India's Gautam Adani lost his title of Asia's richest person as a rout in his conglomerate's stocks deepened to $74 billion after a short-seller report
A report by Hindenburg Research last week alleged improper use of offshore tax havens while flagging concerns about high debt and the valuations of seven listed Adani companies.
It has brought heightened scrutiny of the conglomerate with an Australian regulator saying on Wednesday that it would beThe Adani Group has denied the allegations, calling them baseless and saying it has always made necessary regulatory disclosures. Wednesday's stock losses saw Gautam Adani slip to 10th on Forbes rich list with an estimated $84.1 billion, just below rival Mukesh Ambani, the chairman of Reliance Industries LtdLatest Updates
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Asia's richest man, Gautam Adani, accuses short-seller Hindenburg of attacking IndiaIndia's Adani Group, run by Asia's richest man, has hit back at a report from U.S.-based short-seller Hindenburg Research, calling it 'malicious,' 'baseless' and full of 'selective misinformation.'
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Controversy Embroiled Gautam Adani Loses Asia’s Richest Title To Mukesh AmbaniGautam Adani on Wednesday slipped to the 10th spot of Forbes’ real-time billionaire’s list, falling behind fellow Indian billionaire Mukesh Ambani.
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Billionaire Gautam Adani Gets $400 Million Investment From Abu Dhabi Firm, Share Sale Fully SubscribedGautam Adani has won a vote of confidence from a $400 million investment by International Holding Co. (IHC)—an Abu Dhabi-based conglomerate controlled by a key member of the United Arab Emirates’ royal family—into Adani Enterprises.
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Breakingviews - Gautam Adani’s next hurdles may be harder to clearIt helps to have friendly investors and rich families on hand when finalising a tricky share sale. These groups dragged Gautam Adani’s $2.4 billion capital call across the finish line on Tuesday, despite a selloff triggered by Hindenburg Research’s short attack.
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Breakingviews - Breakingviews: Gautam Adani’s next hurdles may be harder to clearIt helps to have friendly investors and rich families on hand when finalising a tricky share sale. These groups dragged Gautam Adani’s $2.4 billion capital call across the finish line on Tuesday, despite a selloff triggered by Hindenburg Research’s short attack.
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