The Adani and Hindenburg case is back in the news. Hindenburg Research has acknowledged that it generated about $4.1 million in revenue through short selling Adani securities via its partnership clients.
Hindenburg considers their research work on the Adani firms as one of their proudest achievements. They clarified that through their investor relationship, they grossed $4.1 million in revenue from shorting Adani stocks. Additionally, they made around $31,000 by shorting Adani’s US bonds, which they described as a very small short position.
Hindenburg also refuted reports that accused them of making millions of dollars through 12 to 16 investor partnerships. According to Hindenburg, they had only one investor partnership in the Adani thesis, which they have previously discussed in several public interviews.
Hindenburg has also criticized India's regulatory body, SEBI, accusing it of not fulfilling its responsibilities and seemingly trying to protect the wrongdoers. They claim SEBI has not acted appropriately in this matter.