AdaniConneX Private Ltd seeks loan of $200 million

An Adani group joint venture is reportedly in discussions with banks for an offshore loan as the troubled conglomerate looks to sew up its first overseas borrowing since short-seller Hindenburg accused the group of fraud more than two months ago.

According to a Bloomberg report, data centre provider AdaniConneX Private Ltd, a joint venture with EdgeConneX, is negotiating with around six banks to raise close to $200 million.

AdaniConneX is likely to take a five-year loan and will use the funds for capex purposes, the report said, adding it expects the deal to be signed in the next few weeks.