Multinational conglomerate Adani Group has received financial assurances from three Japanese banks – Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking and Mizuho Financial Group, reported Financial Express citing sources.
Earlier, these three banks were not lenders to the group and as the group embarks on a series of expansion plans, their financial support will include loans for new projects and refinancing of high-cost debts, the report suggests. After a January report by Hindenburg Research which eroded the group’s market capitalisation, the assurances came as a result to the group’s investor roadshows held across Asia and Europe to win back trust.
