Adani Group to host investor meet in Singapore to boost global confidence

Adani Group is planning an investor conference in Singapore later this month, people familiar with the matter said, as part of a push to bolster confidence among global investors and expand the group’s international shareholder base.

Management teams across billionaire Gautam Adani’s ports-to-power empire are set to meet equity and credit investors, banks, and bond-rating providers on Nov. 24 and 25, according to the people, who asked not to be identified discussing confidential matters.

Senior leadership including Group Chief Financial Officer Jugeshinder Singh and executives of Adani companies will attend the meetings, the people said.

On the sidelines of a similar event in London, Singh outlined the group’s aim to cut leverage over the next five years, while speaking in an interview with Bloomberg. The latest outreach underscores the conglomerate’s efforts to regain momentum after a shortseller report in 2023 and an investigation by the US Department of Justice into an alleged bribery scheme, which the group has denied.

Representatives for the Adani Group declined to comment.

On Wednesday, Adani Enterprises Ltd. offered stock to existing shareholders at a 24 per cent discount for a rights issuance that aims to raise 249.3 billion rupees ($2.8 billion. And earlier this week, BofA Securities initiated overweight coverage on select Adani Group dollar bonds, pointing to Ebitda growth as the group expands capacity and moderates leverage.