MUMBAI: Hedge funds that previously stayed clear of stocks and bonds linked to Gautam Adani's empire are jumping in after a more than $100 billion wipeout in the group's market value.
Battered down bond prices and heightened price swings on many Adani securities have drawn in new investors, according to hedge fund managers, traders and investors, who asked not to be identified discussing private details. Some said the strong assets and cash flows of Adani ports, power and green energy companies would ensure debt is serviced and that investors would be shielded from any losses resulting from any future defaults.
