Billionaire Gautam Adani Loses More Than $60 Billion This Year Following Fraud Allegations | Forbes
Last summer, after the Adani Group completed its $10.5 billion leveraged buyout of a cement business from Swiss firm Holcim, Gautam Adani, the conglomerate’s mastermind and then world’s fifth richest man, boasted to the Economic Times that his “relationship banks” - Barclays, Deutsche Bank and Standard Chartered Bank - had “fully funded” the deal.
Those relationships may come under strain, following the publication of short seller Hindenburg Research’s explosive 32,000-word report, which alleges that the Adani Group and its principals have engaged in a years-long scheme of fraud and stock market manipulation. (The Adani Group has denied all wrongdoing and says it is considering legal action against the investment firm.)
Founded in the 1980s as a commodities trading firm, the Adani Group has grown into a $23 billion (annual sales) conglomerate with seven publicly-traded firms involved in energy, industrial and logistics businesses across India. The family-run enterprise has close ties to Prime Minister Narenda Modi, and its access to loans from Indian banks has largely funded the firm’s acquisition-driven growth.
In recent years however, U.S and European-based investment banks have stepped up to help the Adani Group raise billions of dollars through equity sales, refinancings and U.S. dollar debt offerings. In addition to the Adani Group’s “relationship” banks, J.P. Morgan, Bank of America Merrill Lynch and Credit Suisse have all brokered deals on behalf of Adani-owned companies.
Between 2015 and 2021, six different Adani Group companies raised about $10 billion through U.S-dollar-denominated bond sales that were underwritten by U.S. and European investment banks, according to financial market data provider Refinitiv. Of these 18 bond offerings, 14 were done between May 2019 and September 2021. One of these companies, Adani Ports & Special Economic Zone - which receives preferential tax treatments - was responsible for half the debt raised.
These figures do not include the Adani Group’s debt issued in Rupees and other currencies. The conglomerate had about $27 billion in outstanding liabilities as of March 2022. The State Bank of India provided funding for about 40% of debt Adani firms issued between 2020 and 2022.
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Пікірлер: 300
Many thanks, Forbes for reporting on this topic, the Indian media (called the 'Godi' media) hasn't been reporting anything on this. Please continue your good work of honest reporting.
@naranpatel4526
Жыл бұрын
This guy avoids the fact that people who are raising concern is the congress political oposition party to BJP further he points to City bank but igonors that Oaktree is buying the Adani Bonds. He also makes no referance to history of the report authors and how they will make millions /billions by shorting trade using CFD and spread bets on Adani group companies stocks.
After a nightmarish 2022, shell-shocked investors have losses to recoup and plenty to ponder, as an inflation report and a raft of other data did little to change expectations that the Federal Reserve would likely continue hiking intrest rates even if the economy slows down, Which means more red ink for portfolios for the first quarter of year 2023. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $250k bond/stocck portfolio
@edelineguillet2121
Жыл бұрын
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@halselong4517
Жыл бұрын
@@edelineguillet2121 Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
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Жыл бұрын
@@halselong4517 do you have any one guiding you now
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Жыл бұрын
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Жыл бұрын
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For 2023, it's difficult to make sure about unambiguous expectations for the real estate market is on the grounds that it's not yet clear how rapidly or how much the Central bank can cut down expansion and getting costs without failing purchaser interest for all that from homes to vehicles.
@jackbills
Жыл бұрын
There could be no more prominent opportunity than giving back the way in to an airbnb condo knowing another person needs to keep up with it. On the off chance that you appreciate revamping and adorning, maybe house buying is for you. For my purposes, property is another way we get secured and beyond remarkable cases I'd prefer put resources into Stocks/REITS to get openness to land and other speculation potential open doors.
@richiegiggs
Жыл бұрын
Given current downturn pressures, it is improbable that the stock will yield significant returns in the close to term. Notwithstanding, it could be a reasonable venture an open door. I will screen economic situations and consider buying when there is an improvement in the significant monetary pointers, any thought which stocks this might be, I just sold my home in the Boca Grande region and I'm hoping to compensate a single amount into the financial exchange before stocks bounce back, is this okay timing to purchase or no?
