Tag: Gautam Adani

Adani Shares Plummet After Gautam Adani Faces US Indictment on Bribery Charges

Gautam Adani and top executives face US charges for a bribery scheme involving $265 million to secure profitable contracts. Despite Adani Group's denial of allegations, the news caused a sharp dip in their stock prices. The case sheds light on the complexity of the alleged scheme and its repercussions on global markets.

Adani Wilmar Shares Plunge 10% Amid Stake Sale and Legal Controversies

Adani Wilmar shares experienced a dramatic 10% decline, hitting record lows due to a 20% stake sale via an Offer for Sale (OFS) and legal challenges against Gautam Adani in the United States. The OFS, involving 17.54 crore shares offered at a discounted floor price, heightened negative sentiment. Meanwhile, the Adani Group witnessed substantial financial losses, with Wilmar International set to acquire remaining shares post-OFS.

Gautam Adani Faces Serious Legal Challenges: U.S. Indictment and Bribery Allegations

Gautam Adani, an influential Indian billionaire and chairman of the Adani Group, has been implicated in a serious U.S. indictment alleging bribery and fraud. The charges claim Adani and other executives conspired to pay substantial bribes to secure key contracts for Adani Green Energy. The indictment is accompanied by SEC civil actions, underscoring global efforts to tackle corruption affecting U.S. markets.