Adani Gets Relief from SEBI – But Story Not Over Yet

The Adani Group has received a major relief from SEBI in the long-running case that began after the 2023 Hindenburg Research report. What SEBI Has Cleared SEBI said it found no evidence of stock manipulation or wrongdoing through Adicorp and other entities, as alleged by Hindenburg. It also did not find violations in related-party transactions or fund diversion. This means two of the biggest charges against Adani have been dropped. What’s Still Under Investigation SEBI is still checking if Adani companies followed the rule on minimum public shareholding (at least 25% must be with the public). The role of some foreign portfolio investors (FPIs) and offshore entities linked to Adani is still being looked at. Some other smaller strands related to fund flows and disclosures are also open. Why It Matters This relief is a big boost for Adani and its investors because the toughest allegations are off the table. However, the group is not fully out of the woods yet. Pending investigations mean there’s still some regulatory risk. For markets, this news has removed a cloud of uncertainty, but investors will keep an eye on how SEBI closes the remaining probes. 👉 In short: Adani got a clean chit on the biggest charges, but a few probes are still alive.