Gautam Adani terms Hindenburg report as ‘targeted misinformation’
Gautam Adani, Chairman of the Adani Group, said that report released by US-based short seller Hindenburg Research was a combination of ‘targeted misinformation and outdated, discredited allegations’ aimed at damaging the conglomerate’s reputation and generate profits.
“On the eve of our Republic Day, a US-based shortseller published a report just as we were planning to launch the largest Follow-on Public Offering (FPO) in India’s history. The report was a combination of targeted misinformation and outdated, discredited allegations aimed at damaging our reputation and generating profits through a deliberate drive-down of our stock prices,” Adani said in his message to shareholders.
(This is a developing story. Check back for updates)
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Updated: 27 Jun 2023, 11:11 AM IST
