Three Adani group companies have pledged shares for lenders to the Indian conglomerate's flagship Adani Enterprises , which pulled a $2.5 billion share sale during a recent market rout, the debt trustee firm said.
Hindenburg Research accused the group of stock manipulation and improper use of offshore tax havens. The group has rejected the firm's findings and denied any wrongdoing.the Adani group's links to some of the investors in the conglomerate's aborted share sale, sources told Reuters on Friday.
Fitch estimates that loans to all Adani group entities account for 0.8% to 1.2% of total lending by Indian banks rated by the agency. State Bank of India's exposure to the group was 0.9% of its loan book, or around 270 billion Indian rupees , Chairman Dinesh Kumar Khara has said., two global rating agencies have said.Our Standards:
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