Last Updated on August 14, 2023 by HBW2
Adani Group is a big business conglomerate in India. It has 7 listed company in stock exchange. These are Adani Total Gas, Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Ports, Adani Power and Adani Wilmar. The group’s valuation drop from 19.20 lakh crore on 24.01.2023 to 8.55 lakh crore on 03.03.2023 after the publication of sensational Hindenburg report. The company has risen very fast from 2014 to 2023. The net worth of Gautam Adani was 120 billion dollar before this Hindenburg report. Out this approximately 100 billion dollar came from just past three years. He was 3rd richest person before the report but after publication of this research his position fallen to 26th. In the research there are some key issues have been discussed.
First of all the Adani group has manipulated the the value of stocks. The stocks have been purchased by some shell companies which were operated from Mauritius, Cyprus and many other tax heaven countries with an exceptionally high value. There are some 37 shell companies have been identified in this process. All these companies are very fishy in nature. Even some them do not posses any standard websites as well. Many of the companies are owned by the family members of Gautam Adani.
Secondly, As per rule of SEBI 25 % of the public company must be owned by public investor but in case of Adani Group it very opaque in nature.
Thirdly, another cause of the sky rocketing growth of Adani group is debt. Past few years it has taken a huge loan from different banks by mortgaging its inflated stocks. It has seen that State Bank of India and LIC have given a huge loan to this group for their projects. If the value of stocks crashes the investment of SBI & LIC will be in a great trouble. Maximum debt has been taken for the tender of government projects. So the future of Adani Group will decide the accomplishment of those projects.