Adani CFO Jugeshinder Singh says no refinancing, capital plans at Hong Kong roadshow

Jugeshinder Singh, chief financial officer of Adani Group, speaks during an interview ahead of an investor roadshow in Hong Kong, China, on Tuesday, Feb. 28, 2023. The crisis-ridden Adani Group is moving an investor roadshow to Hong Kong Tuesday, continuing its charm offensive to ease concerns about its financial health and corporate governance induced by a short-seller's allegations. Photographer: Justin Chin/Bloomberg

Adani Group isn’t seeking to refinance debt or inject capital, group chief financial officer Jugeshinder Singh told Bloomberg News on the sidelines of an investor roadshow in Hong Kong Tuesday.

When asked “Are you looking to refinance any debt?” Singh said: “No, we don’t have anything major at all.”

“There’s no transactions,” he added, without specifying a timeframe or elaborating further.

He also said “No” in response to the question: “Are you looking to inject any capital?”

The crisis-ridden Indian conglomerate is continuing an investor roadshow in Hong Kong Tuesday to ease concerns about its financial health and corporate governance induced by a short-seller’s allegations.

It held a series of investor meetings on Monday in Singapore, where executives said the group has enough money to repay debt due over the next three years in addition to an $800 million credit facility.