Adani Group has delayed a $1.5 billion green bond sale initially marketed at 7 per cent. The funds were intended for foreign-currency loan repayment. The deal may return post-November state elections as the conglomerate seeks to rebuild investor confidence after a significant stock rout in 2023.

Units of the group’s clean-energy business, Adani Green Energy Ltd. are marketing a green 20-year note in the US currency on Tuesday, as that business ramps up spending to boost capacity.

India's Adani Green Energy cancelled its plan to raise funds via U.S. dollar-denominated bonds after investors placed bids at higher yields than the company was willing to pay, two bankers directly involved in the deal said late on Tuesday.

Gautam Adani-led conglomerate Adani Green Energy has postponed the sale of its $1.2 billion in bonds amidst thin market conditions and a lack of clarity over the result of the US presidential elections.

According to one of the bankers, the initial guidance set out to offer a yield of 7% for the 20-year maturity, Reuters reported. The bond proceeds were intended to release funds from an existing $3.4 billion revolving credit facility with banks,