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Adani Enterprises Ltd. is the flagship company of Adani Group. The company was founded as Adani Exports in 1988 by Gautam Adani. In 2006, Adani Exports changed its name to Adani Enterprises. Adani Enterprises is involved in fields including coal mining, solar power manufacturing, aerospace, airports, defense, edible oils, foods, data centers, and integrated agricultural products. The company is the largest coal supplier in India.
In January 2023, founder Gautam Adani was accused by short-seller Hindenburg Research of “pulling the largest con in corporate history” due to claims of stock manipulation and accounting fraud by his conglomerate Adani Group. On February 1, 2023, Adani Enterprises canceled a recent fully subscribed share offering valued at $2.5 billion and returned the proceeds to its investors. Gautam Adani stated that the decision was made due to “current market volatility” and the group's significant stock price fluctuation as of late.
