MUMBAI, Feb 14 Reuters India39;s Adani Green Energy is likely to raise 500 million by issuing dollar bonds in March, two officials aware of the plans said, making it the first Adani group company to return to the overseas bond market in a year.

The company is doing the groundwork and talking to investors to get a sense on pricing, said a foreign banker, who is a part of the discussions.

Once there39;s more clarity on pricing and demand, they will finalise the details and tap the market, the banker said.

Part of Indian billionaire Gautam Adani39;s portstopower conglomerate, Adani Green is likely to use some of the proceeds from the proposed bond issue to refinance existing debt that will mature this year, the officials said.

Both the officials and the banker spoke on condition of anonymity as they are not authorised to speak to the media.

Adani Group did not respond to Reuters39; email seeking comment.

A report by U.S. short seller Hindenburg Research in January last year had led to a selloff in stocks and overseas listed bonds of Adani group companies, forcing them to retreat from the foreign currency bond market and buyback 315 million of listed overseas debt securities.

Since then, most of the group39;s foreign bonds are back above the levels they traded at before the Hindenburg report, giving the company comfort to look at a fresh issue of dollar bonds.

Adani Green Energy conducted nondeal roadshows in January and reached out to investors in Hong Kong and…