INSUBCONTINENT EXCLUSIVE:
This is the first time mutual funds have subscribed to bonds from an Adani Group company since short-seller Hindenburg Research's report in
| Photo: India Shipping News2 min read Last Updated : Sep 30 2024 | 5:22 PM IST
India's Adani Airport Holdings has raised Rs 1,950 crore
($232.72 million) via the biggest domestic bond issue since US short-seller Hindenburg Research accused its parent group of improper use of
country, had invited bids from investors earlier in the day and will pay a coupon of 9.35 per cent, payable monthly for the bonds that are
Birla Finance and Aditya Birla Sunlife Mutual Fund are the anchor investors and have invested Rs 285 crore, Rs 100 crore and Rs 50 crore,
funds have subscribed to bonds from an Adani Group company since short-seller Hindenburg Research's report in January 2023, which the group
company raising such a large amount from the market in recent months." The issue's proceeds will be used to repay the Airports Authority of
India's investments in six airports before it bought them from the Adani Group, according to the term sheet.(Only the headline and picture
of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated
feed.)First Published: Sep 30 2024 | 5:21 PMIST
