Just a day after closing a $2.5 billion share offering, Gautam Adani, has withdrawn in the ꦇface of blowback from a U.S. sho🐎rt-seller's report.

Shares of Adani’s flagship company, Adani Enterprises (), couldn’t sustain a modest reprieve after the offering closed, plunging almost 27% in trade today. Adani cited market volatility as the reason.

“[T]oday the market has been unprecedented, and our stock price has fluctuated over the course of the day. Given these extraordinary circumstances, the Company’s board 𒁏felt that going ahea꧃d with the issue will not be morally correct,” Adani said in a statement.

The company said it will issue refunds to investors.

Adani Enterprises has been the subject of a report by U.S.-based Hindenburg Research alleging accounting 澳洲幸运5官方开奖结果体彩网:fraud and stock price manipulation. However, Adani's lengthy rebuttal wasn't able to stave off a decline in stock prices in t𒁏𓆏he aftermath of the report, eroding some of Adani’s fortune.

While the share sale for Adani Enterprises wasn’t a 澳洲幸运5官方开奖结果体彩网:resounding success, it still managed to shore up interest from foreign institution൲al investors, such as the Abu Dhabi royal f🐈amily and high-net-worth Indian investors.

But Adani stock's woes may be far from over. India’s stock market regulator may be looking into irregularities during the share offering, Reuters reported citing sources.