Pledges on the secret shareholdings stated in Part 1 of the Hindenburg report may represent further concealed leverage inside the Adani empire, giving rise to the dispute around Adani shares overleveraged.

1. NO POSSIBILITY
OF HIDDEN
LEVERAGE SAYS
GAUTAM
ADANI

2. 10 publicly traded firms make up the diversified Adani Group in
India. It has produced a portfolio of world-class utilities and
transport infrastructure with a presence throughout all of India.
Gujarat serves as the home base for the Adani Group. The Group
has established itself as the industry leader in its energy utility
and transport logistics portfolio industries throughout the years,
concentrating on large-scale infrastructure development in India
with O&M procedures that are benchmarked to international
standards.It is the only Infrastructure Investment Grade issuer in
India, with four IG-rated enterprises. Adani’s fundamental
concept of “Nation Building,” which is motivated by “Growth with
Goodness,” an ideology for sustainable growth, is responsible for
both its success and its position as a leader. Through the
realignment of its companies with a focus on climate protection
and an expansion of its community engagement through its CSR
programme, Adani is dedicated to increasing its ESG impact.

3. NO CHANCE OF HIDDEN LEVERAGE,
ACCORDING TO GAUTAM ADANI
Pledges on the secret shareholdings stated in Part 1 of the
Hindenburg report may represent further concealed
leverage inside the Adani empire, giving rise to the dispute
around Adani shares overleveraged. Note that any
encumbrance creation must go through the relevant
shareholder’s depository participant. The depository
participant notifies the depository (National Securities
Depository Limited / Central Depository Services Limited) of
this as part of the required reporting procedure. The
relevant data is also automatically entered into the stock
exchange database.

4. ADANI GROUP SAYS IT MADE ALL
THE NECESSARY DISCLOSURES
In October 2020, SEBI started investigating foreign investments
into Adani’s infrastructure, power, and port empire. The crux of
the issue is whether Adani engaged in business and manipulated
the value of his shares by using foreign-registered entities without
appropriately declaring his affiliations. In the instance of the
Adani shares overleveraged, Adani has consistently denied any
misconduct and claimed to have made all necessary
disclosures.On 28th February 2023, trade in the main Adani
Enterprises Ltd. stock saw gains of almost 8%, while Adani Green
Energy saw gains of 3.75%. In response to claims made by US-
based short-seller Hindenburg Research, which caused the stocks
of Adani companies to plummet in recent trading days, the Adani
Group rejected worries that its businesses were overleveraged.

5. THANK
YOU