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Adani Group frees pledged shares worth ₹2,878 cr in Q3
Mint Mumbai
|January 20, 2024
The release of pledged shares can be used to repay debt, lowering its debt to equity ratio
- $3.7 bn The refinance deal with a consortium of foreign banks
- $1.11 bn The amount Adani Group paid off in loans
Infrastructure conglomerate Adani Group has released pledged shares worth ₹2,878 crore ($346.2 million) related to four of its companies during the December quarter, BSE data analyzed by Mint showed.
The group released a total 28.67 million pledged promoter shares across Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Energy Solutions Ltd.
Notably, the group has reduced its pledge positions related to ACC Ltd. and Ambuja Cements Ltd to zero, from 11.72% and 100%, respectively. This follows a $3.7-billion refinance deal with a consortium of foreign banks in October, which allowed Adani Group to repay its acquisition loan for ACC and Ambuja Cements, potentially lowering its borrowing costs.
Denne historien er fra January 20, 2024-utgaven av Mint Mumbai.
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