abrdn update: August 2024
After a scandal plagued year has wiped billions from its valuation, Adani is making a comeback. Right now Adani is making the rounds to investors, seeking to raise billions of dollars to bring back disastrous projects like its coal-to-plastics plant in Mundra, India.
abrdn - one of the UK's largest investors - has held significant investments in Adani stocks and bonds although in recent months its shown signs its support was waning. But as Adani drums up investor interest for its massive new round of coal expansion, abrdn still hasn't confirmed publicly whether it's in or out. As it tries to project confidence in its first capital raising in months, what Adani most certainly doesn't need is a high profile investor like abrdn walking away.
So the question becomes: will abrdn rule out new investments in Adani?