Adani Green Energy under-talks to raised $1 billion dollar bonds over key firms

The Adani Group has returned to the dollar bond market earlier in 2024, about a year later after it was charged by a short-seller Hindenburg Research in January 2023 for misuse of offshore tax havens and stock manipulation that zest a $150 billion rout in shares of the group’s companies.

The firms will provide bonds with a maturity of 20 years in one or more tranches which will begin from this month. This statement is given by one of the bankers while informing about the condition of unpopularity as they are not permitted to discuss with the media.

Companies have utilized the market much before the completion of this month once it decides the pulse of the investors in the upcoming roadshows.

Adani Green Energy did not immediately answer to the Reuters request for comment

The four subsidiaries of India’s Adani Green Energy has plans to uplift to $1 billion by permitting US dollar denominated bonds by involving two merchant dealers in a deal.

The group which frequently refused the accusations that has its firms retrieve much of the losses in shares and bonds since then.

In the month of March, Adani Green Energy raised $409 million through 18 year bonds after accepting bids of nearly $3 billion.

Adani Group is a fast growing and one of the leading an integrated business with diversity enhancing lives by creating sustainable value and empowering India. From creating the world class transport to utility infrastructure portfolio which makes India standout in global platform.