Adani Group Says in Bondholder Call Hindenburg Report Is ‘Bogus’
- Adani Group holds call with investors after bonds hit
- Says assertions of accounting fraud were ‘devoid of facts’
This article is for subscribers only.
Companies linked to Indian billionaire Gautam Adani plan a detailed response Friday to a short seller’s report that they labeled as “bogus,” according to bondholders who participated in a conference call with Adani executives.
The Adani Group held the call with fixed-income investors after US short seller Hindenburg Research leveled a series of extraordinary allegations about the sprawling conglomerate. Adani Group set out a reply to some of the issues in an 18-page presentation titled “Myths of Short Seller” on the call, according to people familiar with the matter, who asked not to be named as the talks were private.