Hindenburg Research

According to the latest wealth rankings, Adani’s net worth has reached $92.6 billion, placing him ahead of Ambani, whose fortune is estimated at $90.8 billion. This shift has positioned Adani at the top spot both in India and across Asia.

India's centibillionaire Gautam Adani is considering legal action against US-based hindenburg research over its report, accusing his group of "brazen stock manipulation and accounting fraud" that wiped nearly Rs 97,000 crore off the value of his conglomerate's shares in Wednesday's trade.

Roblox is accused by hindenburg research of inflating its user numbers by including alt accounts and bots. Hindenburg's investigation reveals discrepancies in daily engagement metrics and exposes children to explicit content. Roblox denies the allegations, attributing them to Hindenburg's short-selling motives, but company shares fell following the report.

Adani Group shares surged with Adani Power leading at Rs 599.90 following the closure announcement of US investment firm hindenburg research. Hindenburg had earlier published damaging reports affecting Gautam Adani's business interests.

hindenburg research will shut down as its founder Nate Anderson has announced the firm’s closure. In a post which could be seen as a reaction to the Hindenburg shit down news, Adani Group CFO Jugeshinder Robbie Singh said...

The Financial Services Commission of Mauritius responded to allegations by hindenburg research of using Mauritian shell companies and labeling the country a "tax haven." The FSC stated that Mauritius follows strict international practices, does not license the named funds, and emphasized compliance with OECD standards. The Adani Group and SEBI Chairperson Madhabi Buch denied any connection to the allegations. This statement comes in response to Hindenburg's allegations of complex offshore structures involving these funds and their connection to Vinod Adani and the current SEBI Chairperson, Madhabi Buch.

hindenburg research, known as a corporate muckraker, is shutting down after completing its investigations. Major cases include the Adani Group and Nikola Corporation.

Adani Group, which is in the eye of a corporate-cum-stock market storm due to a damning report by US-based short seller hindenburg research, late on Sunday said that 68 of the 88 questions posed by the firm were already addressed through annual reports of various group companies, offer documents and stock exchange disclosures. The group likened the damning allegations made by hindenburg research to a “calculated attack” on India, its institutions and growth story, saying the allegations are “nothing but a lie”.

Adani Group, which is in the eye of a corporate-cum-stock market storm due to a damning report by US-based short seller hindenburg research, late on Sunday said that 68 of the 88 questions posed by the firm were already addressed through annual reports of various group companies, offer documents and stock exchange disclosures.

Nathan Anderson, founder of hindenburg research, has been instrumental in uncovering corporate fraud since 2017. The firm, renowned for its incisive reports, has significantly impacted stock prices of companies like Nikola Corporation and Adani Group. Despite facing criticism and legal challenges, Anderson's investigations have spurred greater corporate transparency and regulatory scrutiny.

The Bharatiya Janata Party criticizes the Congress party for relying on findings from hindenburg research, which recently announced its shutdown. Hindenburg's founder Nate Anderson cites personal reasons for disbanding the firm, despite past controversies and challenges, including the significant impact on the Adani Group's market valuation.

Sebi began looking at offshore investments into Adani’s ports, power and infrastructure empire in October 2020. The heart of the matter is whether Adani used companies registered abroad to conduct business and pump up his share prices without properly disclosing affiliations. Adani has repeatedly denied wrongdoing and said it has made all required disclosures.

Hindenburg says it specializes in “forensic financial research.” In layman’s terms, it looks for corruption or fraud in the business world, such as accounting irregularities and bad actors in management. The Adani Group has blasted the accusations, calling them “a malicious combination of selective misinformation and stale, baseless and discredited allegations that have been tested and rejected by India’s highest courts.”

The report and its unsubstantiated contents were designed to have a deleterious effect on the share values of Adani Group companies as hindenburg research, by their own admission, is positioned to benefit from a slide in Adani shares, he said.

The report and its aftermath wiped out $110 billion from Adani's listed stocks in slightly more than a week, and its flagship Adani Enterprises was forced to abandon a $2.5 billion stock offering.

The Adani Group plans to prepay a $500 million bridge loan due next month after some banks balked at refinancing the debt following a short seller report that sent the group's assets tumbling. Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd cement assets last year. A portion of that loan is due March 9.

Foreign investors, many of them already underweight what they consider an overpriced stock market, are reducing exposure.

The Adani Group on Sunday issued a detailed statement countering the serious stock manipulation allegations levelled by the hindenburg research, saying that is "shocked and deeply disturbed" to read the recently released report.The Gautam Adani-led group likened the allegations levied by short seller hindenburg research to a "calculated attack" on India, its institutions and growth story.

The Supreme Court agreed to hear on Friday the plea seeking court-monitored probe into hindenburg research report on Adani firms. hindenburg research released a report last month making allegations about stock manipulation and accounting fraud against Adani group firms. The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

Madhabi Puri Buch, SEBI chairperson, and her husband, Dhaval Buch, denied allegations by hindenburg research regarding their involvement in offshore entities tied to the Adani Group scandal. The couple also expressed their disappointment and accused Hindenburg of resorting to character assassination in response to the regulatory measures. They emphasized that their life and finances are transparent and that they have consistently provided all necessary disclosures to SEBI over the years.

The group will now shoot for revenue growth of 15% to 20% for at least the next financial year, down from the 40% growth originally targeted, said the people, who didn’t want to be named as the discussions are private. Capital expenditure plans will also be scaled down, they said.

“We estimate that their exposures to Adani are less than 1% of their total loans,” Moody’s said in a report Tuesday. “We estimate that the bulk of the exposures are collateralized, either with operational assets or with projects under execution, rather than to the corporate level.”

Gautam Adani's Adani Green Energy Ltd. successfully sold $600 million in 20-year green dollar bonds with a 7.45% yield. This comes after a previous attempt in October was postponed due to investor pushback on the higher proposed yield. The company plans to use the funds to repay foreign-currency loans.

Adani was speaking at an event at the Haifa Port in Israel on Tuesday and didn’t mention anything about the controversy surrounding the allegations. Adani’s appearance came after his flagship Adani Enterprises Ltd. had its $2.5 billion follow-on share sale fully covered on the final day.

hindenburg research's decision to only go short on Adani Group securities outside India has highlighted the limitations of the practice in the nation and the peculiarities of the business empire itself. India's authorities have imposed a bevy of restrictions on short selling, including requiring institutional investors to disclose planned trades to the stock exchange before they are executed, and making their retail counterparts close positions each day.

Super Micro Computer, a server manufacturer with notable gains from AI trends and a partnership with Nvidia, is accused by hindenburg research of accounting manipulation, causing a 5 per cent stock drop. Allegations include undisclosed transactions and export control non-compliance. Reuters couldn't independently verify these claims based on interviews and records reviewed.

The development comes as Gautam Adani's conglomerate reviews capital expenditure plans in the wake of a massive sell-off of his companies' shares, triggered by a scathing report by the US-based hindenburg research on January 24.