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°Indictment of Gautam Adani credit -ve for group,
Millennium Post Delhi
|November 22, 2024
AFTER PROMOTER CHARGED IN ALLEGED BRIBERY CASE INV US
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Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adaniis conglomerate, on Thursday scrapped a $600 million bond issue after its promoter was charged in an alleged bribery case in the US.
Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay $265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.
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