@dannyscott1276
Жыл бұрын
Thanks, I just googled her and am impressed with her credentials. Contacted her through her website to get her opinion on my situation
Godi media doesn't care
@Urine_boiled_egg_lover_chinese
Жыл бұрын
Lodi media will celebrate as usual
He went down stock prices of banks down and common PPL will pay his dirty debts via increasing taxes , the end
*World biggest Scammer:* India's Adani (Indian) 🤭
@funtioz123
Жыл бұрын
Pakistani 🤣🤣
@Dcb04
Жыл бұрын
World biggest loser and Scammer is Adani... Hindenberg ne Modi aur adani ko nanga kar diya 😂
@breezeanonymous6034
Жыл бұрын
@@funtioz123 Take 10 people out, 80% of India is poor. The country is an open sewage because the state has never really invested in infrastructure from its creation in 1947. India's value to the world is to produce cheap slave labor to 5he world and brainwash people to be proud of that.
@naranpatel4526
Жыл бұрын
This guy avoids the fact that people who are raising concern is the congress political oposition party to BJP further he points to City bank but igonors that Oaktree is buying the Adani Bonds. He also makes no referance to history of the report authors and how they will make millions /billions by shorting trade using CFD and spread bets on Adani group companies stocks.
@THELASTWORKINGTOILETOFINDIA
Жыл бұрын
@@breezeanonymous6034 Very true saar !!
Adani is school dropout and not college dropout 🧑🎓
@breezeanonymous6034
Жыл бұрын
Take 10 people out, 80% of India is poor. The country is an open sewage because the state has never really invested in infrastructure from its creation in 1947. India's value to the world is to produce cheap slave labor to 5he world and brainwash people to be proud of that.
@Danheim641
Жыл бұрын
@@breezeanonymous6034 100 %
In real sense Mr Modi lost more than $100 Billions .
@THELASTWORKINGTOILETOFINDIA
Жыл бұрын
He probably has more stashed somewhere 🤣
@kapil4417037
Жыл бұрын
He will collect from GST applied in food of poor people.
2013 - 602nd richest man in the world 2014 - Modi comes to power 2022 - 2nd richest man in the world
@Austin_0017
Жыл бұрын
meanwhile the poor kept getting poorer
@funtioz123
Жыл бұрын
@@Austin_0017 logic ?
@Dcb04
Жыл бұрын
India politician are corrupted in world.. 😂
@jarjarbinks3193
Жыл бұрын
Still better than the likes of Anbang and Luckin coffee. Not to mention the shining stars of CCP wonderland like Evergrande!!
@feryarisetyadi3691
Жыл бұрын
And Modi keeps silent
He will comeback even more stronger
....where there is smoke.
@rohankurian5641
Жыл бұрын
There will be a huge worldwide #adani #scam Fire 🔥🔥🔥 imagine boris johnson #blowjo was an insider 🙉🙊🙈
@JV-oi6ch
Жыл бұрын
there is Adani!
@usernamechanged7661
Жыл бұрын
That's his share price now
Nice information
Naked Short Selling Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock or determine that it can be borrowed before they sell it short. With naked shorting, the short pressure on a stock may be larger than the amount of tradable shares on the market. Despite being made illegal after the 2008-09 financial crisis, naked shorting continues to happen because of loopholes in rules and discrepancies between paper and electronic trading systems.
Nirav and lalit modi plz make some place for adani in UK.
There are many shelll companies operating in Surat Diamond companies.
Good
You guys butchered his name at 0:00 😅
👍
Make in India 🤣😂🤣
Ravisanakr Prasad has threatened Rahul Gandhi:Case against Robert Wadra's case is pending
In the country where people could easily bribed everything could happen. AVOID like a plague ...
GAi didn't "lose" $60 billion in a matter of weeks, he never had it in the first place. The share prices of the group of companies he owned we artificially inflated, and the GAi family made a fortune through some nifty bookkeeping and insider trading over some 3-odd years, mainly through the pandemic, when everyone was just locked indoors. DiMo played smokescreen.
This guy avoids the fact that people who are raising concern is the congress political oposition party to BJP further he points to City bank but igonors that Oaktree is buying the Adani Bonds. He also makes no referance to history of the report authors and how they will make millions /billions by shorting trade using CFD and spread bets on Adani group companies stocks.
