Adani Group hires banks to hold fixed-income investor calls

Bloomberg: Banks are setting up meetings with fixed-income investors over the next week on behalf of Adani Group, Adani Green Energy and Adani Transmission.

The calls are scheduled for February 16 and February 21, according to a person familiar with the matter. Barclays, BNP Paribas, DBS Bank, Deutsche Bank, Emirates NBD Capital, ING Groep NV, MUFG, Mizuho, SMBC Nikko and Standard Chartered Bank are organizing the calls. It’s unclear what will be discussed during the meetings.

The announcement comes after Adani Group companies said in a stock exchange filing that it faces no material refinancing risk and there is no near-term liquidity requirement. The company also has no significant debt maturing in the near term.

Gautam Adani has been trying to win back investor confidence after a bruising report from a short seller wiped out more than $120 billion of his empire’s market value. His flagship firm, Adani Enterprises Ltd., based in the tycoon’s home city of Ahmedabad in western India, posted on Tuesday net income of Rs 820 for the quarter ended December 31, compared with a loss of Rs 1163 lakh in the same period last year.

There weren’t enough brokerages tracking the company to derive an average profit forecast.