Adani Group's cash-rich ports and logistics arm Adani Ports and Special Economic Zone Ltd, on Monday, announced a buy-back of up to $130 million of the company's outstanding bonds in an attempt to comfort investors and creditors about the group's liquidity position that came into question after a scathing report by US-based short-seller Hindenburg Research on 24 January.
This is the first ever buyback of bonds by Adani Ports and it assumes significance in the backdrop of a widespread concern among investors about the group's liquidity position after the Hindenburg Research report.
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