Adani Group Disclosure: Adani Group Chairman Gautam Adani said that Hindenburg Research had deliberately released a damaging report on the Adani Group. This was clearly aimed at damaging the reputation of the group and making profits through a fall in Adani’s shares. In the annual report of Adani Enterprises, Gautam Adani also said that the group is fully confident about its governance and disclosure standards. At the same time, a disclosure has been issued by the Adani Group, under which an attempt has been made to fully expose the wrong purpose of Hindenburg Research.
Gautam Adani assured his shareholders
In addition to the information given in the disclosure, Gautam Adani, in his message to its shareholders, said that “on the eve of our Republic Day, a US-based short seller published a report after we launched the largest follow-on public offering in India’s history.” (FPOs) we were planning to launch. This report was a combination of targeted misinformation and out-of-date, discredited allegations aimed at damaging our reputation and making profits through the deliberate driving down of our stock prices.”
Gautam Adani also said that he has decided to bring back the FPO and has decided to return the investors’ capital so that their interests can be protected. Along with this, it has been clarified in the disclosure that Adani portfolio companies and all its businesses have acted according to the rules and have followed the rules by staying in all the legal circles under which we come.
Adani group also issued disclosure
It has also been said in the disclosure that the Supreme Court of India has already seen the reports given by the Adani Group and has accepted that the Adani Group has taken several steps like reducing its debt, increasing investment, which are in the interest of investors. Are. This has also increased the number of investors. As far as SEBI’s investigation is concerned – Court has given time to SEBI and we are sure that it will be done in a fair manner as Adani group is cooperating in all respects for this. We want to see that the investigation is completed in time and the best result comes out in the interest of the investors.
The short-selling incident led to several adverse consequences that we faced, even though we immediately issued a comprehensive rebuttal. Various vested interests tried to opportunistically exploit the claims made by the short seller Hindenburg. These entities have included and encouraged false stories on many news and social media platforms.
What is the story of the Hindenburg Group
January 24, 2023 was one of the worst days of the year for the Adani group when American short seller Hindenburg Research published a report on the group just before the FPO of the Adani group. From the very next day onwards, the sharp fall in the shares of Adani Group came to an end after a long time. Due to this report, the net worth of Adani group declined by lakhs of crores and where Gautam Adani lost the title of the world’s second richest person, the returns of Indian retail investors went negative.
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