Adani Group Refutes Research By Hindenburg, Says Report Aims To Damage FPO

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By Mohammed Kudrati Gautam Adani-led Adani Group strongly refuted allegations of corporate fraud levelled by US activist investor Hindenburg Research alleging that the report’s main objective was to damage Adani Enterprise’s upcoming Follow-on Public Offering. Further, the Indian conglomerate said that Hindenburg Research made no attempt to contact it, in a statement attributed to Adani Group’s Chief Financial Officer Jugeshinder Singh The group’s stocks were reeling on Wednesday following publication of the research report. Hindenburg Research, founded by activist shortseller Nate Anderson, a…

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