India's Adani Enterprises eyes first-ever public debt issue in coming weeks, sources say
MUMBAI - India's Adani Enterprises, the flagship firm of Adani Group, plans to launch its first-ever public issue of bonds in the coming weeks to raise up to 6 billion rupees , two sources aware of the development said on Tuesday.
Adani Enterprises had decided not to proceed with a debut retail bond offering of up to 10 billion rupees last year after U.S.-based short-seller Hindenburg Research accused the group of improper use of offshore tax havens and stock manipulation. Last week, the company informed the exchanges that it had filed a draft prospectus with the market regulator, and the public issue will have a base size and a greenshoe option of 3 billion rupees each.Trust Investment Advisors, AK Capital Services and Nuvama Wealth Management are the lead arrangers for the issue, the sources said.Since the Hindenburg report in January 2023, Adani Group companies have raised more than $670 million through listed rupee bonds and one dollar bond.
The sale of existing shares will be Adani Group's first fundraise from equity markets after a $2.5 billion share sale was scrapped in February 2023.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CNBC's Inside India newsletter: How will India spend its billions?There are high expectations for a “populist” budget since the recent general election results delivered a slimmer than expected win for Modi.
Read more »
AI Adoption Is Driving Real Top - And Bottom-Line Impact For EnterprisesForrester is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth.
Read more »
How Enterprises Can Safely Use Unstructured Data With LLMsRehan Jalil is CEO of cybersecurity and data protection infrastructure firm SECURITI and ex-head of Symantec’s cloud security division. Read Rehan Jalil's full executive profile here.
Read more »
Data And AI Adoption: The Strategic Imperative For Modern EnterprisesMohit Gupta, the CEO of Damco Solutions, is a visionary business leader with over 30+ years of industry experience. Read Mohit Gupta's full executive profile here.
Read more »
The short seller that took on Gautam Adani made surprisingly little moneyWhen Hindenburg Research published a report into Gautam Adani’s sprawling business empire in January 2023, accusing Asia’s then richest man of fraud going back decades, the impact was immediate and explosive: about $100 billion was wiped off the value of his companies.
Read more »
Hindenburg refutes allegations from Indian regulator on Adani short betHindenburg refutes allegations from Indian regulator on Adani short bet
Read more »