These bonds were issued in 2019 when APSEZ had raised $650 million through five-year bonds due for maturity in July 2024. After the US-based activist shortseller Hindenburg Research released an adverse report on Adani Group in January, the bonds fell to 86/88 cents on the dollar, and has since recovered to 97 cents, said a bond trader.
Rupee may test 94–95 zone soon as geopolitical risks mount: Analysts
The Indian rupee is facing pressure, nearing the 94/$ mark against the US dollar due to escalating tensions in the Strait of Hormuz and potential