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Adani to hold fixed-income roadshow in Asia next week

February 25, 2023 00:00:00

NEW YORK, Feb 24 (Reuters): India's Adani Group will hold a fixed-income roadshow next week in Asia, according to a bank document seen by Reuters, as the beleaguered conglomerate tries to shore up investor confidence in the aftermath of a US short-seller report.

Adani group executives, including group Chief Financial Officer Jugeshinder Singh, will attend the roadshows in Singapore on Feb. 27, and Hong Kong on Feb. 28 and March 1, the document showed.

Seven listed companies of the group led by billionaire Gautam Adani have lost over $140 billion in market value since a Jan. 24 report by Hindenburg Research alleged the group improperly used offshore tax havens and manipulated stock, and flagged concerns over its high debt levels.

Adani has rejected the allegations and denied wrongdoing.

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