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Adani Debacle in End January 2023

It was predicted on record that from end January 2023 to February 2023, Gautam Adani would face a huge problem financially. And exactly on 24th January 2023 Hindenburg had accused the ports-to- renewable energy conglomerate of accounting fraud and stock price manipulation in its report. It forced flagship Adani Enterprises to pull a ₹20,000 crore follow-on public offer (FPO) days later, besides wiping out $120 billion of shareholder wealth by late February.

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