Jan 15 (Reuters) -

Hindenburg Research's founder has decided to disband the

short-selling firm whose reports erased tens of billions from

the market values of companies including India's Adani Group and

Icahn Enterprises ( IEP ).

Nate Anderson, who started Hindenburg in 2017, cited the

toll of the "rather intense, and at times, all-encompassing"

nature of the work as the reason for his decision, in a note

published on Wednesday.

"The plan has been to wind up after we finished the

pipeline of ideas we were working on," he said. "That day is

today."

Hindenburg is best known for its bet against Indian

conglomerate Adani Group in 2023 that led to more than $100

billion in value wiped off the group's shares.

It has also gone after electric truck maker Nikola Corp ( NKLA )

in 2020, Icahn Enterprises LP ( IEP ) in 2023 and Jack

Dorsey-led Block Inc.

"So over the next 6 months or so I plan to work on a series

of materials and videos to open-source every aspect of our model

and how we conduct our investigations," Anderson said.