Gautam Adani addressed the Hindenburg report, calling the accusations “baseless” and “designed to defame” the Adani Group. During the 32th Annual General Meeting (AGM) of Adani Enterprises on June 24, 2024. He stated that the report was a malicious attempt to damage the company’s reputation and erode its market value.
In his speech, Gautam Adani said “We were faced with baseless accusations made by a foreign short seller, that questioned our decades of hard work. In the face of an unprecedented attack on our integrity and reputation. We fought back and proved that no challenge could weaken the foundations on which your Group has been established.”
He specified that over the past year, the Adani Group fought a dual challenge of misinformation and political accusations, strategically timed to coincide with a crucial follow-on public offer.
Adani also highlighted the company’s growth and resilience, emphasizing its commitment to sustainable development and nation-building. He reassured shareholders of the company’s strong fundamentals and future prospects.