Signage of Adani Group in Mumbai, India, on Wednesday, on Feb. 15, 2023. Photographer: Indranil Aditya/Bloomberg
The Adani Group will hold a fixed-income investor roadshow in Asia next week, a person familiar with the matter said.
The Indian conglomerate will hold the roadshow on Feb. 27 in Singapore, and Feb. 28 to March 1 in Hong Kong, according to a person, who asked not to be identified discussing a private matter.
The group is boosting outreach to investors after its bonds and stock slumped following a critical report from short-seller Hindenburg Research published last month.
The Adani Group, which also held calls with investors earlier in February, is seeking to stem the negative impact from the Hindenburg claims as it faces debt maturities from group companies over the next two years. Moody’s Investors Service this month cut the outlook on several Adani companies, citing concerns over the impact of any big jump in funding costs.
Barclays Plc, BNP Paribas SA, DBS Bank Ltd., Deutsche Bank AG, Emirates NBD Capital, ING, IMI-Intesa Sanpaolo SpA, MUFG, Mizuho, SMBC Nikko and Standard Chartered Bank have extended the invitation for the roadshow to potential investors.
