Adani group starts fundraising efforts

Adani Group executives have met U.S. investors in an effort to raise fund for the conglomerate. The executives met investors from BlackRock Inc., Blackstone Inc. and Pacific Investment Management Co, among others.

As per Bloomberg, Adani group is planning to market privately placed bonds for some of its group companies. The conglomerate is aiming to raise up to $1 billion in two tranches this year via such a route.

The meetings were are a part of a global roadshow that reached U.S. cities including New York, Boston, Los Angeles and San Fransico. After the Hindenburg report, Adani is seeking to reassure international investors that the group's finances are under control. As much as $153 billion in combined market value was erased from company stocks following a January short seller’s report.