Adani Group may raise $800 million for financing green energy projects

28 Apr 2023 , 10:57 AM

Adani Group is aiming to raise $800 million for new green energy projects, as per various reports, which could be the conglomerate’s biggest borrowing since the Hindenburg Research Report in January.

The company is in discussion with global banks including Sumitomo Mitsui Banking Corp., DBS Bank Ltd., Mitsubishi UFJ Financial Group. and Standard Chartered Plc. 

The size of funding could be in range of $700 million to $800 million.

Earlier this year, the US-based short seller, Hindenburg Research accused Adani Group of pulling the largest con in corporate history and levelled allegations stock price manipulation and improper use of tax havens. However, Adani Group has denied the allegations in a 413 page response calling Hindenburg’s allegations nothing but a lie, one that is an attack on not just Adani but also India.