Adani Group CFO Shares a Cryptic Post Following Shutdown of Hindenburg Research

Following Hindenburg Research’s disbandment, Adani Group CFO shared a cryptic post on X. Jugeshinder Robbie Singh CFO wrote, “Kitne Ghazi Aaye, Kitne Ghazi Gaye”.

The US-based short seller’s founder Nate Anderson declared the official disbandment on January 15.

Previously, the short seller published several reports accusing the business conglomerate of stock manipulation. This in turn wiped out billions of dollars from the market capitalisation of Adani Group.

On BSE, shares of Adani Power, Adani Green Energy and Adani Enterprises surged by 9.21%, 8.86% and 7.72% respectively, while Adani Total Gas advanced 7.10%, and NDTV gained 7%.

Reiterating about the shutdown, Anderson said “As I've shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today.”

Notably, the news about the closure comes shortly before the Biden Administration's four-year term concludes. He said, “So, why disband now? There is not one specific thing-no particular threat, no health issue, and no big personal issue. Someone once told me that at a certain point a successful career becomes a selfish act. Early on, I felt I needed to prove some things to myself. I have now finally found some comfort with myself, probably for the first time in my life.”