Gautam Adani’s $2.4bn share sale enters final hours

Gautam Adani’s $2.4bn equity sale has received bids for just over 60 per cent of shares on offer as it enters its final hours, with the Indian billionaire working to shore up support in response to a short seller report targeting his industrial empire.

The equity sale was initially intended to widen the shareholder base of Adani Enterprises, of which Adani owns a roughly three-quarters stake. The stock has come under criticism for its low trading liquidity.