Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller’s accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week — one of the biggest wipeouts in India’s history. “After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday’s decision of its withdrawal would have surprised many.
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