INSUBCONTINENT EXCLUSIVE:
Indian tycoon Gautam Adani, who added $40 billion to his wealth last year after a blistering stock rally, wants validation from the
will sell new shares at a discount and allow payments in three installments when it rolls out its $2.5 billion follow-on offer later this
share sale serves many ends
investors, not just himself
Non-founders owned 49.43% in Reliance in end-September.Diamond TraderAdani, who started as a diamond trader in Mumbai in the 1980s, now
helms a conglomerate spanning ports, airports, coals mines, power plants
initiatives of the Indian government, led by Prime Minister Narendra Modi.The billionaire is now seeking to buttress his corporate image as
address the concerns of the limited free float and dominance of a few foreign portfolio investors, according to Kranthi Bathini, chief
at a valuation of over 141 times its one-year forward earnings while Reliance was at about 20 times as of last week, according to data
