AFTER THE STORM

SIX MONTHS AFTER A HINDENBURG REPORT LED TO A MELTDOWN IN ADANI GROUP STOCKS, THE CONGLOMERATE IS TRYING TO STRIKE A BALANCE BETWEEN GROWTH, CAPEX AND DELEVERAGING ITS DEBT

- ANAND ADHIKARI

GAUTAM ADANI, 61, loves business jargon. Just a few months ago, the billionaire, caught in the cross hairs of the US-based short-seller Hindenburg Research, stumbled upon a new term, ‘permacrisis’. The term, which refers to a prolonged period of uncertainty, was chosen as Collins Dictionary’s word of the year in 2022. It describes the turbulent and uncertain nature of that year, and perhaps also the situation the Adani Group’s Chairman and Founder finds himself in—as he navigates the mother of all existential crises of his three-decade entrepreneurial journey.