The Adani Group has planned to hold roadshows in Dubai, London, and other American cities starting today in the midst of the Hindenburg controversy and the market upheaval. Jugeshinder Singh, the chief financial officer, will also be present at the roadshows, which will take place from March 7 to March 15. In February and earlier this month, the group reportedly held roadshows in Singapore and Hong Kong as well.
The conglomerate is putting out fires in an effort to restore investor confidence that has been damaged as a result of the US short-sellers' report accusing the company of stock manipulation, accounting fraud, and other financial wrongdoings.
With the failure of the Hindenburg, which cost investors billions of dollars, Adani saw the first significant investment. Adani Green Energy, Adani Enterprises Ltd., Adani Transmission, and Adani Ports and Special Economic Zone are the four Adani Group firms in which American boutique investment firm GQG Partners purchased shares for a total of Rs 15,446 crore.
Except for ACC and Ambuja, eight out of the ten Adani companies saw increases on Monday as a result of the investment.
In an interview, Rajiv Jain, Chairman of GQG Partners, outlined the justification for the purchase. In an interview with The Economic Times, he also stated that the Adani Group is doing quite fine and that India currently needs someone who can carry out its infrastructure needs. He added that his team conducted extensive background checks on former employees of the Adani Group to obtain a sense of the workplace's culture and that they were quite satisfied with the way the organisation had performed.
According to Kotak Institutional Equities, worries regarding the group's ability to raise money for debt repayment should be allayed by the sale of 2.5 - 4.1% of the share in the four listed companies.
Furthermore, the conglomerate has scheduled roadshows on February 27 in Singapore and February 28 and March 1 in Hong Kong. Earlier this month, Adani allegedly spoke with bondholders in an effort to allay investor fears. The company's Asia roadshow was organised by Barclays, BNP Paribas, DBS Bank, Deutsche Bank, Emirates NBD Capital, ING, IMI-Intesa Sanpaolo, MUFG, Mizuho, SMBC Nikko, and Standard Chartered Bank.