Adani Group to do fixed-income road shows in US, London, Dubai

3 Mar 2023 , 02:58 AM

Adani Group to conduct fixed-income road shows in US, London, Dubai

Reports state that India’s Adani Group will hold fixed-income roadshows this month in London, Dubai, and several cities in the United States, as the conglomerate tries to regain confidence drained by a short-seller report in the United States.

According to the document, Adani group management, including Group Chief Financial Officer Jugeshinder Singh, will attend the roadshows, which will take place between March 7 and March 15.

Adani Group shares rose today after its promoter entity sold minority stakes in four of its listed companies to GQG Partners of the United States for Rs15,446 crore, as part of its liquidity strategy.

Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Adani Transmission Ltd, and Adani Green Energy Ltd shares were sold by the conglomerate. Adani Enterprises shares rose 13% today, Adani Wilmar 5%, and Adani Ports gained 8%.

Hindenburg’s assessment of the conglomerate’s rapid ascent as the ‘biggest corporate scam in history’ had devastating consequences, causing its market worth to dwindle by nearly two-thirds and leading to losses that soared to a staggering $153 billion at a certain juncture.

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