Adani Pivots to Local Debt With Goal of Raising $10 Billion

Indian conglomerate Adani Group is ramping up financing at home amid global market volatility and a US bribery probe against its founder, in a test of how far domestic creditors can go to help fund some of the world’s biggest infrastructure plans.

The ports-to-cement behemoth, owned by billionaire Gautam Adani, increased funding from the local debt capital markets to the equivalent of $2 billion in 2025, a ten-fold rise from about a year earlier, according to Group Chief Financial Officer Jugeshinder Singh. It’s now keen to push that amount to as much as $10 billion over the next three years, he said.