Adani shall I buy plot for u in UK, I'll tell to vijay malya
Bro I thought and AI is speaking
It was fake wealth
So there like the Samsung of india
@theabhishekmondal
Жыл бұрын
No there is lot of company like adani.. Like Tata, Ambni, Lic, HDFC
@gauravnilay
Жыл бұрын
i am Indian and all my home appliances, phone , computer , laptop etc is from Samsung , its a great company always at forefront of innovation and yes the best after sale service !!
@breezeanonymous6034
Жыл бұрын
Take 10 people out, 80% of India is poor. The country is an open sewage because the state has never really invested in infrastructure from its creation in 1947. India's value to the world is to produce cheap slave labor to 5he world and brainwash people to be proud of that.
@kaustubhraizada
Жыл бұрын
@@theabhishekmondal don't compare adani with these companies 🤣
@theabhishekmondal
Жыл бұрын
@@kaustubhraizada adani stock up again 🤣🤣🤣 don't worry adani will back 🤣🤣🤣
Modi 💔 Adani
2011 USA killed laden.... 2022 Hindenberg killed LAdani 😂😂
@jarjarbinks3193
Жыл бұрын
Dream on, "genius" Adani's stocks have already started rebounding. That is why this article heading says $60 billion instead of the $100 billion story from a couple of days ago!
@Dcb04
Жыл бұрын
@@jarjarbinks3193 See ATGL and A.Green Stock 😂😂😂
@jarjarbinks3193
Жыл бұрын
@@Dcb04 Look that whole group, dim wit! Adani is a diversified groud and definitely not a one-trick pony. It has a lot of hard assets that are very important and valuable in a fast-growing economy like India.
@Dcb04
Жыл бұрын
@@jarjarbinks3193 India is worst economy in world. Adani share price Collateral value is zero by Credit Suisse, Moody's, Citi Bank 😂😂And you said growing???? Adani make a history because he make loss of 100 Billion $ in just a 10 days.. congratulations Dog adani.. 😂worst become to yet for adani
@jarjarbinks3193
Жыл бұрын
@@Dcb04 "India is worst economy in world." Looks who is talking!! 😁😆 Learn to READ, Wumao. BTW, India is NOT the country with several FAILING construction companies (mostly one-trick ponies) having MASSIVE debt and relying on a FALLING housing market. Not to mention the other fallen big cheats like Anbang and Lunkin coffee. "Adani share price Collateral value is zero by Credit Suisse, Moody's, Citi Bank 😂😂" That matters ONLY for new loans, dim wit! That too only for the time being. Learn some basic finance. "And you said growing????" YES! Once again, you should be able to READ to understand it. Check their last earnings report! 😅😂🤣 "Adani make a history because he make loss of 100 Billion $ in just a 10 days.." 😁😆Check the heading of this report, Wumao. It is already down to $60 billion from $100 billion!! Stock values go up and down. It doesn't matter that much in the long run as long as the company is profitable and has hard assets and good infrastructure on the ground.
one is a college dropout aspiring to be a big businessman .. another is a purported tea seller .. both are destroying indian economy .. dark times ..
I knew something was off with this Guy seriously I could just feel something is off with him
But still Andhbhakts believe that Goutam Adani is GouMata (Holy cow) Adani for them 🤣
@NativeVsColonial
Жыл бұрын
Drink Camel Cola and stay chill 🐫🍻 🔹Sahih Bukhari 8:82:794 Narrated Anas: Some people from the tribe of 'Ukl came to the Prophet and embraced Islam. The climate of Medina did not suit them, so the Prophet ordered them to go to the (herd of milch) camels of charity and to drink, their milk and urine.
