Let’s start from the beginning to understand this. In September 2022, investment firm Endeavor Trade and Investment Ltd on behalf of Adani Group bought stakes in Ambuja Cements and ACC.
After this, Ambuja and ACC were said to be owned by the Adani Group. The Adani Group had also informed its shareholders that it had acquired Ambuja and ACC.
On one side, on January 24, the US-based Hindenburg Company also published a report on the Adani Group. It has accused the Adani Group of being involved in irregularities.
Hindenburg also alleged that Vinod Adhani, Gautam Adani’s elder brother, had a major role in Adani Group-related transactions and investments. Subsequently, in Adani’s response to Hindenburg’s allegations, it stated that Vinod Adani does not hold any position in Adani companies and has nothing to do with Adani’s operations.
In this case, Vinod Adani’s Endeavor Trade and Investment Ltd has bought Ambuja Cements and ACC on behalf of the Adani Group. According to this, Vinod Adhani is currently the owner of Ambuja Cements and ACC.
In response to CNBC-TV18 media, Adani Group has stated that Vinod Adani is a member of Adani Group. As a result, attention has again turned to the Hindenburg allegations.