Adani Group Chairperson Gautam Adani. File photo
| Photo Credit: PTI
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani’s conglomerate, on Thursday scrapped a USD 600 million bond issue after its promoter was charged in an alleged bribery case in the US.
Hours before the U.S. prosecutors charged Gautam Adani and associates with participating in a scheme to pay over USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the U.S.-investment-grade market.
The issue was over-subscribed three times. But following the allegations, the issue was scrapped.
“The United States Department of Justice and the United States Securities and Exchange Commission have issued a criminal indictment and brought a civil complaint, respectively,…
