The sprawling Adani Group, which he founded over 30 years ago, has established interests in industries ranging from logistics to mining.
“We view this as validation of our findings on offshore stock parking by Adani,” Hindenburg founder Nate Anderson said on Twitter.
In its report, Hindenburg had alleged that “offshore shells and funds tied to the Adani Group comprise many of the largest ‘public’ holders of Adani stock.”An Adani Group spokesperson declined to comment.
Meanwhile, Norway’s sovereign wealth fund, said Thursday it has “for all practical purposes…fully divested,” from the Adani companies.
The loans were backed by shares in Adani Ports, Adani Green Energy and Adani Transmission.