Gautam Adani-led Adani Group has been looking to ease concerns about its credit profile after a US-based short seller noted high debt and alleged improper use of offshore tax havens and stock manipulation.

Although Adani has said it always complied with all disclosures, the repercussions have knocked US$100 billion off the market capitalisation of the group's seven Indian-listed stocks.

The withdrawal of the Adani Enterprises share offering marks a stunning setback for Adani, whose fortunes rose rapidly in recent years in line with the stock values of his businesses.

A report alleged improper use of offshore tax havens while flagging concerns about high debt and the valuations of seven listed Adani companies.