@KanishQQuotes
Жыл бұрын
Strong words from a Bengali
The numbers will trigger an earthquake in the financial markets. Wrap up warm - the rest of the week is going to be bad
Adani World No1 soon 💪
Embarrassing 🤣
Seriously shame on Modi sharkar
This man is so selfish. He could have easily finance Swachh Bharat toilet mission 2014-2019 and end open defecation of more than 50% nationwide but he didn't. In the end, India got to borrow money from world bank to finance their toilet mission 🤭🤣
@THELASTWORKINGTOILETOFINDIA
10 ай бұрын
@rico35185 Your opinion do not matter. World Bank and Unicef's 2021 report said that India is still 15% open defecation 🤭
Thank you Nathan Anderson for Hindenburg report. Aap ne BJP aur Godi media k opor hag diya. Netanyahu ko bhi zaroor onka hissa mil gaya hoga Khun ki Aap Israel k hain
His wealth is rising again.....
@JV-oi6ch
Жыл бұрын
His scam has been uncovered now. Hence people will be cautious of him. This in turn will affect his business.
@jarjarbinks3193
Жыл бұрын
@@JV-oi6ch His over-leveraged high debt-fuelled growth was ALREADY WELL KNOWN in India! That is the reason why Indian mutual funds never took upon Adani's stock. It is mostly foreign companies who panicked and started dumping their holdings in Adani. His companies still reported good earnings, which is why his stocks have started rising again. Adani has som really good HARD ASSETS in the infrastructure sector that are important and valuable in a growing country like India.
@breezeanonymous6034
Жыл бұрын
Take 10 people out, 80% of India is poor. The country is an open sewage because the state has never really invested in infrastructure from its creation in 1947. India's value to the world is to produce cheap slave labor to 5he world and brainwash people to be proud of that.
@jarjarbinks3193
Жыл бұрын
@@breezeanonymous6034 "Take 10 people out, 80% of India is poor..... India's value to the world is to produce cheap slave labor to 5he world and brainwash people to be proud of that." You are confusing CCP wonderland with India, dim wit! Wealth inequality is WORSE in CCP wonderland. It is a country with firewalled internet that doesn't allow most foreign media and all its media are party-owned and censored. Talk about proper brainwashing. Labor there hardly any right to there as well. That is why it is the land of CHEAP goods produced in their sweatshops and Gulags. In CCP wonderland, several companies NOT only lost market cap but also DEFAULTED on their payments. Most of the companies there are just like their building, made from Tofu.
l am super excited my financial life has totally changed ever since I ventured into crypto market. Ive been earning over $12,000 every single week. Lol 😊
@mjzone9633
Жыл бұрын
Wow, that's awesome! I invested 5k in Robin hood about a year ago and it steadily went down, now my portfolio is down $800p. I don't know what to do and i am in between jobs
@roseannpugales725
Жыл бұрын
@@mjzone9633 As a newbie, investing in crypto will be the best for you, I know of a portfolio/ investment manager, Mrs Catalina trading services, an expert in trading and investments as you I know stress in trade, She manages my trade.
@roseannpugales725
Жыл бұрын
@Rahim hossain Her availability is assured
@roseannpugales725
Жыл бұрын
WhatsApp>>>Messenger👇
@sunrikhasangma1778
Жыл бұрын
Her analysis are so amazing. My first investment with her gave me a profit of over 25,800 dollars as beginner
This guy got a look of a call center indian scammer.
Why PM Protect Aadani family
2 paise ka aadmi h adani aur ambani
Gautam Das Modi
Evil Adani and its alike must be taken down!! everyone owns index fund r losing Hard-earned retirement money on Adani fraud… finical crimes hurt everyone wherever u r, directly and indirectly. Evil
@KanishQQuotes
Жыл бұрын
Ok comrade
Gautam Adani
These small Eligation can't effect that big company. They are still in business... Shell companies are every where, benefits to his family and all Share price is 15℅ up today😂
@maskyb3509
Жыл бұрын
The death is inevitable. Without retail investors confidence it will eventually crash. Sure it's ranking now cos institutional investors have locked positions, they can't sell. Point here is who will be the first to dump. Probably SBI or LIC. 😂
@Danheim641
Жыл бұрын
Eligation × Allegation ☑ G0bar bhakts will never learn.
@sumitrauthan4397
Жыл бұрын
@@Danheim641 mind your language. You have been reported
@kaustubhraizada
Жыл бұрын
@@sumitrauthan4397 lundbhakti dikhao ole ole ole 🤣
@Danheim641
Жыл бұрын
@@sumitrauthan4397 nothing happened g0bar bhakt.
