Adani Stock Wipeout Deepens to $104 Billion After Flagship Firm Pulls Share Sale

[doorstar]

how so ?

same question as mine: he came he read and went away
I am gonna search google to see what comes up.

that remidns me of 2 more oddities Indians and Pakistanis share
meludd= my lord << addressing a judge and instead of making a plea they make a prayer
prayer = plea

how so ?

found it, it means reply
https://aspiresquare.com/indianism-get-rid-of-speaking-conventional-indian-english-words-pronounces/

no need to revert means no need to reply

 

[StraightEdge]

same question as mine: he came he read and went away
I am gonna search google to see what comes up.

that remidns me of 2 more oddities Indians and Pakistanis share
meludd= my lord << addressing a judge and instead of making a plea they make a prayer
prayer = plea


found it, it means reply
https://aspiresquare.com/indianism-get-rid-of-speaking-conventional-indian-english-words-pronounces/

no need to revert means no need to reply

I think I already mentioned it in my post.

"Revert" doesn't mean to reply.

 

[doorstar]

I think I already mentioned it in my post.

you said it doesn't mean reply, but it does as I later discovered

you see?

 

[nahtanbob]

It was Indian support that made Modi go from "visa ban" to "Global statesman".

So stupid or not, Modi is our Man and the Man anyone will have to meet and greet if they want to do business with us.

No disagreement here. If you want to do business with India Modi is the man

 

[doorstar]

No disagreement here. If you want to do business with India Modi is the man

his learned eminence is on vacation for the next 30 days

Modi is the man

Pompeo says that Doval is the man, Sri Modi-ji is a front-man

meaning:
contact Doval to get something done
contact Sri Modi-ji for jumla-baazi and photo-ops

 

[StraightEdge]

you said it doesn't mean reply, but it does as I later discovered

you see?

In India we use revert as reply, which is not correct.

Here, you find meaning of revert:
Revert Definition & Meaning - Merriam-Webster

But somehow in India, we changed revert to reply, like this one (clearly indicates it's Indian usage)
REVERT | English meaning - Cambridge Dictionary

 

[Bilal9]

Chairman Gautam Adani's address to investors after withdrawal of the fully subscribed AEL FPO​

Time to whip out the Swadeshi garb to whip up nationalistic fervor....

"Son of the soil" etc. etc.

Meanwhile in all of Adanis overseas holdings - "praa-tesht" have broken out.

Indian and Bangladeshi NGOs are rallying together to oppose Adani's businesses that exploit indigenous people in both Australia and Jharkhand.

They all say one thing, say "no" to Adani.

 

[Skimming]

Indian and Bangladeshi NGOs are rallying together to oppose Adani's businesses that exploit indigenous people in both Australia and Jharkhand.

@jamahir khush hua!! Aur @Drizzt bhi. Aur @xeuss bhi. Aur @Zornix bhi.

 

[Bilal9]

If they hate Pakistan so much why do they make so many fake ids?

Great point brother @siegecrossbow . Ha ha ha

 

[khansaheeb]

Adani Stock Wipeout Deepens to $104 Billion After Flagship Firm Pulls Share Sale​

• Dollar bonds plunged to distressed levels as debt risk grows
• Group’s stock wipeout has reached $104 billion so far

Adani Group has $34.7 million of coupon payments due this week on its dollar bonds, most of which are already at distressed levels.
Photographer: Dhiraj Singh/Bloomberg

By
Ishika Mookerjee and
Divya Balji
February 2, 2023 at 10:53 GMT+7

The stock rout in Gautam Adani’s group of companies intensified Thursday after a sharp selloff forced the Indian conglomerate’s flagship firm to pull a record domestic equity offering.

Adani Enterprises Ltd. tanked as much as 10% in early Mumbai trading, after the company said it abandoned a $2.4 billion follow-on share sale to insulate investors in the offering from potential losses. The other nine stocks in the group also fell.


Read more: Adani Abruptly Abandons $2.4 Billion Stock Sale as Crisis Mounts

The decision to pull the share offering marks a major setback for Adani, pushing the group’s dollar bonds to distressed levels as concerns intensify about its debt risk. The weeklong meltdown has wiped out $104 billion in market value for the group’s stocks, as the fallout from US short seller Hindenburg Research’s fraud allegations against the conglomerate widens.


