Hindenburg Research has said that contrary to claims made by Indian regulatory authorities that it had a massive financial windfall from its short position in Adani’s securities, it had made only $4 million in gross revenue. “We have made $4.1 million in gross revenue through gains related to Adani shorts from that investor relationship. We made just $31,000 through our own short of Adani U.S. bonds held into the report. “Net of legal and research expenses (including time, salaries/compensation, and costs for a 2-year global investigation) we may come out ahead of breakeven on our Adani short,” it added. In the show cause notice SEBI has alleged that Hindenburg Research was involved in unfair practices and violated Indian regulations with respect to trading in the shares of Adani Enterprises.

Source: The Hindu July 03, 2024 00:46 UTC