Adani group’s bonds tumble after Gautam Adani charged in US with bribery, fraud | Top updates

Date:

November 20, 2024

Nov 21, 2024 09:05 AM IST

Gautam Adani indicted: The billionaire has been charged with paying millions of dollars of bribes and hiding payments from investors, US prosecutors said.

Gautam Adani indicted in US: Dollar bond prices of Adani Group companies dropped significantly in early Asian trading on Thursday, November 21, following the indictment of the conglomerate’s billionaire chairman, Gautam Adani, in New York on charges of bribery and fraud, news agency Reuters reported.

Indian billionaire Gautam Adani speaks during an event. (REUTERS)

Debt issued by Adani Port and Special Economic Zone, maturing in August 2027, declined over five cents on the dollar, as per LSEG data. Bonds of Adani Electricity Mumbai, maturing in February 2030, fell nearly eight cents, while those of Adani Transmission also saw drops exceeding five cents, trading slightly above 80 cents, it reported.

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Adani group’s bonds tumble after Gautam Adani charged in US with bribery, fraud | Top updates

Gautam Adani indicted: The billionaire has been charged with paying millions of dollars of bribes and hiding payments from investors, US prosecutors said.

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Adani group’s bonds tumble after Gautam Adani charged in US with bribery, fraud | Top updates

Gautam Adani indicted: The billionaire has been charged with paying millions of dollars of bribes and hiding payments from investors, US prosecutors said.

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