Gautam Adani’s ports unit is considering plans to repay up to INR 50bn ($605m) of loans in a bid to restore investor confidence in the jewel in the Indian billionaire’s business empire.
Shares in Adani Ports & Special Economic Zone (APSEZ) have suffered a brutal sell-off after US short-seller Hindenburg Research levied accusations of accounting fraud and market manipulation at the wider Adani Group.
The company said Tuesday that the loan repayment would improve net debt to earnings before interest, taxes, depreciation, and amortisation ratio to about 2.5
