India's Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said it will consider its first and partial buyback of certain of the company's debt securities. 

Adani Ports said in an exchange filing that it will consider buying back the securities, which will be denominated in either Indian rupees or US dollars, during the current fiscal year, subject to market conditions. The move comes as the conglomerate tries to regain investor trust after being battered by a critical report from a US short seller. 

The group's seven listed stocks, led by billionaire businessman Gautam Adani, have lost about $114 billion in market value since a Hindenburg Research report in January '24 accused it of improper use of offshore tax havens and stock manipulation, allegations the group has denied. 

Adani group shares and bonds have recovered some of their lost ground in the last month or so, thanks to debt repayment and a $1.9 billion investment from boutique investment firm GQG Partners. However, the group is still fighting an investigation by India's market regulator into Hindenburg's allegations as well as the group's related party dealings in response to a Supreme Court directive.