Mumbai: Adani Group Chairman and India’s second richest man Gautam Adani talked about the severe effects of a false narrative used against the company by Hindenburg Research which led to the loss of USD 100 billion market value. He said that in the current environment it is also essential to assert truth as silence leaves space for others to script your destiny.
What Did Gautam Adani Say On Hindenburgs Report?
While addressing students at Whistling Woods International Institute the bullionaire businessman said that Hindenburg published a manipulated script in 2023 crafted to provoke doubt.

“I can say from my personal experience because I saw first-hand how swiftly a false script could be propagated when in January 2023 a foreign short seller Hindenburg Research launched a calculated attack against us. It was not just a short seller report that they had published but a manipulated script crafted to provoke doubt and amplified through multiple global echo systems he said.
What Is A Hindenburg Report?
Two years back in January 2023 Hindenburg a US-based short selling company which is known for its controversial reports against big companies published a report accusing the Adani Group. The US company accused the Adani Group of financial irregularities. This led to a massive drop in the companys stock price. The Adani group promptly rubbished the claims.

The Adani Group one of the most prominent business groups in India has repeatedly denied all the accusations published in the report.
HIGHLIGHTS

Gautam Adani said Hindenburg’s 2023 report was a manipulated narrative which caused the Adani Group USD 100 billion market loss.
He said that false stories can move markets faster than facts.
SEBI found no violations or irregularities in Adani Group transactions.
Adani urged businesses to communicate their stories with authenticity.

What Did Gautam Adani Say On Stock Market’s Reaction On Hindenburg Report?
Gautam Adani spoke about the quick reaction of the stock market to the false narrative. In a matter of days over USD 100 billion of our market value was erased not because any fundamentals had changed not because facts had failed but because a totally false story had been weaponised Adani said.

That period revealed a reality we are living in: an era where narratives move markets faster than numbers where headlines can undo decades of hard work and where stories of truth trail stories of perception he added.

Adani spoked about an immediate need for proactive communication This experience taught me that in todays world truth must also be loudly told. For silence leaves space for others to script your destiny. If we do not narrate who we are others will rewrite who we were. That is why we must own our story not with arrogance but with authenticity not as propaganda but as purpose.
What Was SEBI’s Conclusion On Hindenburg Report Against The Adani Group?
Last month the Securities and Exchange Board (SEBI) gave its conclusion in the matter of the allegations made by the US Short seller Hindenburg against the Adani Group. SEBI concluded that there is no violation of the listing agreement or SEBI Listing Obligations and Disclosure Requirements (LODR) and the impugned transactions do not qualify as related party transactions.

Adani concluded by urging businesses and individuals to own their stories with sincerity: That is why we must own our story not with arrogance but with authenticity not as propaganda but as purpose.

(with agency inputs)