Adani Group: To win the confidence of investors, Adani Group has said that many leading Japanese and European banks have reposed their trust in Adani Group. According to a Reuters report, despite the Hindenburg report, global banks like MUFG, SMBC, Mizuho, ​​Standard Chartered, Barclays, Deutsche Bank have retained their faith in the Adani group.
Many of these banks already have business relationships with the Adani group. After the short seller Hindenburg report came out, the Adani group had cited business relations with these banks and said that this is the biggest strength of the group. Actually Adani group is engaged in fund raising exercise across the world.
Adani Group has done roadshows in New York, Boston, Los Angeles, and San Francisco in America. Through the roadshow, the group wants to win the trust of global investors and assure them about the business of the group. In the month of February itself, reports came out that Adani Group is considering offering private placed bonds of three of its companies. Group officials have met investors in the US, including BlackRock, Blackstone and Pacific Investment Management (PIMCO). The Group is marketing the Private Placed Bonds of some of its companies. Adani group wants to raise one billion dollars through this route.
Work on the documentation of private placed bonds will start from April itself and the first phase will be launched by September 2023. In the first phase, the group is preparing to raise $ 450 million. The privately placed bonds will be for 10 to 20 years and the coupon rate is expected to be around 8 per cent.
On January 24, 2023, after the report of short seller Hindenburg Research came out, there was a decline in the stocks of Adani Group. But due to this report, raising funds for the company was affected. Due to which the group is pulling back from many projects. Adani Group’s market cap was reduced by $153 billion after the Hindenburg Report.
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