Barclays Plc, Deutsche Bank AG and Standard Chartered Plc are in talks to lend between $600 million and $750 million collectively to Adani Group, as part of discussions to refinance the debt taken to fund its purchase of Ambuja Cements Ltd., according to people familiar with the matter.

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The loan would be syndicated, said the people, who asked not to be named as the matter is private. Indian billionaire Gautam Adani’s conglomerate is also in discussions with other lenders, as it seeks to refinance as much as $3.8 billion of a loan facility taken for its Ambuja acquisition.

If executed, the loan of as much as $750 million would be part of that broader refinancing. The talks haven’t yet concluded, and the amounts could still change.

Adani Group, Barclays, Deutsche and Standard Chartered all declined to comment.

The discussions take place six months after US short-seller Hindenburg accused the Adani Group of widespread corporate malfeasance in January, prompting a surge in dollar borrowing costs. Adani has denied the allegations, and the company’s cost of capital has dropped again.