Hindenburg Research, the US-based short seller, hinted at another major disclosure related to India on Saturday. On Saturday, the firm posted on X stating, "Something big soon India." This comes after their explosive report last January, which scrutinised the Adani Group just before a planned share sale by Adani Enterprises.

The release of Hindenburg's report led to a sharp decline in Adani Enterprises Ltd's (AEL) stock price, which plummeted by 59% within a month. The January 2023 report had a profound impact, wiping out $86 billion from the market value of Adani Group stocks and sparking a substantial sell-off of its overseas bonds.

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Hindenburg accused the conglomerate of engaging in what it termed "the largest con in corporate history," leading to a steep decline in the value of Adani's listed companies.

Mewanwhile, the Securities and Exchange Board of India (SEBI) recently unveiled new details in the ongoing Adani-Hindenburg saga, particularly concerning Hindenburg's ties with New York hedge fund manager Mark Kingdon.

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According to SEBI, Hindenburg provided Kingdon with an advance copy of its report on Adani nearly two months before its public release, enabling Kingdon to profit from strategic trades. In a comprehensive 46-page show cause notice, SEBI outlined a "Research Agreement" between Hindenburg and Kingdon Capital Management, established in May 2021.

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