Adani's group led by Gautham Adani is looking to raise USD 1-1.5 billion for financing new green energy projects in the comopany's  biggest borrowing since the group came under attack from a US short seller in January.

Adani group recently held a roadshow in Singapore, followed by another 2-day roadshow in Hong Kong, talking to global financial institutions for the fundraising, sources with knowledge of the development said. The Singapore meeting was held with the help of 12 global banks like BNP Paribas, DBS Bank, Standard Chartered Bank, Deutsche Bank, ING, Mitsubishi UFJ Financial Group and Mizhuo, they said.

 US short-seller Hindenburg Research in January released a damning report alleging accounting fraud and stock price manipulation at the Adani group, triggering a stock market route that had erased about USD 145 billion in the conglomerate's market value at its lowest point. Adani group has denied all allegations by Hindenburg and is plotting a comeback strategy.

The group has recast his ambitions as well as prepaid some loans to assuage investors. The debt that Adani Group is looking to raise will be the conglomerate's biggest borrowing since the January 24 Hindenburg report. Sources said in its recent roadshows across six countries, the finance leadership team in Adani met the debtors, bondholders, global banks and FIIs and reinforced the strength of the portfolio and the underlying credit quality of the portfolio.

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