Adani Group's list of lenders has reportedly increased to 25 from 18, and its debts amounted to INR 2.27tn ($30.6bn) at the end of fiscal year 2023. Majority of global banks have reaffirmed their confidence in the group, including Barclays, Deutsche Bank, Mitsubishi UFJ, Mizuho, Sumitomo Mitsui, and Standard Chartered. Adani's debt structure consists of 39% bonds, 29% financed by global banks, and the remaining 32% is financed by NBFCs, PSU, and private banks. However, Aswath Damodaran, a valuation guru, suggests that Adani Group carries three times more debt than it should have. The combined value of all 10 Adani stocks has halved since the release of the Hindenburg report.