Adani Group is looking to raise roughly $800 million for new green energy projects. This could be the conglomerate's largest borrowing since it was hammered by a short seller in January. The persons, who wished to remain anonymous because the conversations are private, said that
the Gautam Adani-led firm, which is led by the billionaire, is in talks with several major banks, including Sumitomo Mitsui Banking Corp., DBS Bank Ltd., Mitsubishi UFJ Financial firm, and Standard Chartered Plc. The finance might be worth between $700 million and $800 million. But the layout and scale aren't set in stone and could change. Adani Group's spokesman declined to comment. DBS, Mitsubishi, and Standard Chartered declined to comment, while Sumitomo did not return calls, texts, or emails.
Any project financing could demonstrate banks' growing tolerance with lending money in the wake of Hindenburg Research's claims of corporate fraud against Adani's ports-to-power business. Despite the group's denial of these accusations, its market worth decreased by more than $100 billion. Since then, Adani has had to change his goals and prepay some loans to appease investors.
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