KMIL and KIOF have clarified that Hindenburg has never been a client or investor with them. The spokesperson for KMIL stated that the fund was not aware of any partnership with Hindenburg. Additionally, KMIL has received confirmation from the fund’s investor that investments were made independently. KIOF, a Sebi-registered foreign portfolio investor based in Mauritius, was utilized by Kingdon Capital to establish short positions in Adani Enterprises.
The fund, established in 2013, was created to facilitate foreign investments in India. It adheres to KYC procedures and complies with all relevant laws. The spokesperson emphasized that they cooperate with regulators and will continue to do so.