India’s Adani: Anatomy of a crisis

Congress protest against investments in Adani Group in New Delhi

A day-by-day account of Adani’s stunning collapse in value.

February 22, 2023

Early January 2023

Adani Enterprises is one of several listed companies within the broader Adani Group, and it is the embodiment of a Modi-era Indian corporate success story. While the group businesses are essential to Indian life – power, ports, mining, airports, food processing – their share prices have behaved in a manner that would look extravagant for a tech stock.

related reading

CAPITAL MARKETS

Where does the fallout from the Adani crisis take India now?

A two-week period saw Adani Group attacked by a short seller, abandon a $2.5 billion share offer and lose $100 billion in market value. What next? And what does it mean for Modi’s India?

Chris Wright, February 20, 2023
Opinion

India: Adani row strikes at the heart of a tangled political story

A report by a US short-seller hammered the stock of India’s Adani Group companies just as one of them tried to raise $2.5

To unlock this article

Register for a free trial Already registered? Login now

Topics

Features Capital Markets Asia Pacific India

Chris Wright

Asia correspondent Euromoney

Chris Wright is Euromoney’s Asia correspondent. He covers the Asia Pacific region and is based in Singapore. He has previously been Middle East editor of Euromoney, editor of Asiamoney, investment editor of the Australian Financial Review and a correspondent on emerging markets and sovereign wealth for numerous publications worldwide. He has also written three books.