India's Adani Group has reached out to banks to try to allay their concerns as some consider tighter credit rules for the embattled conglomerate after a botched $2.5 billion share sale and a massive sell-off in its stocks, several bankers said.
India's No. 1 lender, SBI says the bank has about 270 billion rupees in loans to Adani Group.
Referring to Hindenburg's allegations, another senior SBI banker said the concerns raised had become a "big issue", and would have to be evaluated carefully. SBI chairman Dinesh Khara told a post-earnings press conference on Friday that the bank didn't envisage any challenges from Adani Group, but further financing for its projects would be evaluated on merit.
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