BlackRock has more than $100 million exposure to Adani's dollar debt, report says
Legendary investor Mark Mobius said his firm didn't take part in Adani Enterprises' stock sale before it was scrapped because it had concerns about the embattled Indian conglomerate's debt.
"It's all about debt. The company and its associates are heavily in debt, and that's what sort of scared us away," the founding partner of Mobius Capital Partners Over 200 institutions have taken on debt from the group's companies, Bloomberg reported. Its analysis of filings covered only 18% of Adani's total dollar debt due to different reporting rules across countries, it said.
It reported that Adani is considering prepaying some loans early to restore confidence in the conglomerate's financial health. BlackRock didn't immediately respond to Insider's request for comment.
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