattled Indian billionaire Gautam Adani called off his flagship company's $2.5 billion share share late Wednesday after a tumultuous week saw his conglomerate shed tens of billions of dollars in market value after claims of fraud from a U.S.-based short-selling firm. [ABSTRACT FROM PUBLISHER]