Adani Group's debt sources 2023, by type
As of January 27, 2023, banks held a 39 percent share in Adani Group's total debt. Within this category, a major portion was held by public sector banks. Concerns over banks' exposure to the Adani Group have emerged post the publication of Hindenburg Research's report alleging financial fraud and stock manipulation. USD and FX bonds were the second biggest source of debt financing for the group.