Adani’s Discount Share Sale Tries to Woo Public, Silence Critics

Indian tycoon Gautam Adani, who added $40 billion to his wealth last year after a blistering stock rally, wants validation from the investing public and critics who question the forces pushing up his companies’ share prices.

To woo mom-and-pop investors to buy into his ports-to-power empire’s flagship, Adani Enterprises Ltd. 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 month — an unprecedented move for one of the country’s hottest stocks. For a stock that has rallied over 1,400% since early 2020, sweeteners are crucial to woo retail investors.