Dollar bonds of group companies had plunged after Hindenburg
Research, in a scathing report on Jan. 24, questioned the
conglomerate's debt levels and use of tax havens. Billionaire
chairman, Gautam Adani, called the report baseless and
maintained that its financials are strong.
However, India's market regulator is looking into
Hindenburg's allegations as well as the group's related party
dealings following a Supreme Court directive.
(Reporting by Dharamraj Dhutia;
Editing by Eileen Soreng)
MUMBAI, April 20 (Reuters) - The U.S. dollar-denominated
bonds issued by entities of India's Adani Group were trading
marginally higher on Thursday, after a group company said it
will consider a buyback of securities.
On Wednesday, Adani Ports and Special Economic Zone , part of the beleaguered Adani Group, said it will
consider its first and a partial buyback of certain of the
company's debt securities at a board meeting on April 22.
The company will consider the buyback of securities, which
will either be denominated in Indian rupees or the U.S. dollar,
in this financial year.
The dollar bonds of Adani Ports, Adani Transmission , Adani Green Energy and Adani Electricity
Mumbai were all trading somewhat higher.
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