With the stock sale after the Hindenburg claim, Adani is no longer a $100 billion group.

The market capitalization (mcap) of the Adani Group, led by billionaire Gautam Adani, fell below the $100 billion mark on Monday, having fallen since an explosive report by Hindenburg Research in late January to more than $135 billion.

The group’s overall mcap is down about $200 billion from its peak of $290 billion in September last year.

Most of the group’s shares continued to sell off today, with the group’s flagship Adani Enterprises posting the worst performance, down 9.4%.