Bankers are considering extending the closing date or cutting the issue price for the $2.5 billion share sale of India's Adani Enterprises due to a U.S. short seller's report.

The options being considered include extending the Tuesday closing date for the subscription of the issue by four days.

Seven listed companies of the conglomerate controlled by Gautam Adani have lost a combined $48 billion in market value since Hindenburg Research flagged concerns about debt levels and the use of tax havens.

The Adani Group has called the report baseless and is considering taking action against Hindenburg.

On the first day of retail bidding, the issue was subscribed around 1%, raising concerns over whether it would be able to proceed.

The other option being considered is lowering the price, with one source saying it could be cut by as much as 10%.

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A decision on the next steps is expected on Monday.  The share sale is being managed by Jefferies, India's SBI Capital Markets, and ICICI Securities among others.

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