Major investment in Adani Group fails to stop US$70bn slide in value following fraud allegations

Abu Dhabi’s International Holding Company to invest US$400m in Indian conglomerate as it tries to complete share sale

A major investment from an Abu Dhabi company has failed to arrest a huge slide in the value of Adani Group, which has now recorded losses of more than US$70bn (£57bn) in just four trading days since allegations of fraud were published.

Abu Dhabi’s International Holding Company (IHC), a large company with ties to the royal family, will invest US$400m (£325m) in Adani Group, representing its second major investment in the group.