Adani Group on Tuesday said the group prepaid share-backed financing of u20b97,374 crore (USD 902 million) ahead of its latest maturity in April 2025, in continuation of its promoters’ commitment to cut the overall leverage backed by Adani-listed company shares.
On the other hand, Adani Enterprises is finally out from NSE’s short-term additional surveillance measure (ASM), after being under the framework for a month. In a circular on Monday, NSE revealed that Adani Enterprises stock is excluded from the short-term ASM framework with effect from March 8, 2023.
Source: Stock Market Funda
With the repayment of the said u20b97,374 crores to various international banks and Indian financial institutions, the promoters of the flagship company, Adani Ports, will release 155 million shares, representing 11.8% of the promoters’ holding; Adani Enterprises’ promoters will release 31 million shares, representing 4 percent of promoters’ holding; Adani Transmission’s promoters will release 36 million shares, representing 4.5% of promoters’ holding while Adani Green Energy will release 11 million shares which comprised 1.2% of promoters’ holding.
Source: WION
Along with the repayments done earlier in the month of February, the conglomerate said Adani has prepaid $2,016 million of share-backed financing, which is consistent with promoters’ commitment to prepay all share-backed financing before March 31, 2023, according to a statement from Adani Group.
The stocks have been rising after the US boutique investment firm GQG Partners’ GQG.AX $1.87 billion investment in the Gautam Adani-led conglomerate on Thursday, after facing a sharp fall since January 24, when the US-based short-seller Hindenburg’s report was released.
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