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Hindenburg Research, the US-based short seller that had targeted several business entities including the Adani Group, is going to be disbanded, founder Nate Anderson has said.
"I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on," he said in a note on the Hindenburg website. Anderson has clarified there has been no particular threat or personal issue behind this decision to wind up.
Hindenburg targeted the Adani Group in 2022 with what the group said was "nothing but a lie" and were "calculated attacks on India". In August 2024, the short-seller launched another attack on the energy-to ports conglomerate, which snubbed the charges as "recycled claims" that had earlier been discarded.
Speaking about the short seller hit jobs a month later, Gautam Adani, the chairman of Adani Group, had said it taught him the "most profound lesson".
"Our leadership spirit was never more visible than during the financial market attack in January last year. It was a short-selling attack initiated from abroad. This was not a typical financial strike. It was a dual assault targeting our financial stability and pulling us into a political storm. It was a calculated move," he had said.
The short seller had also targeted Indian markets regulator chief Madhavi Puri Buch and her husband in the past, who had called it an "attempt at character assassination".
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)