MUMBAI: Adani Green Energy has delayed its planned USD bond offerings following charges filed against chairman Gautam Adani and other company executives by US prosecutors. The US Department of Justice and Securities and Exchange Commission have accused them of fraud and bribery to secure global investor funding. This legal issue has led the company to postpone its bond issuance, which was intended to raise capital in international markets.
The charges against Adani and his team have caused concerns among investors, affecting the company’s plans to expand through international debt offerings. While the exact timing for the resumption of the bond offering remains unclear, the company is expected to reassess its strategy in light of the legal challenges.
The legal developments come amid increasing scrutiny of Adani Group companies and their financial dealings. The allegations have raised questions about corporate governance and transparency, especially regarding their dealings with foreign investors and regulatory bodies.
Despite the setback, Adani Green Energy continues to pursue its growth strategies, with a focus on renewable energy investments. However, the delay in the bond offering underscores the challenges the company faces amid ongoing legal hurdles.
