The Adani group faces challenges in the stratospheric valuations of its listed companies and allegations of the means by which they reached such levels. This has hurt the group’s credibility to raise funds through issuance of equity capital. Adani’s difficulties in raising capital could delay the long-awaited revival of the private investments cycle.
Last three years were challenging for the Indian economy. The COVID-19 pandemic, the Russian invasion of Ukraine and the American central bank’s tight monetary policy impacted the global economy and India, too, was impacted.
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