After Hong Kong, Singapore, Adani Group To Hold Fixed-Income Roadshows In London, Dubai, US In March: Report

Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business

Adani Group tried to appease investors during a three-day roadshow this week in Singapore and Hong Kong.

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After this week's roadshows in Hong Kong and Singapore, Adani Group is expected to hold road shows in London, Dubai, and several cities in the United States in March. According to the news agency Reuters, the port-to-power conglomerate will hold fixed-income roadshows this month in London, Dubai, and several cities in the United States.

The report said that Adani Group is trying to muster up confidence among the investors, which has taken a beating after a U.S. short-seller report. According to the document seen by the news agency, Adani Group management, including Chief Financial Officer Jugeshinder Singh, will attend the road shows which will run between March 7 to March 15.

Adani Group tried to appease investors during a three-day roadshow this week in Singapore and Hong Kong. According to a Bloomberg report, group executives said the company has enough money to repay debt due over the next three years.

On Thursday, Adani Group sold shares in four of the conglomerate's listed companies to US equity investment boutique GQG Partners for Rs 15,446 crore. In a statement, the Adani Group said shares in Adani Ports and Special Econmomic Zone Ltd (APSEZ), Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL), and Adani Enterprises Ltd (AEL) were sold through secondary market block deals.

Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate. The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

The Supreme Court has formed a six-member expert committee on the Adani-Hindenburg row which will be headed by retired judge Justice AM Sapre. The court has also directed regulator Sebi to conduct a probe to ascertain if there were irregularities or manipulation of stock prices. The court has asked the regulator to conduct the probe and submit a status report in two months.