Hindenburg Made Just $4 Million From $153 Billion Adani Rout
- Short-seller discloses show cause notice it received in June
- Notice mentions roles played by Kotak, Kingdon in Adani short
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It was one of the most impactful short-seller reports ever: Hindenburg Research’s 2023 broadside against the Adani Group erased as much as $153 billion of market value.
But it turns out the US short-seller’s gains from the saga were tiny by comparison — just over $4 million.