NEW DELHI: Embattled Adani Group on Sunday said it has repaid loans aggregating $2.65 billion to complete a prepayment programme ahead of the March 31 deadline to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller.
In a statement, 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.
The announcement comes within days of the group saying it has pre-paid Rs 7,374 crore (about $902 billion) loans that were taken pledging shares in four group companies. This has now been scaled up to $2.15 billion.
While Adani group has not detailed the source of money for repayment of loans, these came within days of the promoters selling minority stakes in four listed companies to US-based GQG Partners for Rs 15,446 crore.
This story is from the March 13, 2023 edition of Millennium Post Delhi.
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This story is from the March 13, 2023 edition of Millennium Post Delhi.
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