The U.S. dollar-denominated bonds issued by India’s Adani Ports and Special Economic Zone rose on Monday, after the company commenced a cash tender offer for a buyback of securities.

On Monday, Adani Ports and Special Economic Zone, part of the beleaguered Adani Group, said it has floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds.

The note was the lead gainer among all the group companies.The purpose of the tender offer is to partly prepay the company’s near-term debt maturities and to convey the comfortable liquidity position,” it said in a statement.

The company has engaged Barclays Bank, DBS Bank, Emirates NBD Bank PJSC, First Abu Dhabi Bank, PJSC, MUFG Securities Asia Singapore Branch, SMBC Nikko Securities (Hong Kong) and Standard

Chartered Bank to serve as dealer managers for the offer.The dollar bonds of Adani Transmission, Adani Green Energy and Adani Electricity Mumbai were trading mixed.

Led by billionaire Gautam Adani, the dollar bonds of group companies had plunged after a U.S. short-seller Hindenburg Research, in a scathing report on Jan. 24, accused it of improper use of offshore tax havens and stock manipulation. The group denied all allegations.

However, India’s market regulator is looking into Hindenburg’s allegations as well as the group’s related party dealings following a Supreme Court directive.