NEW DELHI: Billionaire Gautam Adani-promoted Adani Group on Wednesday said they are shocked that Hindenburg Research published its report without making any attempt to contact them or verify the factual matrix.
Jugeshinder Singh, CFO, Adani Group, said the report is a malicious combination of selective misinformation and stale, baseless and discredited allegations that have been tested and rejected by India’s highest courts.
He added that the timing of the report’s publication clearly betrays a brazen, mala fide intention to undermine Group’s reputation with the principal objective of damaging the upcoming follow-on public offer (FPO) from Adani Enterprises, biggest FPO ever in India.
“The investor community has always reposed faith in Adani Group on the basis of detailed analysis and reports prepared by financial experts and leading national and international credit rating agencies.”