The Trump DOJ is reportedly preparing to drop federal fraud charges against Indian billionaire Gautam Adani after he hired one of Trump's personal lawyers and pledged a massive investment in the United States. According to reports, Trump lawyer Robert Giuffra Jr. met privately with Justice Department officials in April and argued the case against Adani should be dismissed. This development comes after federal prosecutors originally alleged that Adani and associates helped orchestrate over $250 million in bribes connected to energy contracts in India while misleading international investors. The charges were reportedly dropped following Adani's commitment to invest $10 billion in the US economy, as confirmed by NTV Kenya.
Indian conglomerate Adani Group is reviving plans to seek approximately $1 billion through a US-listed dollar-denominated bond, according to people familiar with the matter. The ports-to-power group, controlled by billionaire Gautam Adani, has begun early-stage internal discussions and informal consultations with advisers. Any proceeds from the bond sale, carried out by its energy unit Adani Green Energy Ltd., would go toward capital expenditures and refinancing needs, as reported by Business Standard. The proposed issuance would mark the first US-listed debt issuance by an Adani Group firm.
This week, Gautam Adani and his nephew Sagar have agreed to pay a total of $18 million to settle US Securities and Exchange Commission allegations that they made false and misleading representations about Adani Green Energy. The proposed settlement paves the way for the group to ramp up investment and capital-raising after months of battling the allegations. The fundraising may take place over the next three to four quarters, or by early next year, according to sources familiar with the matter.
Following the proposed settlement, most of Adani Group's dollar bonds rose on Friday. An Adani Green Energy note due in 2042 jumped as much as 1.1 cent, the most since early April, to 98.4. A note from Adani Ports and Special Economic Zone due in 2041 gained 0.9 cent. Shares of the group's flagship Adani Enterprises Ltd. rose as much as 3.3% in Mumbai on Friday, after shares spiked 8.6% ahead of the US court filing of the settlement proposal.
The company's credit profile is showing signs of improvement. In November 2025, Crisil Ratings, the local arm of S&P Global Ratings, upgraded Adani Green to AAA from AA+, citing healthy financial risk profile. An Adani Group spokesperson declined to comment on the bond revival plans.
In November 2024, Adani Green sought to revive a dollar bond offering, about a month after shelving the deal following investors' demand for a higher yield. However, just days later, the SEC alleged in its lawsuit that Adani spearheaded an effort to pay or promise hundreds of millions of dollars in bribes to Indian officials to win contracts Adani Green needed to develop India's largest solar power plant project. The charges were reportedly dropped following Adani's commitment to invest $10 billion in the US economy, as confirmed by NTV Kenya.
