NEW DELHI: Several of Adani Group’s dollar bonds fell the most in more than half a year, after news that US prosecutors have widened their probe of the port-to-power conglomerate to focus on whether it may have engaged in bribery.
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.
US investigators are digging into whether an Adani entity, or people linked to the company including Gautam Adani, were involved in paying officials in India for favorable treatment on an energy project, according to people with direct knowledge of the matter. The probe, which is also looking at Indian renewable energy company Azure Power Global Ltd., is being…
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.
US investigators are digging into whether an Adani entity, or people linked to the company including Gautam Adani, were involved in paying officials in India for favorable treatment on an energy project, according to people with direct knowledge of the matter. The probe, which is also looking at Indian renewable energy company Azure Power Global Ltd., is being…
