Hindenburg Research hinted at a “big”
Announcement regarding India soon.
10/8/2024,
Following the Adani Group, Hindenburg Research may have another significant target in India, since the company has hinted at a fresh inquiry.
The US-based short seller Hindenburg Research, well-known for its investigation of the Adani Group, has alluded to yet another noteworthy revelation about India.
Hindenburg recently said, “Something big soon India,” which sparked a lot of conjecture about the company that would be its next target.
A devastating study published by Hindenburg in January of last year accused the Adani Group of masterminding “the largest con in corporate history.”
The timing of the news, right before Adani Enterprises’ scheduled share sale, caused a sharp drop in the group’s stock prices, wiping off a market capitalisation of around $86 billion. The accusations also resulted in a large sell-off of the group’s bonds that were listed abroad.
The ongoing Adani-Hindenburg issue was updated in June of this year by the Securities and Exchange Board of India (SEBI), which revealed connections between Hindenburg Research and New York hedge fund manager Mark Kingdon.
According to SEBI, Hindenburg provided Kingdon with an early copy of its Adani report around two months before its public publication, enabling Kingdon to make significant gains through calculated trading.
In response, Hindenburg said that SEBI had sent a notice alleging that they had broken Indian legislation, a claim that the company deemed to be “nonsense.”
They contended that the notification was faked to accomplish a “pre-ordained purpose” of scaring and silencing those who reveal fraud and corruption by influential people in India. For the first time, Hindenburg specifically mentioned Kotak Bank in its report, which intensified the dispute.
Nathan Anderson founded Hindenburg Research in 2017, and since then, the company has a history of focusing on large firms following thorough investigations. The company, which employs around ten people, is known for being a short-selling “David” going up against corporate “Goliaths.”
