Gautam Adani’s Abu Dhabi supporter says business decisions are based on facts

Based in Abu Dhabi international holding companyhas invested nearly $2 billion in billionaire-owned companies Gautam Adanisaid its business decisions were based on facts after scathing coverage of the Indian tycoon’s business empire by US short-sellers Hindenburg Study.

“Our commercial decisions are based solely on the analysis of objective facts,” IHC spokesman Ahmad Ibrahim said in a statement to Bloomberg. This is “to use business intelligence and our analytical tools to help us maximize the interests of our shareholders under corporate governance regulations.”

Adani’s corporate empire evaporated in value following a Jan. 24 Hindenburg report detailing widespread allegations of corporate misconduct following a two-year investigation into Adani’s firm. over $50 billion. Adani said it was exploring legal action following what it called “maliciously mischievous, unresearched” reports of short sellers.

“As a policy, IHC does not comment on the business activities of other organisations,” said IHC’s Ibrahim.

adani enterprise co., ltd.the group’s flagship company, raised 77 billion rupees ($944 million) in April through a preference share issue to IHC, while Adani Green Energy Limited. and Adani Transmission Co., Ltd.. Received Rs 3,850 crore.

IHC is among Middle Eastern investors bidding for $2.5 billion in Adani shares, Bloomberg reported earlier this week. The IHC, led by Sheikh Tahnoon Bin Zayed Al Nahyan, the UAE’s national security adviser and brother of the president, plans to buy the largest portion, around $200 million.