India’s Adani Group pre-pays over $900 million worth share-backed financing – Reuters India

India’s Adani Group pre-pays over $900 million worth share-backed financing – Reuters India

BENGALURU, March 7 (Reuters) - Embattled Indian conglomerate Adani Group said it prepaid share-backed financing of 73.74 billion rupees ($901.16 million), as it looks to allay fears over leverage and debt since a U.S. short seller's critical report sparked a stock rout.

Hindenburg Research had in its Jan. 24 report alleged stock manipulation and improper use of tax havens by Adani, and flagged "substantial" debt levels, which the group has denied.

The billionaire Gautam Adani-led group recently held road shows in Hong Kong and Singapore, and is expected to hold another set of fixed income meetings in Dubai, London and the United States, starting Tuesday, according to a document seen by Reuters.