Looking at valuations, “there could be more downside to the Adani group shares,” said Nitin Chanduka, an analyst at Bloomberg Intelligence. “Banks could take a knock in case foreign outflows intensify and there is a default on bonds but so far they haven’t missed interest payments.”

Adani Group has $34.7 million of coupon payments due this week on its dollar bonds, most of which are already at distressed levels.

Citigroup Inc.’s wealth arm has also joined Credit Suisse Group AG in stopping the acceptance of securities of Adani’s group of firms as collateral for margin loans as banks ramp up scrutiny of the Indian tycoon’s finances.

— With assistance by Abhishek Vishnoi, Matt Turner and Josyana Joshua

Adani Crisis Deepens as Stock Rout Hits $100 Billion, Bonds Sink

Gautam Adani’s businesses have lost $108 billion in a week, one of the biggest wipeouts in India’s history, after an explosive report by short-seller Hindenburg Research forced him to pull a stock sale at the 11th hour and led some lenders to reject his securities as collateral for client trades.

www.bloomberg.com

Seems like the Indian bubble has burst, allegations of fraud are ripe and the domino effect will cause a massive collapse of the Indian stock market and major players could go bust.

 

[nahtanbob]

Seems like the Indian bubble has burst, allegations of fraud are ripe and the domino effect will cause a massive collapse of the Indian stock market and major players could go bust.

says who ?? The overall Indian economy and Indian companies are doing fine. No one is doing these hanky panky stuff on this scale

 

[Indos]

Seems like the Indian bubble has burst, allegations of fraud are ripe and the domino effect will cause a massive collapse of the Indian stock market and major players could go bust.

We should wait India release their GDP growth in Q4 2022 to see whether that will be the case, if the number is merely around 4 % so it will give more pressure to Indian Stock Market appeal among Global investors.

Just wait until the end of February to see it, if the number is between 5-6 % then the level of confident on Indian economy will be pretty maintained. Their economy that is actually becoming the base of Global investor to invest in India stock market or FDI as fundamentally speaking base on individual stock, India stock market is already quite expensive if the comparison is with other Emerging economy market like Indonesia.

By the way, this Adani case comes in the time where one of our company wants to get IPO (Initial Public Offering), dont know how but I think God helps one of Pertamina subsidiary companies as their IPO is 2 weeks from now.

-------------------------

Indonesia's Pertamina Geothermal tightens price in IPO worth up to $611 mln​

Credit: REUTERS/Darren Whiteside
By Scott Murdoch and Yantoultra Ngui

SYDNEY/SINGAPORE, Feb 3 (Reuters) - Indonesia's Pertamina Geothermal Energy, a unit of state energy company Pertamina PERTM.UL, has narrowed the price range for its initial public offering, according to a term sheet seen by Reuters on Friday.

The top end of the range of between 875 rupiah and 880 rupiah a piece values the IPO at up to 9.11 trillion rupiah ($611 million), the largest in Indonesia in almost a year after the $1.1 billion listing of tech firm GoTo GOTO.JK in April.

The range is tighter than the 820 rupiah to 945 rupiah range set out in a prospectus on Wednesday.

The IPO comes as Pertamina aims to double its geothermal capacity by 2027-2028, which may cost an estimated $4 billion. Indonesia, Southeast Asia's largest economy, is keen to tap into its geothermal resources to cut energy imports and reduce carbon emissions.

Pertamina Geothermal is selling 10.35 billion shares, or 25% of the enlarged share capital. Most of the IPO proceeds will be invested into expanding capacity of its working geothermal areas, its prospectus said.

Books will be closed on Feb. 10. The public offering is scheduled for Feb. 20–22 and the shares will debut on the Jakarta stock exchange on Feb. 24.

