Adani raises Rs 1,250 cr through first bond sale since Hindenburg report
Billionaire Gautam Adani's flagship firm has raised Rs 1,250 crore through a local-currency bond sale, the first since US short seller's scathing report that sparked a rout in the group's securities.
In a stock exchange filing, Adani Enterprises Ltd said it has raised Rs 1,250 crore "by allotment of 1,25,000 secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs) of the face value of Rs 1 lakh each on private placement basis".
While the firm did not disclose the interest rate, data from the National Securities Depository Ltd showed the three-year bond carried an annual coupon of 10 per cent.
This is the first Adani group tapped the local corporate bond market since Hindenburg Research came out with its report in January.
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