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Adani Enterprises Cancels $122 Million Bond Launch

Adani Enterprises Ltd has decided to cancel its plan to raise INR 10 billion ($121.65 million), according to a report by Bloomberg News.


he company had planned to launch a public note issuance in January, with the help of Edelweiss Financial Services Ltd, AK Capital, JM Financial, and Trust Capital. However, the plan has been put on hold, as stated by people familiar with the matter.

The cancellation of the bond plan comes after Adani Enterprises halted its $2.5 billion share sale earlier this week. The move was in response to a drop in the company's stock value, caused by criticisms from a U.S. short-seller. The Indian markets regulator is currently investigating the stock crash, the shelved share sale, and any potential price manipulation. The Adani Group has been under scrutiny recently, following allegations of improper use of offshore tax havens, stock manipulation, and high debt levels. No comment was available from Adani Group, Edelweiss, AK Capital


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