After the Hindenburg report came, the prices of shares of Adani Group’s listed companies fell. Group bond yields have also seen a rise, affecting investor confidence and making it difficult for the group to raise new borrowings.
Adani Group Image Credit source: File Photo
Three months have passed since the Hindenburg Research report and the stock market, Adani Group and stock market investors have suffered heavy losses, there has been some recovery in between, but the compensation for the loss has not yet been completed. In such a situation, Gautam Adani, the owner of Adani Group, is going to play his master stroke. If this bet turns out to be correct, then the compensation for the losses incurred in the past will be completed in one stroke. In fact, Adani Group is talking about investment of one billion dollars with foreign banks for its green energy projects.
Experts say that Gautam Adani has gone out for fundraising for the first time after the report of Hindenburg Research. This fundraising is also necessary because for Adani to rise again, it is very important for the green energy project to be successful. That’s why some people are also considering it as Adani’s last bet. The group has started discussions with a group of foreign banks to syndicate the loan.
Adani Group in debt market again
After the Hindenburg report came, the prices of shares of Adani Group’s listed companies fell. Group bond yields have also seen a rise, affecting investor confidence and making it difficult for the group to raise new borrowings. The group now wants to overcome the after effects of the report and is planning to revisit the global debt market. No such official statement has come from Adani Group. People close to the Adani Group said that the group has identified about 25 foreign banks and financial institutions.
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increased courage because of this
Adani Group has said in a recent corporate filing that group companies Adani Port & SEZ and Adani Green Energy have foreign currency bonds worth about $ 2 billion that will mature next year. Renew Energy has recently done successful fundraising in dollar-dominating bonds. After which Indian companies have got the courage to enter the global debt market again after more than a year.
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have paid off the debt
Adani Group is also prepaying its loans to boost investor confidence. The group has so far repaid almost the entire outstanding loan taken by the promoters against shares. Since then, there has been a softening of the seal on the foreign bonds of the group. Earlier this week, Adani Ports and Special Economic Zone Ltd said it has initiated the process to buyback $130 million of its outstanding 3.375 per cent senior notes due 2024.