India's Adani Group says evaluating action against Hindenburg Research - Reuters

BENGALURU, Jan 26 (Reuters) - Adani Group said on Thursday it is evaluating "remedial and punitive action" under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens.

Shares in seven listed group companies of Adani lost $10.73 billion in market capitalisation in India on Wednesday after Hindenburg released the report, which also said it held short positions in the conglomerate through its U.S.-traded bonds and non-Indian-traded derivative instruments.

"We are evaluating the relevant provisions under U.S. and Indian laws for remedial and punitive action against Hindenburg Research," the statement said.

It also said key listed Adani companies had "substantial debt" which has put the entire group on a "precarious financial footing".

The anchor portion of the issue saw participation from Maybank Securities and Abu Dhabi Investment Authority among others on Wednesday.

Reporting by Anuran Sadhu in Bengaluru and Aditya Kalra in New Delhi; Editing by Muralikumar Anantharaman and Kim Coghill