India's Adani group told investors that several top Japanese and European banks have reaffirmed confidence in the embattled conglomerate after it was pummeled by a U.S. short seller's critical report, a company document showed.

Led by billionaire businessman Gautam Adani, the group's seven listed stocks have lost about $120 billion in market value since a Jan. 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation, allegations the group has denied.

Adani group shares and bonds have regained some lost ground over the past month or so after it repaid some debt and attracted a $1.9 billion investment from boutique investment firm GQG Partners.

Still, Adani is battling an investigation by India's market regulator which is looking into Hindenburg's allegations as well as the group's related party dealings following a Supreme Court directive.

In a series of roadshows from Hong Kong to New York held in recent weeks for fixed income investors, the group committed to achieving 20% year-on-year growth in core earnings and to diversify its debt portfolio, the document showed.

Global banks such as "MUFG, SMBC, Mizuho, Standard Chartered, Barclays, DBank (Deutsche Bank), consortium lender banks have reaffirmed confidence in Adani group," said the document which stated its goal was to assuage investors.

The document, which was reviewed by Reuters, did not elaborate on how the lenders reaffirmed their commitment to the Adani group.

Several of the banks already have business relationships with the group, ties which the conglomerate has previously pointed to as a sign of its strength to counter Hindenburg's allegations.

Adani group did not respond to a request for comment. Barclays PLC declined to comment.

India's Adani group told investors that several top Japanese and European banks have reaffirmed confidence in the embattled conglomerate after it was pummeled by a U.S. short seller's critical report, a company document showed.

Led by billionaire businessman Gautam Adani, the group's seven listed stocks have lost about $120 billion in market value since a Jan. 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation, allegations the group has denied.

Adani group shares and bonds have regained some lost ground over the past month or so after it repaid some debt and attracted a $1.9 billion investment from boutique investment firm GQG Partners.

Still, Adani is battling an investigation by India's market regulator which is looking into Hindenburg's allegations as well as the group's related party dealings following a Supreme Court directive.

In a series of roadshows from Hong Kong to New York held in recent weeks for fixed income investors, the group committed to achieving 20% year-on-year growth in core earnings and to diversify its debt portfolio, the document showed.

Global banks such as "MUFG, SMBC, Mizuho, Standard Chartered, Barclays, DBank (Deutsche Bank), consortium lender banks have reaffirmed confidence in Adani group," said the document which stated its goal was to assuage investors.

The document, which was reviewed by Reuters, did not elaborate on how the lenders reaffirmed their commitment to the Adani group.

Several of the banks already have business relationships with the group, ties which the conglomerate has previously pointed to as a sign of its strength to counter Hindenburg's allegations.

Adani group did not respond to a request for comment. Barclays PLC declined to comment.