One banker, who preferred to remain anonymous due to restrictions on media communication, mentioned that the companies might enter the market before the end of the month, pending an assessment of investor interest during upcoming roadshows. Adani Green has not responded to requests for comment from Reuters.

The issuers have appointed various banks, including DBS Bank, Emirates NBD Bank, First Abu Dhabi Bank, Mizuho Securities (Singapore), MUFG Securities Asia's Singapore branch, SMBC Nikko Securities (Hong Kong), Societe Generale, and the State Bank of India's London branch, as joint bookrunners. These banks will coordinate a series of investor meetings across Asia, the Middle East, Europe, the U.K., and the U.S.

The bonds are rated BBB- (EXP) by Fitch and Baa3 by Moody's. The proceeds from this bond issuance are intended to refinance the subsidiaries' existing dollar-denominated construction loans. Fitch noted that the proposed notes would feature security and protective structures akin to those of the group's current restricted notes, with each of the four special purpose vehicles (SPVs) participating in the issuance.