Having withdrawn its €20,000 crore follow-on public offer and been put under watch by rating agencies following a damning report by New York-based short seller Hindenburg Research, the group may no longer bid as aggressively as it did in the past, they said.
"The group will not be able to bid as aggressively as earlier since the cost of capital is set to rise considerably for them. Any change in the cost of capital is set to impact various calculations," an industry executive said on the condition of anonymity.
Adani, in February 2019, won bids to upgrade and operate six government-owned airportsLucknow, Mangaluru, Ahmedabad, Jaipur, Guwahati and Thiruvananthapuram-for 50 years.
This story is from the February 06, 2023 edition of Hindustan Times.
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This story is from the February 06, 2023 edition of Hindustan Times.
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