Adani Share Price Collapse Following US Allegations

The Adani Group faced a severe market backlash following allegations of bribery and fraud against its founder, Gautam Adani, and senior executives. The U.S. Department of Justice accused the group of engaging in bribery to secure contracts in India’s renewable energy sector. This development caused a significant selloff across the conglomerate’s listed companies.


Key impacts included:

- **Adani Energy Solutions**: Share prices plunged by 20%.

- **Adani Green Energy**: Fell 18%, with a parallel drop in its bonds by 15 cents.

- **Adani Total Gas**: Experienced a steep decline.

- Other subsidiaries, including Adani Enterprises, saw losses ranging from 5% to 8% in early trading sessions【6】【7】.


Additionally, the group canceled a $600 million bond offering due to the controversy. The allegations, coupled with prior scrutiny from the Hindenburg Research report in 2023, have reignited concerns about governance and transparency at Adani. This may deter foreign investors and affect the group's global operations【6】【7】.


Adani has denied the charges, stating it was unaware of any ongoing investigations, but the financial markets continue to react sharply to these developments.

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