Adani Group Postpones Dollar Green Bond Offering Amid Investor Pushback

Billionaire Gautam Adani’s conglomerate, Adani Group, has postponed its planned re-entry into the dollar bond market with a new offering from its clean-energy sector. The group had been marketing a 20-year green bond by Adani Green Energy Ltd., intended to refinance foreign-currency loans and strengthen the company’s financial stability.

The postponement comes after investors pushed back on the pricing of the bond, which was set to yield 7%. Some investors demanded higher yields due to market volatility ahead of the U.S. elections on Nov. 5. Adani Group was unwilling to offer a higher yield, leading to the decision to delay the bond sale until after the U.S. vote or early January.

This development reflects ongoing investor concerns and governance issues that have persisted since a 2023 report by Hindenburg Research, which led to a significant drop — over $150 billion — in Adani Group stocks. The postponement indicates that the group may still need to offer a premium to access the dollar bond market.

Despite this setback, Adani Group plans to issue up to $1.5 billion in bonds by the end of February, primarily through its energy subsidiaries. This move illustrates the conglomerate’s ongoing efforts to access international capital markets and focus on growth opportunities.

For more information, check out the full article on Yahoo Finance.