Adani group considers up to $1.5 billion privately placed bond offerings: Report
The fresh report came amid rumours the group is in talks with Abu Dhabi’s International Holding Corp (IHC) to infuse capital into Adani Enterprises or other group entities.
- Feb 16, 2023,
- Updated Feb 16, 2023 1:10 PM IST
The Gautam Adani-led Adani group is looking to offer privately placed bonds for at least three group companies, Bloomberg reported on Thursday quoting sources. The group is already in talks with potential investors, the report said.
The conglomerate is mulling a total issuance of up to $1.5 billion, Bloomberg added.
The fresh report came amid rumours that the group is in talks with Abu Dhabi’s International Holding Corp (IHC) to infuse capital into Adani Enterprises or other group entities. It has also come in the wake of Adani Enterprises' withdrawal of its Rs 20,000 crore follow on public offer amid steep fall in the group shares.
If Adani group moves ahead with any such offering and is able to attract investors, it would be the first debt issuance for Adani since Hindenburg Research's scathing report that levelled allegations of stock manipulation, accounting frauds and other other serious wrongdoings on Adani group.
Ealier, Economic Times had reported that top group representatives have returned to Abu Dhabi for further discussions on IHC capital infusion. As per the ET report, the quantum of investments has not yet been finalised, but sources told ET the group was looking at a $1-$1.5 billion infusion of 'confidence capital.'
Recently, the ports-to-data centre conglomerate announced that it was withdrawing its highly-discussed FPO in the wake of huge market volatility. Adani Enterprises said due to the selling pressure that the group stocks were subjected to, it was not morally prudent to go ahead with public offer, even though the latter was fully subscribed a day prior.
Also read: MSCI postpones weightage reduction of Adani Total Gas, Adani Transmission to May. Here's why
Also read: IndiGo block deal: Co-promoter Rakesh Gangwal's wife likely sold 4% stake; stock slips 5%
The Gautam Adani-led Adani group is looking to offer privately placed bonds for at least three group companies, Bloomberg reported on Thursday quoting sources. The group is already in talks with potential investors, the report said.
The conglomerate is mulling a total issuance of up to $1.5 billion, Bloomberg added.
The fresh report came amid rumours that the group is in talks with Abu Dhabi’s International Holding Corp (IHC) to infuse capital into Adani Enterprises or other group entities. It has also come in the wake of Adani Enterprises' withdrawal of its Rs 20,000 crore follow on public offer amid steep fall in the group shares.
If Adani group moves ahead with any such offering and is able to attract investors, it would be the first debt issuance for Adani since Hindenburg Research's scathing report that levelled allegations of stock manipulation, accounting frauds and other other serious wrongdoings on Adani group.
Ealier, Economic Times had reported that top group representatives have returned to Abu Dhabi for further discussions on IHC capital infusion. As per the ET report, the quantum of investments has not yet been finalised, but sources told ET the group was looking at a $1-$1.5 billion infusion of 'confidence capital.'
Recently, the ports-to-data centre conglomerate announced that it was withdrawing its highly-discussed FPO in the wake of huge market volatility. Adani Enterprises said due to the selling pressure that the group stocks were subjected to, it was not morally prudent to go ahead with public offer, even though the latter was fully subscribed a day prior.
Also read: MSCI postpones weightage reduction of Adani Total Gas, Adani Transmission to May. Here's why
Also read: IndiGo block deal: Co-promoter Rakesh Gangwal's wife likely sold 4% stake; stock slips 5%