Gautam Adani makes his first public appearance since the Hindenburg report, and remains silent on allegations of fraud

During a ceremony at the Port of Haifa in Israel – his first public event since the damning report was released on January 24 – the businessman made no mention of allegations of market manipulation and accounting fraud, which have destroyed a market worth about $70 billion from the shares of Adani Group companies.

Adani looked relaxed and smiling and instead focused on his expansion plans into Israel, where a joint venture of Adani Ports & Special Economic Zone Ltd. won a bid to buy the port for about $1.2 billion last year. His appearance came just hours after his flagship company successfully raised $2.5 billion from India’s largest consecutive stock sale.

“Today is the result of a lot of hard work done over six years,” said Adani, who appeared alongside Israeli Prime Minister Benjamin Netanyahu to sign a historic port book in front of media and officials. Haifa Port “has a significant amount of real estate. And I promise you that in the years to come we will change the skyline that we see around us.”

Netanyahu, meanwhile, called it “a joyful day for India, Israel and the Port of Haifa” and said the Indian businessman plans to increase investments in Israel “greatly”.

As well as being welcomed in Israel, Adani was supported by institutions and existing shareholders including Abu Dhabi’s International Holding Co., which ensured the closely watched stock sale was covered.

Adani, who has denied the short seller’s allegations and threatened legal action against Hindenburg, ended his short speech by quoting the famous Israeli poet Yehuda Amichai, who said:

“A man has no time in his life to have time for everything. He does not have enough seasons to have a season for every purpose.”