The rapid rise of the Adani Group led by Indian billionaire Gautam Adani caught the attention of the entire world.
But after the US research agency Hindenburg report, the empire built by Adani seems to be falling at the same pace. Adani, who was in the 3rd position in the list of the world’s richest people, is now not even in the top 20.
On 3 February (Friday), the Indian industrialist was dropped from the list of the top 20 richest people in the world. Adani, the owner of $59 billion in assets, was in the 21st position.
According to the Times of India report, Adani came down to number 11 on January 31.
Adani’s loss of billions of dollars has brought Mukesh Ambani back to the position of India’s richest man.
According to Bloomberg data, Ambani, who owns $80.7 billion, has once again emerged as the top Indian richest man.
On the other hand, according to the report, the capital of seven companies of Adani Group registered in the stock market has decreased by 100 billion dollars in just 6 days.
Due to this shock, Adani Enterprises has withdrawn its follow-on public (FPO) from the stock market. It has been informed on their behalf that the investors in the FPO will be returned in full.
On January 24 of this year, US firm Hindenburg Research in a report accused Adani Group of financial fraud and manipulation. However, Adani Group rejected Hindenburg’s allegation.
After that, Adani Group collapsed in the stock market.
