Hindenburg shorts India's Adani citing debt, accounting concerns; shares plunge
The group, which is led by Gautam Adani, the world's third richest person according to Forbes, dismissed the U.S. short-seller's claims as baseless, saying it was timed to damage its reputation ahead of a large share offering. The group's flagship firm, Adani Enterprises, will on Jan. 27 launch the country's biggest public secondary share offering, aiming to raise to $2.5 billion to fund capital expenditure and pay off some debt.