According to Hindenburg, they have invested close to three billion US dollars in Adani group companies. One of their funds deploying almost 99% of the capital in these entities. They also allege that some of the directors in these funds are loosely connected to Adani group firms. So if they are acting at the promoters behest, are they breaching sebi rules on the amount of shares promoters can hold in publicly listed companies? If not, why are they holding Adani shares almost exclusively? And where did they get the money for all this?
In today's episode for 31st January 2023, we summarize the tussle between Adani Group and Hindenburg Research.