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Adani Group promoters to prepay USD 1.11 billion-loans to release pledged shares
Ahmedabad: Adani Group on Monday announced that its promoters will prepay USD 1.114 billion for the release of share-backed loans ahead of maturity in September 2024.
This, the group said, is in continuation of the promoters' assurance to prepay all share-backed financing and also is in light of recent market volatility. With the repayment of the mentioned amount, the following Adani Listed Company shares shall be released in due course:
Adani Ports and Special Economic Zone Ltd: 168.27 million shares, representing 12 per cent of the promoters' holding
Adani Green Energy Limited: 27.56 million shares, representing 3 per cent of promoters' holding
Adani Transmission Limited: 11.77 million shares, representing 1.4 per cent of promoters' holding.
Since January 24 following the Hindenburg Research report which accused the Adani Goup of " brazen stock manipulation and accounting fraud" the Group companies shares have been has facing intense selling pressure. (ANI)