7 Adani group firms lose total of $48 bln sinceBill Ackman says Hindenburg report "highly credible"plunged on Friday after a scathing report by a U.S. short seller triggered a selloff in the conglomerate's listed firms, casting doubts on the success of the company's record $2.45 billion secondary share sale.
"The news cycle in the past few days has clearly impacted the share sale and you can clearly see that in the subscription levels, especially the low retail participation," said Narendra Solanki, fundamental research head at domestic brokerage Anand Rathi. India's capital markets regulator is studying the Hindenburg report as it may help its own probe into offshore fund holdings of Adani Group, two other sources said. Spokespersons for the regulator and Adani had no immediate comment.Adani Group dismissed the Hindenburg report as baseless and said it is considering whether to take legal action against the New York-based firm.
Source: News Formal (newsformal.com)
Major investigation coming up, some shares have risen 30x in 4years Similar to Bitcoin rally, out of now where
You have to love HindenburgRes, keep them honest fellas.
Important to note that world's biggest taxhaven is Delaware, home to most US major companies. Also, not all employees of all companies on the planet have Linkedin accounts. But, yeah, Adani did circular trading, inflating turnover and questionable / wrong accounting.
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India's Adani kicks off $2.45 billion share sale while under short-seller attackIndia's Adani Enterprises Ltd began a record $2.45 billion secondary share sale for retail investors on Friday, days after the Adani conglomerate - controlled by one of the world's richest men - was attacked by a short seller.
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India's Adani kicks off $2.45 bln share sale while under short-seller attackIndia's Adani Enterprises Ltd began a record $2.45 billion secondary share sale for retail investors on Friday, as a heavy selloff in Adani group companies intensified after an attack by a U.S.-based short seller.
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Adani Group Weighs Legal Action Against Hindenburg After Listed Shares Take Major HitThe group’s founder Gautam Adani dropped to fourth on Forbes' list of the world’s richest people, as the conglomerate’s listed companies continue to be hit by a selloff. Hindenburg also wants them to take legal action. What a threat ! But Truth is powerful
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