Adani Group Pursues First Loan Of $220 Million Post Hindenburg Report

Adani group's joint venture is currently in discussion with nearly six banks for a loan of $220 million, as reported by Bloomberg News.

The loan would be its first since the release of Hindenburg's harmful report on it earlier this year.

AdaniConneX, a joint venture with EdgeConneX, is said to be planning to use funds for capital expenditure.

The loan has a five-year tenor under discussion and is expected to be signed in the coming weeks, according to the news report.

The Hindenburg report on 24 January caused Adani group of companies' shares to drop over $100 billion and compelled them to revise some of their ambitious expansion strategies.

Also Read: Why The Adani Endgame May Not Be The Disaster His Enemies Wish For