European can, t see indian success.
Guys, India won't fall. You are all welcome to try though.
@M3ganwillslay
Жыл бұрын
Gay sree ram potel 🤣😂
@terapyo15
Жыл бұрын
India isnt adani. Weve got ambani and tata
@lol8q
Жыл бұрын
Gujrat will fall
@usernamechanged7661
Жыл бұрын
No wonder 23 of the 24 scammer of the country is from 🤣
@Dcb04
Жыл бұрын
Indian Government & Regulatory are Worst Corrupted ...
never bet against India and its growth story - Anand Mahindra on Adani row !! Hindenburg is a small company of 5 employees but it got this temp success due to opposition and its proxies who desperately want India to fail so that they can come to power and continue their scams like how east India company succeeded due to few Indian people !! Adani is our pride and will be integral part of india's growth story.
@MrP270
Жыл бұрын
Dhakkan he didn't say about Adani, he said about Indian stocks instability reported by foreign media. I think u have to have an open mind and prospect of media speculation about investment in India due to transparency.. Anyway your statements show you care more about Adani than Indians whose money has been invested.
@Hero138abcd
Жыл бұрын
Adani tera pride hai to laga de usmei Paisa
@breezeanonymous6034
Жыл бұрын
Take 10 people out, 80% of India is poor. The country is an open sewage because the state has never really invested in infrastructure from its creation in 1947. India's value to the world is to produce cheap slave labor to 5he world and brainwash people to be proud of that.
@maskyb3509
Жыл бұрын
This is not a bet against India. This is a corporate fraud.
@dontworrybehappy4210
Жыл бұрын
Money invested by adani is not his ancestors money it's people money of India who work hard day and night and save money in SBI and getting life insurance in LIC who gave rights to LIC and SBI to invest people money in fraudulent companies of Adani
Adani stock are back on track and you shall see another 200% rally in next 2 -3 years on your face !! We know you people don't like India & indians growing but learn to make peace with the fact !!
@anuragchakraborty8766
Жыл бұрын
You seem like a Gobar Bhakt
@jarjarbinks3193
Жыл бұрын
@@anuragchakraborty8766 "You seem like a Gobar Bhakt" So what? They are any day better than commie dim wits who turned West Bengal into Waste Bengal.
@laffangokasardar3751
Жыл бұрын
@@anuragchakraborty8766 wah la.d chamcho
@anadianBaconator
Жыл бұрын
I hope you are buying and holding lots of Adani stock. If you are so confident that there will 200% growth, you should invest your entire life savings
@maskyb3509
Жыл бұрын
Cos it's manipulated.
*Western propaganda*
@mainaccmain6490
Жыл бұрын
Andhbhakt ke gaand jalli🤣🤣😂
@breezeanonymous6034
Жыл бұрын
Take 10 people out, 80% of India is poor. The country is an open sewage because the state has never really invested in infrastructure from its creation in 1947. India's value to the world is to produce cheap slave labor to 5he world and brainwash people to be proud of that.
@maskyb3509
Жыл бұрын
Now I'm confident that Ur a paid shiller 😂. 2 RS have been credited to Ur acc by godi media 😂
*Adani will Comeback much stronger* 💪🇮🇳💪🇮🇳
@Dcb04
Жыл бұрын
Andhabhakat spotted 😂😂😂Mar gaya Tera adani duniya ka sabse bada loss leke 😂😂✌🏻Good Job Hindenberg ✌🏻✌🏻✌🏻✌🏻✌🏻✌🏻
@breezeanonymous6034
Жыл бұрын
Take 10 people out, 80% of India is poor. The country is an open sewage because the state has never really invested in infrastructure from its creation in 1947. India's value to the world is to produce cheap slave labor to 5he world and brainwash people to be proud of that.
@millenniummoviescenes6807
Жыл бұрын
Abe hamare paise scam karke comeback karega Madarchod Adani
@benaffleckisanokayactor
Жыл бұрын
Bot farm accounts, fellas don’t bother replying
@maskyb3509
Жыл бұрын
Adani is done so is lic and SBI 😂