Adani Enterprises plans to raise up to $116.77M via bond issue amid ongoing investigations.

Adani Enterprises, led by Indian billionaire Gautam Adani, plans to raise up to $116.77 million through a bond issue next week, offering two-, three-, and five-year bonds with coupon rates of 8.95%, 9.15%, and 9.30% respectively. This follows a similar issue in 2021 that raised $90 million. The company faces ongoing investigations by U.S. authorities and India’s Securities and Exchange Board over tax haven allegations.