Hindenburg Research, the US-based short seller known for its investigation into the Adani Group, has teased another significant disclosure involving Bharat.
In a cryptic post on X, Hindenburg hinted at an upcoming revelation, stating, “Something big soon Bharat,” fuelling speculation about which major corporation could be the next target of their scrutiny.
In January of last year, Hindenburg shook the financial world with a report accusing the Adani Group of orchestrating “the largest con in corporate history”. The timing of the report, just before Adani Enterprises’ planned share sale, resulted in a sharp decline in the group’s stocks, wiping out around $86 billion in market value. The controversy also led to a sell-off in the group’s overseas-listed bonds.
Earlier this year, in June, the Securities and Exchange Board of India (SEBI) made new revelations in the ongoing Adani-Hindenburg saga, linking Hindenburg Research to New York hedge fund manager Mark Kingdon. SEBI alleged that Hindenburg had shared an advance copy of its Adani report with Kingdon two months before its public release, which allowed for profitable trades based on the forthcoming revelations.
Hindenburg dismissed these allegations as “nonsense,” accusing SEBI of attempting to silence those who expose corruption in Bharat. They also brought Kotak Bank into the spotlight, adding further controversy to the situation.
Founded by Nathan Anderson in 2017, Hindenburg Research has earned a reputation for taking on corporate giants with its detailed investigations. The firm, with a small team of around 10 employees, has established itself as a formidable force in the world of short selling.
