Adani eyes $800 million loan for new projects in biggest fundraiser since Hindenburg fiasco

A green hydrogen project with French partner TotalEnergies and a petrochem project in Mundra, are among Adani's initiatives stalled because of the Hindenburg Research report. After suffering a $140 billion loss in market value, the conglomerate has been working on a recovery by selling shares worth Rs 15,000 crore and prepaying loans.

After efforts to allay debt concerns, Adani is reportedly borrowing again, and is eyeing $800 million to boost its foray into green energy.

Are bank's confident about Adani?

• The group has been approaching lenders including the Sumitomo Mitsui Bank, DBS, Mitsubishi UFJ and Standard Chartered for the funds.

• If banks agree to finance Adani's green power projects, it will indicate a renewed confidence in the conglomerate's ability to repay loans.

• The $800 million fund will be the biggest financing for the Adani Group ever since it was hit by the Hindenburg report.

Hindenburg still haunting Adani?

• The allegations by Hindenburg included claims that Adani used offshore firms to inflate the value of its stocks, which can be pledged for higher loans.

• Recently, Gautam Adani's brother Vinod Adani was forced to step down from the board of three firms linked to Adani's mine in Australia.

• Although the conglomerate is focusing on green energy, it has been facing heat over the environmental impact of its coal mining operations in Australia.