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Adani slipped from the list of Billionaires


Gautam Adani further slipped from the list of Billionaires due to the Hindenburg Research report. The fall in the stock market has also forced Adani Group's chief promoter Gautam Adani Kubera out of business. Adani's wealth is dwindling day by day due to the Hindenburg report. Adani, who was ranked 10th on the Forbes Realtime Billionaire 2023 list, slipped further down to the 15th position. According to the Forbes list, Adani's current net worth is 75.1 billion US dollars. Reliance Industries Chairman Mukesh Ambani is in the 9th position. Ambani's net worth is 83.7 billion US dollars.

Adani is ranked 10th in the Bloomberg Billionaires Index with 84.5 billion US dollars. French luxury fashion giant LMWH Bernard Arnault tops the list with a net worth of US$191 billion. Elon Musk, head of Tesla, is in second place, Jeff Bezos, head of Amazon, in third place, and Bill Gates, Head of Microsoft, in fourth place. Reliance Industries chief Mukesh Ambani is in the 13th position.

Adani Enterprises Limited (AEL) has finally closed its Rs 20,000 crore FPO with institutional investors while retail investors and employees stayed away. The issue was subscribed 1.12 times by the close of trading on the last day, Tuesday. Under this issue, a total of 4.55 crore shares were put up for sale by the company. Bids were received from investors for the purchase of 5.08 crore shares. AEL has put these shares up for sale at a price range of Rs 3,112-3,276 per share. AEL's board is meeting on Wednesday to finalize the issue price. In the wake of the Hindenburg report, by fully subscribing to this FPO issue, Adani Group is believed to have once again shown its strength in the market.

In the wake of the Hindenburg Research report, the subscription of this FPO did not exceed three percent in the first two days. Does this really solve the issue? Or? Doubts were expressed. However, on the last day of the issue, the FPO was slightly oversubscribed as institutional and strategic investors stepped in. International Holding Company (IHC), owned by the Abu Dhabi royal family, holds 16 percent of the total FPO. For this purpose, this company has spent 40 crore dollars (about Rs. 3,200 crores). The names of the institutional investors who invested in this issue on the last day, Tuesday, are yet to be revealed.

The big question now is who are these institutional investors who bought the Adani Enterprises FPO? The name of any corporate entity other than IHC, owned by the Abu Dhabi royal family, has not yet been revealed. But it is reported that the companies headed by the families of some industrialists who are close to Adani have also contributed.

Hindenburg Research (Hindenburg Research), which is harassing the Adani Group, has broken again. The Adani group has been accused of trying to divert attention from important issues and promoting nationalist views. The group attributes its rapid, impressive growth and the growth of its chairman's wealth to India's success.

Responding to Hindenburg's allegations, Adani Group on Sunday accused American short sellers of being the 'Madoffs of Manhattan' American fraudster and financier Bernard Lawrence Madoff is remembered as the biggest Ponzi scam in world history. Hindenburg Research said in its 413-page reply that it made the allegations for reasons it did not disclose. It accused Hindenburg of having a secret agenda to create a false market for financial gain. Adani Group CFO Jugeshinder Singh told a TV channel that Hindenburg's allegations were baseless and misleading.

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