How the Adani Group reduced leverage to emerge stronger in the 12 months following the Hindenburg allegations https://economictimes.indiatimes.com/news/company/corporate-trends/how-the-adani-group-reduced-leverage-to-emerge-stronger-in-the-12-months-following-the-hindenburg-allegations/articleshow/106601675.cms Rajesh Mascarenhas & Swaraj Dhanjal Jan 6, 2024 “Our sense is that the Hindenburg saga has proved to be a blessing in disguise for the Adani Group as the company has aligned its corporate strategy with the larger, shareholders’ interest,”
The group’s valuation crashed by over 66% in two weeks— from ₹19.2 lakh crore to ₹6.7 lakh crore.
The share prices have recovered since, though not fully. The overall market capitalisation has rebounded by ₹8.5 lakh crore from the February 2, 2023, lows, but it still remains ₹4 lakh crore below its value on January 24 last year.
The promoters raised ₹39,325 crore by selling their stakes in group companies. and (QIA) Rajiv Jain’s GQG Partners $4.21 billion investment in various Adani stocks in March-August 2023 has more than doubled by now, while Qatar Investment Authority QIA’s $474 million investment in Adani Green has yielded a 74% return so far.
In the nine months to September, Retail investors in Adani Enterprises went up by more than 3 lakh. In Adani Total Gas, they went up by 3.5 lakh and in Adani Green by 2.8 lakh.