Hindenburg Research, the entity which shorted Adani stocks and led to a massive crash in the conglomerate’s market value, has posted a cryptic message on social media platform X, wherein it said, “Something big soon India”.
The Hindenburg report alleged stock manipulation and fraud by the conglomerate. The case is related to the allegations (part of a report by short-seller Hindenburg Research) that Adani had inflated its share prices. After these allegations were published, it led to a sharp fall in the shares of various Adani group companies stocks, reportedly to the tune of over USD 100 billion.
The US short seller’s report was published two days before a USD 2.5 billion follow-up public offering was issued by Adani Enterprises.
In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which your Group has been established” he told the gathering.
