New Delhi: There has been repeated discussion about the debt of the Adani group. Hindenburg has raised many questions in his report regarding Adani’s debt. At the same time, big information has come to the fore regarding the debt of Adani Group’s power plant. Adani Power’s Mandra Power Plant is heavily indebted. The plant has a loss of $1.8 billion. The company has done creative debt financing of more than $ 1 billion regarding this loss. The company is arranging creative debt finance to assure investors and reduce losses. Bloomberg has said this in its report. Although Adani Power Limited or the accounting expert did not talk to Bloomberg about this report.
Let us tell you that Gautam Adani had entered the power sector 15 years ago. Within a short span of time, he has established himself as a major player in the power generator sector. He got control of so many plants that he started being counted among the biggest power suppliers of the decade. In the midst of his power mission, he bought the Mundra power plant. Adani’s power plant located on the Gujarat coast has the capacity to supply electricity to more than 50 lakh homes. To keep the cost down, coal was supplied from Indonesia in this plant. However, this planning of Adani was not successful for a long time. The loss of the plant started increasing. Things got to the point that the plant’s debt exceeded its assets.
Significantly, the American research firm Hindenburg also made serious allegations against the Adani group in its report. Talked about the heavy debt burden on the company. The short seller firm raised questions on the huge debt on the Adani group. Although the group denied these allegations, the company suffered huge losses due to this report for a month. The company’s market cap fell by more than $145 billion. The company is still struggling to reach its former position.
