Hindenburg Research Hints at Another Major Revelation in India

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New Delhi, August 10, 2024: The financial world is abuzz with speculation after Hindenburg Research, the notorious US-based short seller, hinted at another significant revelation involving an Indian company. Known for its explosive report on the Adani Group in January 2023, which led to a dramatic $86 billion drop in the conglomerate’s market value, Hindenburg is once again in the spotlight.

In a cryptic post on X (formerly Twitter), Hindenburg stated, “Something big soon India,” leaving the financial community on edge. Although the firm has not disclosed any further details, the teaser has already sparked widespread speculation.

The previous report by Hindenburg sent shockwaves through the markets, leading to a massive sell-off of Adani's bonds overseas and placing the group under intense scrutiny. The situation further escalated when India’s Securities and Exchange Board (SEBI) issued a notice against Hindenburg in June 2024, accusing the firm of violating Indian regulations.

The notice brought to light alleged connections between Hindenburg Research and New York hedge fund manager Mark Kingdon. It was revealed that Kingdon Capital, which held significant investments in Kotak Mahindra Investments Limited (KMIL), received an advance copy of Hindenburg’s Adani report. This allowed the hedge fund to profit handsomely by taking short positions in Adani Enterprises, earning $22.25 million.

Hindenburg’s response to the SEBI notice was defiant, dismissing it as "nonsense" and accusing the regulator of trying to silence those who expose corruption in India. The firm also criticized SEBI for allegedly protecting powerful Indian businessmen from scrutiny, highlighting that the notice avoided naming Kotak Bank despite its supposed involvement in offshore fund structures related to the Adani Group.

As Hindenburg gears up for its next move, the financial sector is on high alert. The question on everyone’s mind: Which Indian company will be the next target of the controversial short seller?

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