Adani Ports and Special Economic Zone (APSEZ), a subsidiary of the Adani Group, announced on Tuesday that it would pay USD 130 million of its debt early, after roughly USD 413 million worth of debt had been tendered for early payment.
In an effort to boost investors’ confidence after the conglomerate’s stock price plummeted early this year due to the Hindenburg report, Adani Ports floated a tender of USD 130 million of 3.375 per cent 2024 maturity dollar-denominated bonds in late April.
Seven of Adani’s publicly listed companies have lost approximately USD 114 billion in stock valuation since the Hindenburg Research’s January 24 report on the Adani Group regarding its improper use of offshore tax havens as well stock manipulation. The group released a response soon after denying all the allegations against it.