Credit Suisse is the sole global coordinator, according to the term sheet. It is also an underwriter, along with CSLA Sekuritas Indonesia and Mandiri Sekuritas.
(Reporting by Scott Murdoch in Sydney and Yantoultra Ngui in Singapore, Editing by Louise Heavens)
((Yantoultra.Ngui@thomsonreuters.com)

https://www.nasdaq.com/articles/indonesias-pertamina-geothermal-tightens-price-in-ipo-worth-up-to-$611-mln

 

[khansaheeb]

We should wait India release their GDP growth in Q4 2022 to see whether that will be the case, if the number is merely around 4 % so it will give more pressure to Indian Stock Market appeal among Global investors.

Just wait until the end of February to see it, if the number is between 5-6 % then the level of confident on Indian economy will be pretty maintained. Their economy that is actually becoming the base of Global investor to invest in India stock market or FDI as fundamentally speaking base on individual stock, India stock market is already quite expensive if the comparison is with other Emerging economy market like Indonesia.

By the way, this Adani case comes in the time where one of our company wants to get IPO (Initial Public Offering), dont know how but I think God helps one of Pertamina subsidiary companies as their IPO is 2 weeks from now.

-------------------------

Indonesia's Pertamina Geothermal tightens price in IPO worth up to $611 mln​

Credit: REUTERS/Darren Whiteside
By Scott Murdoch and Yantoultra Ngui

SYDNEY/SINGAPORE, Feb 3 (Reuters) - Indonesia's Pertamina Geothermal Energy, a unit of state energy company Pertamina PERTM.UL, has narrowed the price range for its initial public offering, according to a term sheet seen by Reuters on Friday.

The top end of the range of between 875 rupiah and 880 rupiah a piece values the IPO at up to 9.11 trillion rupiah ($611 million), the largest in Indonesia in almost a year after the $1.1 billion listing of tech firm GoTo GOTO.JK in April.

The range is tighter than the 820 rupiah to 945 rupiah range set out in a prospectus on Wednesday.

The IPO comes as Pertamina aims to double its geothermal capacity by 2027-2028, which may cost an estimated $4 billion. Indonesia, Southeast Asia's largest economy, is keen to tap into its geothermal resources to cut energy imports and reduce carbon emissions.

Pertamina Geothermal is selling 10.35 billion shares, or 25% of the enlarged share capital. Most of the IPO proceeds will be invested into expanding capacity of its working geothermal areas, its prospectus said.

Books will be closed on Feb. 10. The public offering is scheduled for Feb. 20–22 and the shares will debut on the Jakarta stock exchange on Feb. 24.

Credit Suisse is the sole global coordinator, according to the term sheet. It is also an underwriter, along with CSLA Sekuritas Indonesia and Mandiri Sekuritas.
(Reporting by Scott Murdoch in Sydney and Yantoultra Ngui in Singapore, Editing by Louise Heavens)
((Yantoultra.Ngui@thomsonreuters.com)

https://www.nasdaq.com/articles/indonesias-pertamina-geothermal-tightens-price-in-ipo-worth-up-to-$611-mln

India has become a Ponzi scheme of the Zions, sooner or later the bubble is going burst as more cooked books are revealed fake dishonest accounting exposed.

 

[Indos]

India has become a Ponzi scheme of the Zions, sooner or later the bubble is going burst as more cooked books are revealed fake dishonest accounting exposed.

India economy is still quite strong fundamentally, I just think this event will make many investors dont eat Indian economy projection so easily anymore by Indian economist or foreign institution where Indian economist who made the projection. The global appetite on Indian stock and bond market will likely decrease as well and the Rupee will have more long term pressure due to the combination of those things I mentioned above.

By the way, Adani stock keeps loosing its value as we are speaking

 

[casual]

India economy is still quite strong fundamentally, I just think this event will make many investors dont eat Indian economy projection so easily anymore by Indian economist or foreign institution where Indian economist who made the projection. The global appetite on Indian stock and bond market will likely decrease as well and the Rupee will have more long term pressure due to the combination of those things I mentioned above.

By the way, Adani stock keeps loosing its value as we are speaking

View attachment 915219

the risk lies in how much exposure the indian banks has to Adani bonds. Those bonds have now lost over %50 value. Currently Indian banks are saying their exposure is limited but $100 billion is a massive amount and someone has to cover it.