Adani Hindenburg Row: Conglomerate on its knees, suffers $ 118 billion loss in 10 days as a result of shocking report

February 4, 2023

The US-based short-seller company Hindenburg Research is in the news after its research on billionaire Gautam Adani’s conglomerate sent shares of the Adani Group plunging. According to business website Fortune, the market value of the Adani Group companies is currently $99 billion, down from $217 billion before to the publication of the Hindenburg Research .

Adani Group loses $118 billion in 10 days

Since Hindenburg accused the Adani Group of stock manipulation, inappropriate use of tax havens, money laundering, and growing indebtedness, the group has lost $118 billion in 10 days, a 50% loss.

This week, Gautam Adani, who was dethroned from his title as Asia’s richest man, cancelled a Rs 20,000 crore share sale in his flagship company, Adani Enterprises, citing the importance of investors’ interests.

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About Hindenburg Research

Nathan Anderson started Hindenburg Research LLC, a New York City-based investment research company with a concentration on activist short-selling, in 2017. The company, which bears the name Hindenburg after the 1937 tragedy, which they describe as a man-made avoidable calamity, publishes reports on its website that accuse corporations of mismanagement and fraud. Among the businesses that have been the focus of their reports are Lordstown Motors, Nikola, Adani Group, Clover Health, and Kandi. Additionally, although holding short positions in the company prior to publishing reports, these papers defend the process of short selling and how it “plays a key role in uncovering fraud and protecting investors.”

Headline grabbing research by Hindenburg