Adani prepays $1.14 bn for release of pledged shares
The Morning Standard|February 07, 2023
IN a bid to salvage investor confidence amid huge market value erosion, billionaire Gautam Adani and family have prepaid $1.1 billion worth of loans that were taken by pledging shares of Adani group firms. The group had time till September 2024 to repay the loans.
ARSHAD KHAN
Adani prepays $1.14 bn for release of pledged shares

“In light of recent market volatility and in continuation of the promoters’ commitment to reduce the overall promoter leverage backed by Adani shares, we are pleased to inform that promoters have posted the amounts to prepay $1,114 million ahead of maturity of September 2024,” a company statement read.

This story is from the February 07, 2023 edition of The Morning Standard.

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This story is from the February 07, 2023 edition of The Morning Standard.

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