India's Adani looks to raise $5b to cut debt, said to have approached SWFs

India's Adani looks to raise $5b to cut debt, said to have approached SWFs

FILE PHOTO: The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave

Indian billionaire Gautam Adani is considering raising roughly $5 billion and has approached sovereign wealth funds after lenders asked his conglomerate to reduce leverage, Bloomberg News reported on Wednesday, citing people familiar with the matter.

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