India’s Adani Enterprises has canceled its planned $2.4B share sale after the firm’s listed companies lost more than $90B in market value since last week.  Short seller Hindenburg Research published a 106-page report on Jan. 24, accusing Adani Group of widespread fraud and stock manipulation. Adani called Hindenburg Research’s accusations unresearched and maliciously mischievous. Adani also released a 413-page response, which doesn’t appear to have calmed market concerns. Adani Enterprises’ shares fell more than 25% on Wednesday, bringing them well below the deal price range. In a recent filing, Adani said due to the unprecedented situation and current market volatility, it was returning the proceeds from the sale and withdrawing completed transactions. According to sources, Adani’s planned equity fundraising was backed by several investors, including Abu Dhabi’s International Holding Company (IHC) and London-listed Jupiter Asset Management. Adani had secured bids for more than 92% of the shares.