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Dajoey120 OP t1_j6mz7z0 wrote

Why would people subscribe even below the actual rate for the share sale?

“Support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees.”

Crazy land

10

yogeshkumar4 t1_j6nv5gc wrote

Because FPO is offering 4.5mil shares. If you try to buy these many shares off the market, you will never get the liquidity. The retail portion was only subscribed 12%, which makes sense

Adani group has insanely good assets (India's highest capacity port, Australian mines, port terminals in Israel, Australia, among shit load of other things), above all, he has contacts and insane amount of money

Also, the Hindenberg report points out crony capitalism on large scale, don't sprinkles of corporate governance fraud, but nothing to send anything collapsing

If you think having 2sq ft corporate offices in tax havens is fraud, then understand this, those 2sq ft are enough for your wife's boyfriend to fuck both your wife and mom at the same time

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wefarrell t1_j6ol2h8 wrote

They were accused of stock manipulation so maybe it's more stock manipulation?

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parasbyn t1_j6omf01 wrote

Liquidity/disclosures are required for QIB, HNI and big players

Retail won't buy

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