MUMBAI: The Adani group will hold a fixed-income investor roadshow on February 27 in Singapore, and from February 28 to March 1 in Hong Kong, an official familiar with the development said.

The Adani group is boosting outreach to investors after its bonds and stock slumped following a critical report from short-seller Hindenburg Research published last month.

The Adani group, which also held calls with investors earlier in February, is seeking to stem the negative impact from the Hindenburg Research claims as it faces debt maturities from group entities over the next 2 years. 
Meanwhile, Moody’s Investors Service (MIS) this month cut the outlook on several Adani companies, citing concerns over the impact of any big jump in funding costs.

Barclays Plc, BNP Paribas SA, DBS Bank Ltd, Deutsche Bank AG, Emirates NBD Capital, ING, IMI-Intesa Sanpaolo SpA, MUFG, Mizuho, SMBC Nikko and Standard Chartered Bank have extended the invitation for the roadshow to potential investors.Meanwhile, Adani Group said the Indian company agreed to revise its procurement price for coal to keep the per unit power price almost equal to those of Bangladeshi coal-fired plants like the Rampal and Payra, the two joint-venture installations with India and China.

Adani with other Developments: Bangladesh’s state-run Power Development Board) earlier this month sought to revise a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive.

According to prior media reports, Adani Power asked Bangladesh to open LCs in India so that it could import coal for the 1,600-megawatt facility in the Godda area of Jharkhand. Bangladesh then requested the price modification.

Adani Stock Buzz: Adani Total Gas' stock price dropped 5% more and finished at the lower circuit level on February 24, extending its losing streak to 21 sessions, 20 of which have seen it close at that level. 
On January 25, when American short-seller Hindenburg Research published a devastating report on the company accusing it of stock manipulation, accounting fraud, and corporate malfeasance, the stock has already lost over 80% of its value. 

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