Adani Group’s dollar bonds experienced significant declines following reports of an expanded US investigation into potential bribery. Bonds from Adani Ports & Special Economic Zone Ltd. and Adani Renewable Energy RJ Ltd. saw notable drops, impacting the group’s shares in pre-market trade. US prosecutors are reportedly examining whether Adani entities, including Gautam Adani, engaged in bribery in India. While the group denies awareness of any investigation against its chairman and emphasizes compliance with anti-corruption laws, investor sentiment may be affected. Despite recent debt reduction efforts and successful bond sales, Adani Group’s market value, though improved, remains below pre-allegation levels.
Adani Group Bonds Decline Amid Widened US Probe
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