Adani to shift focus to innovation, transparency after SEBI’s closure

‘Today, a cloud that had hung over us for more than two years has been lifted’ Gautam Adani said in an internal message to staff

- OUR CORRESPONDENT

Days after receiving a clean chit from SEBI over the Hindenburg allegations, billionaire Gautam Adani said his ports-to-energy group will now shift toward accelerating innovation, improving transparency, and building for long-term impact.

“Today, a cloud that had hung over us for more than two years has been lifted,” Adani said in an internal message to staff. “SEBI's comprehensive investigation has concluded by rejecting all allegations contained in the Hindenburg report from January 2023.”

‘The January 2023 Hindenburg report accused the group of accounting irregularities, stock price manipulation, and the use of opaque offshore entities - allegations that triggered a selloff across Adani’s listed companies and erased more than $150 billion in market capitalisation at one point.

Adani Group repeatedly denied the allegations made by Hindenburg, which has since disbanded.