Pedestrian walks past by signboard of Adani Electricity Mumbai Ltd., in Mumbai, India, on Tuesday, Sep. 6, 2022. Photographer: Dhiraj Singh/Bloomberg
Adani Electricity Mumbai Ltd., part of Gautam Adani’s embattled empire, has made an interest payment due Monday on a dollar bond, an Adani Group spokesperson said.
Adani Electricity Mumbai has made the coupon payment of $ 19.7 million as per schedule, the spokesperson said when asked about the status.
The coupon was due by the end of the business day Monday in New York on the firm’s 2030 notes, according to the bond documents. That’s because the official due date of Feb. 12 fell on a Sunday.
Investors are keeping close tabs on the conglomerate after US shortseller Hindenburg Research accused it late last month of accounting fraud and market manipulation. The group has repeatedly denied the claims. Its stocks and bonds have plummeted since the report, though they have pared some of those losses after company founders pre-paid some debt.
Adani firms have already paid more than $ 50 million worth of coupons on their dollar debt this month.
All payments are being made as per schedule, the Adani Group spokesperson said.
Here are the next dates for coupons on dollar securities across the Adani Group:
