Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, on Thursday scrapped a USD 600 million bond issue after its promoter was charged in an alleged bribery case in the US.

Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay over USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.

The issue was over-subscribed three times. But following the allegations, the issue was scrapped.

"Our Board members, Gautam Adani and Sagar Adani, have been the subject of a criminal indictment and a civil complaint, respectively, from the US Department of Justice and the US Securities and Exchange Commission in the US District Court for the Eastern District of New York.