Hindenburg report alleging fraud malicious, timed to damage FPO: Adani

Adani Group responded to the Hindenburg Research report that alleged that the conglomerate engaged in "brazen" stock manipulation and accounting fraud. Adani Group called the report a "malicious combination of selective misinformation and stale, baseless and discredited allegations". It added that the report's timing is aimed at damaging the company's upcoming FPO (follow-up public offering).