Gautam Adani: Hindenburg report combination of targeted misinformation, discredited allegations

NEW DELHI: Billionaire Gautam Adani on Tuesday reiterated that the Hindenburg report was a combination of misinformation and discredited allegations.

Speaking at the AGM of his group companies, he said that on the eve of Republic Day this year, US-based short-seller Hindenburg Research published a report to short group stocks just as it was planning to launch the largest Follow-on Public Offering in India’s history.

“The report was a combination of targeted misinformation and discredited allegations, the majority of them dating from 2004 to 2015.

“They were all settled by the appropriate authorities at that time. This report was a deliberate and malicious attempt aimed at damaging our reputation and generating profits through a short-term drive-down of our stock prices,” he said.