A note from unit Adani Ports & Special Economic Zone Ltd. due in 2041 slid 2.4 cents, the most since August, to 79.1 cents. Another bond from subsidiary Adani Renewable Energy RJ Ltd. due 2039 fell 2.3 cents to 83 cents, the worst drop since February 2023. That pares gains in recent months that sent the securities to their highest levels since 2022, Bloomberg said.
It was earlier reported that the US is investigating whether an Adani entity was involved in bribing officials in India for favorable treatment on an energy project. The conduct of the billionaire Gautam Adani was also said to be under investigation in the US, according to reports.
The Ahmedabad-based apple-to-airports conglomerate has denied awareness of any such investigation.
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