LONDON (Reuters) – Dollar bonds issued by entities of India’s Adani Group tumbled on Friday as a scathing report by a U.S. short seller triggered a rout in the conglomerate’s listed firms.
The short seller report has cast doubts on how investors will respond to the company’s record $2.45 billion secondary sale.
U.S. dollar-denominated bonds issued by Adani Green Energy extended this week’s sharp falls to just under 77 cents in the dollar to their lowest since November, Tradeweb data showed. The price was last down 7.32 cents to 77.007 cents..
International bonds issued by Adani Ports And Special Economic Zone, Adani Transmission and Adani Electricity Mumbai also fell.,,.
(Reporting by Amanda Cooper and Dhara Ranasinghe)