Adani's losses surge past $100 bn, as FPO fails to impress common investors
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Although Gautam Adani pulled back his firm's Rs 20,000 crore FPO which was fully subscribed, reports suggested that two of India's wealthiest families bid for its shares. But that didn't save the offer from getting shelved and it spooked investors even more, with Adani's losses surpassing $100 billion, which is 43 per cent of its market value.