Adani Group repays $2.65 billion loans to complete prepayment programme
1 year, 6 months ago

Adani Group repays $2.65 billion loans to complete prepayment programme

Live Mint  

The Adani Group has said that it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut the overall leverage in an attempt to win back investor trust after US short seller Hindenburg levelled allegations of stock price manipulation against the port-to-energy conglomerate. In a statement, the Adani group said it has repaid $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another $500 million in loans taken for the acquisition of Ambuja Cement. In a Credit Note released on June 5, Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another $700 million in loans taken for the acquisition of Ambuja Cement. The 10 listed Adani Group companies, which together had lost about $135 billion in market value following the report, have seen stock prices rise in successive trading sessions ever since.

History of this topic

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