Adani | Gautam Adani's net worth falls to seventh place after Hindenburg report

Adani | Gautam Adani

Gautam Adani | Gautam Adani Looses ₹183,397 crore in just two Days.

The Hindenburg research report has created turmoil in the stock market, and the loser is the Adani group of companies.

India and Asia's richest Gautam Adani's net worth plunged significantly in just in two days after a sharp fall in bonds and stocks of the seven listed Adani group companies that free fall in two days of business as Hindenburg, a well-known US short-seller, said key listed companies in the group controlled by billionaire Gautam Adani had substantial debt, which has put the entire group in danger situation.

richest person in the world

As per the Forbes Billionaires list, Gautam Adani lost about $22.5 billion (around ₹183,397 crore), down nearly 18.85%, in and his net worth currently stands at $96.8 billion as of January 27, 2023. The Forbes Billionaires list monitors the daily rankings of the wealthiest people in the world. The figures are monitored and updated at the close of every trading day in New York.

The Adani Group is considering legal action against the US investor over its report alleging "brazen" market manipulation and accounting fraud by Asia's richest man's empire. The Adani Group, however, referred to the report on the group as "malicious combination of selective misinformation and stale."

The publication of the report came at the same time as Adani's impending follow-on public offer (FPO), which begins on Friday and ends on January 31. Shares will be offered for sale in the range of 3,112 to 3,276 each. On Wednesday, the company's flagship Adani Enterprises Ltd. said that it had secured $5,985 crore from anchor investors in preparation for its FPO.

The largest port operator in India and founder of the conglomerate Adani Group is 60 year old Gautam Adani a close friend of Indian top politician. The infrastructure firm, which is based in Ahmedabad, India, is also the largest trader and producer of closely regulated thermal coal in that nation. His $13 billion Adani Group involves investments in infrastructure, real estate, electricity generation, and commodities.

Adani Share Price

After closing of the share market, the Adani share were closed at:

Company                   Current Price            Loss

Adani Enterpris        2,761.45                      -18.52%

Adani Ports               596.95                        -16.29%

According to March 2022 stock exchange records, he holds 75% of Adani Enterprises, Adani Power, and Adani Transmissions. Additionally, he holds a 37% stake in Adani Total Gas, a 65% stake in Adani Ports & Special Economic Zone, and a 61% stake in Adani Green Energy.

The Indian industrialist dropped to fourth place earlier this week on the list of the world's richest people as Amazon's Jeff Bezos passed him to become the third-richest person on the planet.

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