HomeBUSINESSAdani Group aims to raise about $800 million for new green energy...

Adani Group aims to raise about $800 million for new green energy projects

Adani Group aims to raise about $800 million for new green energy projects, people familiar with the matter said, in what could be the conglomerate’s biggest loan since it was blocked by a short seller in January.

The group, led by billionaire Gautam Adani, is in talks with global banks including Sumitomo Mitsui Banking Corp., DBS Bank Ltd., Mitsubishi UFJ Financial Group and Standard Chartered Plc, according to the people, who asked not to be identified because the discussions are private.

image search 1682578629827

The size of the financing could range from about $700 million to about $800 million, the people said. However, the plan and size are not final and may vary.

Any funding for the project could show banks’ growing comfort in spreading money after ports-to-power conglomerate Adani was rocked by allegations of corporate fraud by Hindenburg Research. Despite the group denying the allegations, it lost more than $100 billion in market value. Adani has since had to revise its ambitions and also prepay some loans to appease investors.

Read Now:Delhi registered 1,040 new cases of COVID-19 with a positivity rate of 21.16 percent

[responsivevoice_button buttontext="Listen This Post" voice="Hindi Female"]


Please enter your comment!
Please enter your name here


Trending News

Biological Universality: Life Necessitates Instability, Proposes USC Biologist

Life appears to require at least some instability, a concept that should be considered a biological universality, suggests John...

Severe Cyclonic Storm Remal Intensifies, Landfall Expected in Bangladesh and West Bengal

The India Meteorological Department (IMD) has issued a warning as a low-pressure system in the Bay of Bengal has...

NASA to Provide Advanced Training for Indian Astronauts, US Envoy Announces

Washington, D.C. – NASA will soon begin providing advanced training to Indian astronauts as part of a collaborative effort...

Searing Heat Grips India Amid National Elections: Climate Change Escalates Risk

India is experiencing searing heat earlier than usual for the third consecutive summer, with extensive regions suffering from humid...