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.
