Adani Groups seeks capital infusion from Abu Dhabi’s IHC: Report

Even as stocks of the Adani Group are yet to recover from a rout that plunged its market valuation after US short-seller Hindenburg Research’s damaging report, the company has now reached out to Abu Dhabi’s International Holding Corp (IHC) for capital infusion into its flagship company Adani Enterprises, as per The Economic Times report.

The group is seeking a $1-$1.5 billion infusion of ‘confidence capital’, people familiar with the talks told the publication and top-level representatives returned to Abu Dhabi on Monday for further discussions. Several senior representatives led by chairman Gautam Adani and Group CFO Jugeshinder Singh have been in the Middle East last week. However, the talks are still in preliminary stages.