Embattled Adani Group has approximately $2 billion in foreign-currency bonds which are set for repayment in 2024. There are no bond maturities in 2023, however, three Adani companies’ bond issuance is due the next year. Currently, Gautam Adani’s ports-to-energy empire is under the market radar for a host of allegations after the Hindenburg report.
Embattled Adani Group has approximately $2 billion in foreign-currency bonds which are set for repayment in 2024. There are no bond maturities in 2023, however, three Adani companies’ bond issuance is due the next year. Currently, Gautam Adani’s ports-to-energy empire is under the market radar for a host of allegations after the Hindenburg report.
According to a PTI report, which cited the presentation the conglomerate made to investors, there are no maturities in 2023 but three issuances – $ 650 million by Adani Ports and two of renewable energy unit Adani Green Energy Ltd ($ 750 million and $ 500 million – are due for payment in 2024.
According to a PTI report, which cited the presentation the conglomerate made to investors, there are no maturities in 2023 but three issuances – $ 650 million by Adani Ports and two of renewable energy unit Adani Green Energy Ltd ($ 750 million and $ 500 million – are due for payment in 2024.
Between July 2015 to 2022, the Group borrowed over $10 billion in foreign currency bonds. Of the total, around $1.15 billion of bonds matured in 2020 and 2022.
Between July 2015 to 2022, the Group borrowed over $10 billion in foreign currency bonds. Of the total, around $1.15 billion of bonds matured in 2020 and 2022.
As per the presentation which was released by Adani Enterprises during its Q3FY23 result announcement on February 14, Adani Ports is the only infrastructure company to issue a 20 and 10-year dual-tranche bond worth $750 million. While Adani Green issued green bonds worth $750 million, establishing India’s leading credit in the renewable sector.
As per the presentation which was released by Adani Enterprises during its Q3FY23 result announcement on February 14, Adani Ports is the only infrastructure company to issue a 20 and 10-year dual-tranche bond worth $750 million. While Adani Green issued green bonds worth $750 million, establishing India’s leading credit in the renewable sector.
Also, it needs to be noted that there are no foreign currency bond maturities in 2025, but around $ 1 billion of repayments are scheduled to be due in 2026.
Also, it needs to be noted that there are no foreign currency bond maturities in 2025, but around $ 1 billion of repayments are scheduled to be due in 2026.
Last week, US-based investment boutique, GQG Partners purchased equity shares of four Adani companies for a whopping ₹15,446 crore in a series of secondary block deals. GQG bought ₹5,460 crore in Adani Enterprises, ₹5,282 crore in Adani Ports, ₹1,898 crore in Adani Total Gas, and ₹2,806 crore in Adani Green Energy. In percentage terms, GQG bought a 2-4% stake in these companies.
Last week, US-based investment boutique, GQG Partners purchased equity shares of four Adani companies for a whopping ₹15,446 crore in a series of secondary block deals. GQG bought ₹5,460 crore in Adani Enterprises, ₹5,282 crore in Adani Ports, ₹1,898 crore in Adani Total Gas, and ₹2,806 crore in Adani Green Energy. In percentage terms, GQG bought a 2-4% stake in these companies.
Adani Group is struggling after a US-based short seller Hindenburg released a report in late January, accusing the conglomerate of stock manipulation and other frauds. This wiped out more than ₹12 lakh crore of the market value of the Gautam Adani-backed group. All ten Adani stocks were in shambles hitting fresh lows, freezing at lower circuits, and erasing billions of wealth.
Adani Group is struggling after a US-based short seller Hindenburg released a report in late January, accusing the conglomerate of stock manipulation and other frauds. This wiped out more than ₹12 lakh crore of the market value of the Gautam Adani-backed group. All ten Adani stocks were in shambles hitting fresh lows, freezing at lower circuits, and erasing billions of wealth.
On January 24, Hindenburg in its report said, “we reveal the findings of our 2-year investigation, presenting evidence that the ₹17.8 trillion (U.S. $218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.”
On January 24, Hindenburg in its report said, “we reveal the findings of our 2-year investigation, presenting evidence that the ₹17.8 trillion (U.S. $218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.”
Currently, the Supreme Court has asked Sebi to investigate Adani Group to check whether there has been any stock manipulation or other allegations and to come up with measures to safeguard investors.
Currently, the Supreme Court has asked Sebi to investigate Adani Group to check whether there has been any stock manipulation or other allegations and to come up with measures to safeguard investors.
Further, the report said that as per the presentation, Adani Group’s gross debt jumped to ₹2.21 lakh crore in 2023 — nearly doubled from ₹1.11 lakh crore in 2019. After including cash, the net debt comes to around ₹1.89 lakh crore in 2023.
Further, the report said that as per the presentation, Adani Group’s gross debt jumped to ₹2.21 lakh crore in 2023 — nearly doubled from ₹1.11 lakh crore in 2019. After including cash, the net debt comes to around ₹1.89 lakh crore in 2023.
