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News on Medial
Adani puts Hindenburg behind with a $3-billion fundraising plan
Livemint
·
1y ago
Medial
The Adani Group is in talks with several global private equity firms and Indian banks to raise $2.5-3 billion in the next four months. Firms such as Centerbridge Partners, Pacific Capital Group, and International Holding Co. have expressed interest in investing in Adani New Industries, Adani Airport Holdings, and Adani Green Energy. The funds will be used to fast-track projects in the airport and renewable energy sectors, including the Navi Mumbai International Airport and the group's green hydrogen and solar panel manufacturing businesses. The Supreme Court ruling on the Hindenburg Research case has renewed interest in the Adani group's projects.
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Adani shrugs off Hindenburg effect, back to rapid expansion spree
Thehindubusinessline
·
1y ago
Medial
The Adani Group has demonstrated a rapid expansion spree in recent weeks. Key developments include the acquisition of a stake in Gopalpur Port, the opening of a $1.2 billion copper manufacturing plant, investment in Ambuja Cements, the commissioning of a solar project, and a collaboration with Reliance Industries for a power project. These moves indicate that the conglomerate has put behind the Hindenburg effect, with its share prices recovering and revenues growing. The Adani Group plans to continue expanding its infrastructure business with a planned capital expenditure of ₹7 lakh crore over the next decade.
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Adani stocks recover after losing $19 bn amid Hindenburg's fresh allegations
VCCircle
·
12m ago
Medial
Adani Group's stocks suffered a $19 billion loss in market value following allegations made by Hindenburg Research. The short-selling firm accused the head of India's market regulator of having links to offshore funds used by Adani. Adani's stocks partially recovered later in the day. This is not the first time Hindenburg has targeted Adani Group with allegations of improper use of tax havens. Despite the losses, Adani's stocks have generally regained value since Hindenburg's initial report in January 2023. Adani has denied all the allegations made against it.
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All Adani group stocks tumble; Adani Energy slumps 17%
YourStory
·
12m ago
Medial
In early trading on Monday, all ten Adani group stocks experienced a slump, with Adani Energy dropping by 17%, following allegations made by US short-seller Hindenburg Research. Hindenburg claimed that SEBI chairperson Madhabi Puri Buch and her husband had undisclosed investments in offshore funds used by Vinod Adani to manipulate stock prices. This resulted in a decline in stocks for Adani Energy Solutions, Adani Total Gas, NDTV, Adani Power, and other related companies. Buch and her husband denounced the allegations, referring to them as an attack on SEBI's credibility.
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Adani is said to plan raising $1.2 billion for flagship firm
Livemint
·
1y ago
Medial
Adani Enterprises Ltd, the flagship firm of Indian billionaire Gautam Adani, is reportedly considering raising around $1.2 billion to $1.4 billion through a share sale. The company may opt for a qualified institutional placement (QIP), with the fundraising potentially taking place in September. Adani Group is seeking institutional investors, particularly from the US, to expand its shareholder base and attract more research analysts. Details of the share sale, including size and timing, are yet to be finalized. The potential fundraising comes after Adani Energy Solutions Ltd recently raised $1.13 billion through a share sale.
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Gautam Adani's wealth rises by $5.6 billion amid market rally
Livemint
·
1y ago
Medial
Billionaire Gautam Adani's net worth surged by $5.6 billion following a market rally prompted by the Supreme Court hearing on the Hindenburg report-related matter. The court reserved its verdict on allegations of corporate fraud against the Adani Group, noting that it won't solely rely on media reports. Adani is now ranked 20th on the Bloomberg Billionaires Index with a fortune of $65.8 billion. Additionally, Adani Group stocks gained about $9.8 billion in market value, driven by market optimism after the ruling party's victory in state elections.
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Hindenburg responds to SEBI on Adani show cause notice: 22 key points of defence | Mint
Livemint
·
1y ago
Medial
Hindenburg Research has responded to the show cause notice from the Securities and Exchange Board of India (SEBI) regarding its allegations against the Adani Group. Hindenburg shared the full notice, calling it a "bizarre" attempt to intimidate those who expose corruption and fraud in India. The notice accused Hindenburg of misrepresentation, but the firm defended its research and argued that SEBI has neglected its responsibility to address widespread fraud in the country. Hindenburg also clarified that it had only one investor relationship in its Adani thesis and made around $4.1 million in gross revenue from Adani shorts.
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Hindenburg-Adani Case: ‘Malicious, mischievous and manipulative’: Adani Group on US short seller’s latest allegations | Mint
Livemint
·
12m ago
Medial
Adani Group has dismissed allegations made by Hindenburg Research as "malicious" and "manipulative." In a statement, the conglomerate stated that its overseas holding structure is transparent and that the claims made by Hindenburg are recycled and discredited. Adani Group emphasized its commitment to transparency and compliance with legal and regulatory requirements. The allegations by Hindenburg Research relate to whistleblower documents regarding investments in offshore funds by SEBI Chairperson Madhabi Puri Buch and her husband, which they have vehemently denied.
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Adani AGM 2024: Hindenburg accusations were ‘baseless’, designed to defame us
Livemint
·
1y ago
Medial
In a recent annual general meeting, Gautam Adani of Adani Enterprises dismissed the Hindenburg report's allegations as baseless. While he did not name the short seller responsible, Adani stated that the attack on the company's financial standing was a calculated strike aimed at defaming them. The Hindenburg report had accused Adani of using tax havens, raising concerns about debt, and engaging in stock manipulation. The Adani group has strongly refuted these allegations, referring to them as unsubstantiated speculations.
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Rajiv Jain’s GQG sees its investment in Adani stocks grow 150% to $10 billion
Money Control
·
1y ago
Medial
GQG Partners Chairman and Chief Investment Officer Rajiv Jain has seen his investments in the Adani Group grow by 150% over the past year, reaching a total value of $10 billion. Jain strategically invested in various Adani enterprises following a report by Hindenburg Research in January 2023 that raised concerns about corporate governance and debt-related issues. His total investment of $4.3 billion in Adani companies, including Adani Power and Adani Green Energy, has significantly appreciated in value. Jain's successful investments have cemented his reputation as a skilled investor in various sectors.
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Sensex, Nifty decline in early trade; Adani group stocks slump
YourStory
·
12m ago
Medial
Equity markets in India, including the Sensex and Nifty, declined at the start of the week due to investor caution surrounding a report by US short-seller Hindenburg Research. The report alleged undisclosed offshore investments by the SEBI chairperson and her husband, in connection with the Adani scandal. Adani group stocks, including Adani Enterprises and Adani Power, experienced significant declines. Despite a recent market rebound, concerns remain about potential disruptions from the Hindenburg report. The US markets ended higher on Friday, and Asian markets showed mixed results.
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