Concerning the Hindenburg report, on July 18, 2023, Gautam Adani, the chairman of Adani Enterprises, held a meeting assuring its stakeholders that the company is still going strong and is returning from the damage done by the Report.
Adani Hindenburg Report
January 24, 2023, Hindenburg released a report claiming that Adani has been forging account statements and is committing the most significant con in corporate history by publishing a report named, ‘Uncovering the Biggest Corporate Fraud in History: The Tactics Employed by the World’s Third Wealthiest Individual.’
Adani After Hindenburg Report
After the Hindenburg Report was released, the company experienced a significant downfall in market capitalisation overnight; the Report drastically changed the landscape of the Adani group.
The Report killed off $ 153 billion in market capitalisation in a few days.
Losing this much stake in a matter of days is unsuitable for any company. Still, gautam adani fought back, claiming that the Report was baseless and was an attempt to damage the company’s reputation.
Before the Hindenburg report, Adani’s enterprise share price was ₹ 3,443.05, and in 10 days, the company lost 97 Billion Rupees.
Gautam Adani and Company kept their efforts high. They made valuable deals to pull Adani enterprises and their various ventures out of the gutters and into the prestigious position it once was.
A month after the Report was published, Adani already had a game plan and started to fight back by visiting and making deals in global financial hubs like London, Dubai And Singapore.
Adani Green Results
July 31, 2023, Adani Green Enterprises showed a 50% jump in 1Q profit thanks to the sales of green energy.
Adani Renewable Energy Park Rajasthan
Adani Green Energy Ltd. (AGEL) announced its plans to set up the world’s most significant wind and solar park in Gujarat’s Kutch district.
Spread over 291sq km; it will generate 20GW of clean energy.
Gautam Adani is planning for the future of India, where Mumbai will get 60% of its total energy demands through clean and renewable sources.
The Plan is to create a plant generating 45GW of renewable energy by 2030.
Adani Dharavi Project
Gautam Adani intends to turn Dharavi, one of Asia’s largest slums in the heart of Mumbai, into a modern city hub after the government approves redevelopment.
Adani said he wants to “transform Dharavi into a modern city hub” by supporting small industries and promoting new jobs focused on young people and women, he wrote in a LinkedIn post-Thursday.
Gautam Adani Net Worth And Adani Market Cap
Before the Hindenburg Report, Gautam Adani was listed as the 3rd Richest person in the world.
After the Report, the position slipped to number 43rd.
After the Backlash and his efforts to regain his position as a market leader, the chairman has again moved up to the 24th wealthiest billionaire in the world.
The market cap of Adani Enterprises is ₹2,82,846 Cr as of August 1, 2023.
Large Investments And Backup
Recently the news of Rajiv Jain, Chairman and Chief Investment Officer of GQG Partners, showed his trust in Gautam Adani and invested $3.5 billion in Adani Enterprises.
Rajiv said this investment was because Adani has the best infrastructure assets available in the country. The company’s thinking is future-oriented, and investment will benefit both parties.
Bain Capital US Based private investment firm based in Boston.
Bain Capital has also shown its interest in Adani Enterprises and invested $120 million into the company.
Gautam Adani The Master Of Comeback
Even After the Adani-Hindenburg Saga, Adani still has the highest market share among the private sector companies in India.
- In India, Adani Enterprises manages almost half of the shipping containers, 43% of all shipping containers.
- The most significant share of solar and wind power facilities, with about 22% of private thermal power capacity
- 51 % of private electricity transmission in India
- Adani’s airports assist in the yearly transportation of roughly 75 million people.