Bankers on the $2.5 billion share sale of India's Adani Enterprises are considering extending the sale or cutting the issue price after shares plunged on a U.S. short seller's report, said three people familiar with the deal.
The Adani Group has called the report baseless and said it was considering taking action against Hindenburg.
Adani had set a floor price of 3,112 rupees a share and a cap of 3,276 rupees, but Adani Enterprises closed on Friday 2,761.45 rupees. At the end of the first day of the share sale, investors, mostly retail, had bid for around 470,160 of the 45.5 million shares on offer, according to Indian stock exchange data.
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