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Hindenburg bet against Indian Adani intrigues rival US short sellers

Feb 1 (Reuters) – When Hindenburg Research disclosed a short position in Adani Group last week, some U.S. investors said they were intrigued by the actual mechanics of its trading because Indian securities rules make it difficult for foreigners to bet against companies there. Hindenburg’s bet has been lucrative so far. His allegations, which the …

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Adani drops $2.5bn share sale in blow to Indian tycoon

NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship company on Wednesday called off its $2.5 billion share sale in a dramatic reversal as the rout sparked by criticism from a U.S. short seller erased billions more of the value of the Indian tycoon’s shares. The withdrawal of the Adani Enterprises (ADEL.NS) stock offering marks …

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Gautam Adani loses Asia’s richest crown as stock rout worsens to $84bn

BENGALURU, Feb 1 (Reuters) – Indian tycoon Gautam Adani lost his title as Asia’s richest person on Wednesday as the rout of his conglomerate’s biggest companies worsened to $84 billion following a a report on short sellers. A Hindenburg Research report last week alleged the group’s misuse of offshore tax havens and stock manipulation, as …

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Crucial sale of Adani shares 85% subscribed as institutions inject funds

MUMBAI, Jan 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale edged closer to full subscription on Tuesday as investors pumped in after a tumultuous week for his group in during which its shares were ravaged by a scathing report on short sellers. The secondary sale of shares in flagship Adani Enterprises (ADEL.NS) …

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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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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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