Hindenburg Research published reports against the Indian conglomerate in 2023, accusing the Adani Group of using offshore tax havens improperly.

In a social media post on 'X', formerly Twitter, Hindenburg Research Founder Nate Anderson said that he had made the decision to disband Hindenburg Research

Investors of the Adani companies had an increase in their stocks on 16th January 2025, after the announcement that Hindenburg Research would cease to operate. N

Adani Group stocks surged today as Hindenburg Research, the short-selling firm infamous for its critical reports, announced its immediate closure. Hindenburg’s founder, Nate Anderson, cited the completion of their “pipeline of ideas” as the reason for the firm’s shutdown.

Hindenburg Research's founder Nathan Anderson announced he will disband the firm due to the intense nature of the work.