Not Adani Group, Hindenburg Research's first report was on this Indian company

Hindenburg Research, the US-based short-seller now set to close, gained significant attention in the Indian media following its 2023 report on the Adani Group followed by SEBI chairperson Madhabi Puri Buch.

Interestingly, this wasn't Hindenburg's first time targeting an Indian company. Back in August 2017, shortly after its inception, the firm released its initial investigative reports on Eros International, a US-listed Indian film company, followed by a third report two years later.