Adani Group’s debt pile rose almost 21% over the past year and the proportion held by global banks rose to nearly a third, Bloomberg News reported on Tuesday.
Around 29% of the Indian conglomerate’s borrowings were with global international banks at the end of March, the report added, citing people familiar with the company’s inner workings and presentations to investors.
The Adani Group has been making moves to repay share pledges, bonds, and loans and has held roadshows with large investors and creditors to rebuild investor confidence and allay concerns about its debt after short-seller Hindenburg Research’s critical report sparked a stock rout.
