Hindenburg Research Adani Report PDF Summary
Dear readers, today we are going to share the Hindenburg Research Adani Report PDF Download free for all of you. Adani is one of the most popular Indian billionaire industrialists. The complete name of Adani is Gautam Shantilal Adani. He was born on 24 June 1962 in a Jain family in Ahmedabad, Gujarat and is the chairman and founder of Adani Group.
Adani is also known as the president of the Adani Foundation. In India, Adani Group is a multinational conglomerate involved in port development and operations. As of January 2023, he is the fourth richest person in the world. The father’s name Gautam Adani is Shantilal Adani and his mother’s name is Shantaben Adani.
According to a Forbes report of 2023, the net worth of Gautam Adani is 12,730 crores USD. So guys if you are also known detailed information about this topic then through the given Hindenburg Research Adani Report pdf you can easily know more important details which will be very fruitful for you.
Hindenburg Research Adani Report PDF – Detailed Information
- Millionaire Gautam Adani has slipped from being the world’s third richest man to the fourth after an activist investment firm released a report Tuesday accusing his company, Adani Group, of “brazen” stock manipulation and accounting fraud worth $218 billion, wiping $5.51 billion from his personal net worth by Thursday.
- Hindenburg Research, which in the past has shorted—or bet against—companies like electric truck maker Nikola Corp and Twitter, said it holds short positions in Adani companies through U.S.-traded bonds and non-Indian-traded derivative instruments.
- Tuesday’s report sent shares tied to seven of the Adani Group’s listed companies falling by more than 5% on Wednesday, taking a $10.8 billion hit, and forcing the company to issue a strong denial of its contents. Below, is what to know about Adani and the corporate corruption allegations.
What do Hindenburg’s findings reveal?
- Among other allegations, the report says that Adani Group engaged in stock price manipulation and accounting fraud over decades, and found evidence that the group’s key listed companies fell in value by 85% despite “sky-high valuations.”
- It also said that substantial debt puts the group on “precarious financial footing.” The report names several family members—like Gautam Adani’s brothers, Rajesh and Vinod Adani, as well as associates of the Adani Group—for their involvement in major bribery and tax evasion cases.
- Members of the Adani family have been the subjects of past corruption investigations carried out by the Securities and Exchange Board of India (SEBI) and the Directorate of Review Intelligence. The Hindenburg report also claims that Adani family members allegedly cooperated in the creation of offshore shell entities worth $4.5 billion through forged documents, primarily in tax-haven jurisdictions like Mauritius, the UAE, and the Caribbean islands.
- Hindenburg said that SEBI was still investigating a case in Mauritius in September 2022, but that no action has been taken against the group so far. Hindenburg said the report’s findings were based on interviews with dozens of individuals, including former senior executives at Adani Group, thousands of documents, and due diligence site visits in almost half a dozen countries.
How has the Adani Group responded to the allegations?
- Adani Group’s chief financial officer Jugeshinder Singh said in an official statement Wednesday that the company was shocked by the report, calling it a “malicious combination of selective misinformation and stale, baseless, and discredited allegations.” Adani Group did not address specific allegations in its official statement but said it has always complied with the law.
- The conglomerate also said that the timing of the report suggested malicious intent to “undermine the Adani Group’s reputation with the principal objective of damaging the upcoming follow-on Public Offering from Adani Enterprises,” referring to the group’s plans for increasing the amount of freely traded shares.
- On Thursday, Adani Group said in a new statement that it is considering legal action against Hindenburg. “We are evaluating the relevant provisions under US and Indian laws for remedial and punitive action against Hindenburg Research,” said Adani Group Legal Head Jatin Jalundhwala.
- He added that the report created “volatility in Indian stock markets” that was “of great concern and has led to unwanted anguish for Indian citizens.” The report was published days before bidding for a $2.5 billion stock sale for Adani’s secondary shares begins Friday, which will include anchor investors like the Abu Dhabi Investment Authority and Morgan Stanley.
About Hindenburg Research Adani Report PDF Download
- On January 24, 2021, Hindenburg Research released a report on the Adani Group, led by Gautam Adani, the world’s third-richest person.
- The report alleged that the group was involved in massive and “brazen stock manipulation” and an “accounting fraud scheme.”
- In response to the report, billionaire investor William Ackman tweeted that he found Hindenburg Research’s report on the Adani Group to be “highly credible”. The Adani Group has also stated that it may take legal action against Hindenburg Research for its allegations.
- The Hindenburg report stated that the Us-based firm holds short positions in the Adani Group via US-traded bonds and non-Indian-traded derivatives. The Research disclosed its short position.
Who is Gautam Adani?
- Gautam Adani is a self-made billionaire, and India’s richest man, with a net worth of roughly $118 billion as of April 2022. Much of this wealth was accumulated during the past three years through his company Adani Group, as the share prices of his key listed companies climbed, pushing the billionaire’s rank to the third-richest man in the world, behind Elon Musk and Jeff Bezos.
- The industrialist began as a commodity trader in the 1980s before he founded his company Adani Group in 1988, eventually expanding it into a private infrastructure empire that operates ports, airports, and coal mines across India and the world.
- The group also has multiple subsidiaries through its data and cable centres and the manufacturing of defence goods. It plans to expand further through a $70 billion investment in green energy businesses in the coming year. The company’s success has often been linked to lucrative government concessions, thanks to Adani’s close ties with India’s ruling Bharatiya Janata Party.
- In the past, Adani has been a vocal supporter of Prime Minister Narendra Modi’s vision for a “self-reliant India.”
Information About Gautam Adani
Gautam Shantilal Adani
24 June 1962
Ahmedabad, Gujarat, India
|Education||Gujarat University (dropped out, 1978)|
|Children||2, including Karan Adani|
|Relatives||Pranav Adani (nephew)|
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5 thoughts on “Hindenburg Research Adani Report”
Hidenburg Biggest manipulators making some small time irregularities. Have not USA backed people ,firms have very repeatedly artificially -in adhoc manner -profited from news on commerce n economic front .
Overnight becoming one the wealthiest person in the world makes one doubt his proximity with PM and BJP the ruling party. Lot of concessions rules bent ED and IT looked the other way. Educated investors are sceptical about the management take the airports managed by him are in shambles and checking for flights takes hours moreover shortage of staff. The growth and expansions of his company is not organic.
Easy money available from mostly PSU banks and manipulation of share market by overseas shell companies and promoters holding of stakes raises questions about the company’s antecedents. Companies are far from good management.
Your report helps the Indian Corporate Sector to be credible.
Each and every investors knows, the financial statements are over valuation on adani group, what special is there in hindenburg research report, i think they made well research on release the report on accurate time and date.
It’s good for indian corporate sector and small scale industries to compete if research against ADANI GROUP is found valid and accurate.