Key Points
When Hindenburg Research published a report into Gautam Adanis sprawling business empire in January 2023, accusing Asias then richest man of fraud going back decades, the impact was immediate and explosive: over $100 billion was wiped off the value of his companies.. ..
Eighteen months on, Adani who has denied any wrongdoing has largely recovered from the broadside and the tiny US short seller has revealed how much it made betting against the Indian billionaire: justover $4 million.. ..
That figure, disclosed for the first time by Hindenburg, was published on the companys website on Monday, along with details of a letter it said it had received from Indias markets regulator.. ..
Net of legal and research expenses (including time, salaries/compensation, and costs for a 2-year global investigation) wemaycome out ahead of breakeven on our Adani short, it added.. . Hindenburgs report caused one of the most stunning upheavals in Indias corporate history..
He is currently in second spot, behind fellow countryman Mukesh Ambani, according to Bloombergs Billionaire Index.. . SEBI launched a probe into the group after the Hindenburg report, but in January Indias top courtordered the market regulator to wrap up its investigation quickly and said that no further probes into the group were needed.. ..
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The short seller that took on Gautam Adani made surprisingly little money
28, Jul, 24When Hindenburg Research published a report into Gautam Adani’s sprawling business empire in January 2023, accusing Asia’s then richest man of fraud going back decades, the impact was immediate and explosive: about $100 billion was wiped off the value of his companies.