According to Gupta, the largest lender in Singapore has no exposure to Adani's share concerns. The company has strong cash flows, he continued, and as long as these cash flows are ringfenced, he is not worried about the risk to Adani Group's lenders.
According to DBS Group Holdings Ltd.'s principal executive officer Piyush Gupta, the company has exposure to the Adani Group of S$1.3 billion ($976 million), of which S$1 billion is from funding the purchase of a cement company and the remaining S$300 million is from other Adani enterprises.
According to Gupta, the largest lender in Singapore has no exposure to Adani's share concerns. He continued by saying that the business has strong cash flows and that because these cash flows are ringfenced, he is not worried about the risk to Adani Group's lenders.
Regarding cement deals, Gupta remarked, "This risk is properly managed.
Adani had previously claimed its strong connections to international banking to claim that its portfolio companies have successfully syndicated banking transactions. It used as an illustration the $10.5 billion purchase of the Indian cement operations of Holcim Ltd.
The spat between the company and US short seller Hindenburg Research, which has accused it of stock manipulation and accounting fraud, has caused attention to turn to Adani's financial connections. Although banks in India have mostly ignored worries about the billionaire's enterprise, some lenders have already refused to refinance a bridge loan.
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