Adani Flagship Shelves $122 Million Bond Plan After Market Rout
- Adani Enterprises had planned to sell first-ever public bond
- Company already pulled stock sale after Hindenburg report
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Adani Enterprises Ltd. has shelved a plan to raise as much as 10 billion rupees ($122 million) via its first-ever public sale of bonds following a market rout, according to people familiar with the matter.
The flagship firm of Indian billionaire Gautam Adani’s empire had planned the public note issuance for January, working with Edelweiss Financial Services Ltd., AK Capital, JM Financial, and Trust Capital, Bloomberg had reported in December. But activity has now stopped, according to the people, who asked not to be identified because the matter is private.