Just a day after closing a $2.5 billion share offering, Gautam Adani, has withdrawn in ൩ဣthe face of blowback from a U.S. short-seller's report.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 felt that g🎶oing ahead 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开奖号码历史查询:fraud and stock price manipulation. However, Adani's lengthy rebuttal wasn't able to stave off a decline in stock prices in 🅷the 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开奖号码历史查询:resounding success, it still managed to shore up interest from foreign institutional investors, such as the A🌃bu Dhabi royal fa🌳mily 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.