Business

Adani seeking 220$ million Loan

The joint venture of India’s Adani Group is in talks with about a half-dozen banks for a loan of about $220 million, its first since Hindenburg went public this year, the report said.

A joint venture of India’s Adani Group is in talks with about half a dozen banks for a loan of about $220 million, the first since short seller Hindenburg published a damaging report on it this year, Bloomberg News reported on Tuesday.

Data center provider AdaniConneX, a joint venture with Virginia-based EdgeConneX, will use the money for capital expenditures, with a five-year duration being discussed, the news agency said, citing people familiar with the matter. The loan may be signed in the next few weeks, the report added.

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