Adani Group CFO Addresses Bribery Allegations and Financial Strategies

The Adani Group CFO has firmly denied all bribery allegations against its members. The CFO discussed the delay in Adani Green's $600 million bond till 2025, while maintaining strong investment strategies in logistics and energy. Meanwhile, the group plans a $500 million private placement for debt refinancing by February 2025.

In a bold move, the Adani Group's Chief Financial Officer has come out strongly against bribery allegations targeting individual group members. The CFO emphasized a collective rejection of these claims, indicating that while the group will not act on the U.S. indictment, the individuals involved will be addressing the legal challenges separately.

Despite the allegations, the CFO revealed strategic financial maneuvers for the group's future. Adani Green's $600 million bond offering has been delayed until the second quarter of 2025, while a substantial $500 million private placement is expected to aid in debt refinancing by February 2025. This underscores the group's commitment to maintaining robust financial health.

The group remains unfazed in their investment endeavors, particularly within logistics and energy sectors. With a $3 billion debt repayment within the upcoming year, the company backs its abilities based on cash flow without additional financial requirements for committed projects. The CFO also highlighted the need for U.S. capital for long-duration assets, given the inadequacy of the domestic market for such funding.

(With inputs from agencies.)