SHIP08

Sale of Adani shares for $2.5 billion faces crucial day after rout

NEW DELHI, Jan 29 (Reuters) – Gautam Adani faces a critical day on Monday with his flagship company’s second day of $2.5 billion auction, eclipsed by a $48 billion rout in shares of the Indian billionaire which was triggered by a report from an American short seller. Seven listed companies belonging to the Adani conglomerate, …

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Bill Ackman says Hindenburg’s Adani report is ‘very credible’

Jan 27 (Reuters) – U.S. billionaire investor Bill Ackman said on Thursday he found short seller Hindenburg Research’s report on India’s Adani Group “very credible and extremely well researched”. Shares of seven listed Adani Group companies lost $10.73 billion in market capitalization in India on Wednesday after the US short seller released the report, which …

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Hindenburg shorts India’s Adani Group, flags debt and accounting issues

BENGALURU, Jan 25 (Reuters) – Hindenburg Research said on Wednesday it holds short positions in Indian group Adani, accusing the conglomerate of extensive and abusive use of entities based in offshore tax havens and raising concerns about the level high debt. The report, which comes days before a $2.5 billion share offering by flagship Adani …

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