Lockdown imposed on short selling company Hindenburg, had caused loss of billions of dollars to Gautam Adani
New Delhi. Hindenburg Research, the American short-selling firm that shook the empire of Indian businessman Gautam Adani and caused losses of billions of dollars to his companies, is going to be closed. Its founder Nate Anderson revealed this on Wednesday. Anderson said running the firm has been “the thrill of a lifetime.” Anderson said, “The plan was that it would be shut down after we finished the ideas we were working on. That day is today.” Hindenburg Research was established in 2017. It made its name for exposing fraud, corruption and mismanagement in industries. Regarding this, Anderson said, “We shook up some empires that needed to be shaken up.”
Report was given against Adani Group
On January 25, 2023, Hindenburg Research released a report against Adani Group. The report accused Adani Group of financial fraud and stock price manipulation. This report created a stir in the entire country. Adani Enterprises was about to launch an FPO (follow-on public offer) worth Rs 20,000 crore. This report was released just a few days before that. It was alleged that SEBI had started investigation into the transactions of Adani Group, but due to political interference the investigation has been stalled for more than one and a half years. Congress and other opposition parties attacked the central government over the report. Its echo was heard from the road to the Parliament.
billions of dollars lost
Adani Group denied Hindenburg's allegations, calling them “baseless” and said such allegations against Hindenburg were made to depress its share prices. Hindenburg report caused huge loss to Adani Group. By February 24, 2023, shares of Adani Enterprises had fallen by 59%. This resulted in the loss of billions of dollars from the company's market value. Also Read- PM Modi bowed before the Dappu artist, seeing this the BJP leader broke his silence! Delhi Election 2025: Sandeep Dixit will file nomination from New Delhi today, Kejriwal-Pravesh Verma…
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