Adani Green Energy Ltd. has cancelled plans on Thursday to raise $600 million in US dollar-denominated bonds. The bond had been priced but was pulled after US prosecutors charged Gautam Adani in an alleged $250 million bribery scheme.
“In light of these developments, our subsidiaries have presently decided not to proceed with the proposed USD denominated bond offerings,” the company said in a filing.
US prosecutors in New York indicted Adani Group Chairman Gautam Adani, his nephew Sagar Adani and other executives for allegedly offering $265 million in bribes to Indian government officials for securing “lucrative solar energy supply contracts” with state electricity distribution companies.
“In or about and between 2020 and 2024, Senior executives of an Indian renewable-energy company, which was a portfolio company of an Indian conglomerate, an issuer company that operated in the renewable-energy sector whose securities were…
