Mumbai: Azure Power Global has proposed to buy back a portion of its offshore bonds at par to signal its willingness to repay debt, said people with knowledge of the matter.
The move to buy back shares is seen as an attempt by the company to boost investors’ confidence, which suffered a setback after its shares were delisted in July by the New York Stock Exchange due to its failure to disclose FY22 annual audited results within the mandated deadline. It eventually published its results on October 12, 2023.