The embattled Adani Group plans to trim capital spending plans after it had to scrap fundraising efforts in the wake of short-seller Hindenburg Research’s scathing report into the conglomerate, Mint reported, citing people with knowledge of the matter.
The Indian group could moderate its capex plans in some businesses and target growth over 16-18 months, rather than 12 months previously, one of the people told Mint. It will also use alternative sources of funding, including internal cash, so-called promoter equity funding and private placements to invest in projects, according to the report.
