00:00So, what came after the scandalous Hindenburg report for Adani Enterprises?
00:04The company first took steps to secure $2.5 billion through share sales.
00:09However, amidst outrage and scrutiny, the deal was abruptly called off.
00:13Credit Suisse has refused to provide security for Adani bonds and the S&P has downgraded
00:17the credit outlook on two of their firms.
00:19This is more evidence that both faith and reputation for Adani are withering away quickly.
00:24To restore confidence in his companies and their shares, Adani has taken it upon himself
00:28to prepay a $1.1 billion loan backed with said stocks.
00:33But despite the show of strength, or perhaps good faith, Adani's net worth is nonetheless
00:37in freefall.
00:38Bloomberg reports that he's lost over half his net worth since January 24th, but the
00:42repercussions of this are larger than just Adani, who as the poster child for India's
00:46economic growth over the last decade, has brought concern to light to the newly fifth-largest
00:51economy in the world.
00:52If the Adani group can lose $100 billion in market value in a week, what ramifications
00:56can we expect regarding India's economy?
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