Adani Bond Rebound Helps Erase Short Seller Hit: Report
NDTV
The jump came after the Adani Group, which strenuously denies the allegations, raised $1.4 billion for a renewables project and published an initial blueprint for refinancing a solar-energy unit's $750 million dollar bond that matures in September.
A rally over the last week was powerful enough to erase some losses on a series of dollar bonds tied to the conglomerate of billionaire Gautam Adani, debt that had dropped after a short seller accused firms owned by Adani Group of fraud.
The jump came after the group, which strenuously denies the allegations, raised $1.4 billion for a renewables project and published an initial blueprint for refinancing a solar-energy unit's $750 million dollar bond that matures in September.
That was enough to also add a whopping $37.5 billion in market value to the group's listed companies, while notes of the corporation's electricity and power transmission businesses are now within striking distance of their price level before January's report by Hindenburg Research.
