Stock to watch: Adani Green shares in focus on report of co’s plan to raise up to $1 billion by issue of dollar-denominated bonds
Shares of Adani Green Energy are likely to remain in focus on Wednesday after a media report said that its four subsidiaries plan to raise up to $1 billion by issuing US dollar-denominated bonds.
The companies will issue bonds with a maturity of 20 years in one or more tranches starting this month, a Reuters report said citing two merchant bankers involved in the deal.
“The companies may tap the market before the end of this month, once it judges the pulse of investors in upcoming roadshows,” one of the bankers said.
Adani Green Energy did not immediately respond for comment, the Reuters report said.
The Adani Group returned to the dollar bond market earlier in 2024, about a year after it was accused by short-seller Hindenburg Research in…
