Trinamool Congress MP Mahua Moitra on Friday slammed Adani Group’s ongoing overseas roadshows as being ‘pointless’ and that transparency from the ports-to-power conglomerate is the need of the hour.
“Believe Adani has investor roadshow over next few days. The only ask from Adani group is transparency: On ownership, On related party deals, On govt interactions, On total debt and liquidity. Having global private roadshows for investors is pointless. Just come out with the truth,” tweeted Moitra.
Her tweet refers to the various issues issued by US short seller Hindenburg Research in its scathing report against the conglomerate in January.
Shares of Adani Group’s listed companies have seen around $130 billion wiped away from their market valuation after Hindenburg Research’s report alleged stock manipulation and improper use of tax havens, and flagged “substantial” debt levels, which the group has denied.
Believe Adani has investor roadshow over next few days. The only ask from Adani group is transparency:
On ownership
On related party deals
On govt interactions
On total debt and liquidity
Having global private roadshows for investors is pointless. Just come out with the truth.
A Bloomberg report said Adani Group’s executives told investors in London that chairman Gautam Adani and his family have prepaid all borrowings backed by his conglomerate’s shares.
The investor meeting was part of a worldwide roadshow launched by the conglomerate aimed at reassuring investors that the conglomerate’s finances are under control.
Adani Group has lined up roadshows in several American cities till March 15 as part of its efforts to rebuild investor confidence.