The US-based short seller Hindenburg Research, made a huge disclosure about India on Saturday. The company said on X on Saturday that “Something big soon India.”
This follows their controversial investigation from January of last year, which examined the Adani Group in advance of Adani Enterprises’ scheduled share sale. Adani Enterprises Ltd.’s (AEL) stock price fell precipitously after Hindenburg’s analysis was made public, collapsing by 59% in less than a month.
Conversely, the Securities and Exchange Board of India (SEBI) recently disclosed fresh information on Hindenburg’s connections to New York hedge fund manager Mark Kingdon in the current Adani-Hindenburg drama.
Kingdon was able to profit from strategic transactions because, according to SEBI, Hindenburg sent Kingdon an advance copy of its research on Adani over two months before it was made public. Hindenburg and Kingdon Capital Management negotiated a “Research Agreement” in May 2021, which was detailed by SEBI in a lengthy 46-page show cause notice.
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Divya Gautam 
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