US Government Finds Hindenburg Allegations Irrelevant Regarding Adani Group

The US government, following extensive due diligence, has declared allegations made by Hindenburg Research against the Adani Group as “not relevant.” The International Development Finance Corp (DFC) extended approximately $553 million for a Sri Lankan container terminal project after subjecting the Adani Group to rigorous investigation.

Despite Hindenburg’s earlier report impacting the Adani Group’s market value, a senior US official from the DFC confirmed that the accusations were deemed inapplicable to Adani Ports & Special Economic Zone Ltd., the entity leading the Sri Lankan initiative. The DFC remains committed to vigilant oversight of the conglomerate to prevent inadvertent support of financial misconduct.

This declaration propelled shares of all 10 listed Adani Group companies, pushing their market capitalization beyond Rs 12 lakh crore. The US agency’s affirmation signifies a significant milestone, reaffirming the integrity of Adani Ports & Special Economic Zone Ltd. and bolstering investor confidence.