Markets
Adani’s Go-To Bankers at Barclays Turn Cautious After Hindenburg
- Barclays leads banks for Adani bond deals; India drives growth
- Adani says it has ‘strong’ relationships with core banks
The Adani Group headquarters in Ahmedabad, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
For more than a decade, Barclays Plc has been the go-to bank for Indian billionaire Gautam Adani, leveraging a relationship forged when only a few global firms were working with the emerging conglomerate.
An explosive report by short-seller Hindenburg Research in January has changed all that, prompting the bank to pare its exposure, leaving a hole in an Indian business that’s been a key driver of the firm’s Asian growth for years.