. The Adani group’s unadjusted debt, around $27 billion at current exchange rates, rose about 40% in the most recent full financial year. The tycoon had planned to raise $5 billion from equity markets in 2023 and to secure $3 billion in the first three months. He was also planning to refinance loans on his multi-billion cement deals, which were bankrolled by foreign lenders.
State Bank of India said its exposure to the Adani group was well below the limits allowed by the country’s banking regulator and that the conglomerate’s ability to service its debt would not be a challenge, Reuters reported on Jan. 27, citing CNBC TV18. On the same day, index provider MSCI said it welcomed feedback from market participants on Adani and associated securities.
Source: News Formal (newsformal.com)
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