Adani AGM | Adani’s befitting reply on Hindenburg’s report! Said – Report wrong, trying to tarnish our image

File Pic New Delhi Billionaire businessman Gautam Adani on Tuesday once again said that the Hindenburg report was wrong and the allegations were made to defame the group. He told the general meeting (AGM) of his group companies that on the eve of Republic Day this year, the report was published by American short-seller Hindenburg Research at a time when the group is planning to launch the largest follow-on public offering (FPO) in India’s history. Was planning “The report was prepared with misinformation and baseless allegations, most of which date from 2004 to 2015,” he said. Adani said, “All those allegations were settled by the appropriate authorities at that time. This report was prepared deliberately and with malicious intent to damage our reputation and profit from short term fall in our share prices.” Even after this report, the group’s FPO was fully subscribed, but it was decided to refund their money to protect the interest of the investors. “We immediately issued a comprehensive rebuttal, but some with vested interests tried to profit from the short-seller’s claims,” he said. They promoted false stories on various news and social media platforms.