Promoters across Adani Group companies have prepaid $1.1 billion, or about Rs 9,000 crore, in borrowings ahead of its maturity in September 2024.
The prepayment has been made in light of "recent market volatility and in continuation of the promoters' commitment to reduce the overall promoter leverage backed by Adani listed company shares," the conglomerate said in a company statement.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
About 16.8 crore shares in Adani Ports & Special Economic Zone Ltd. (12% of promoters' shareholding), 2.75 crore shares in Adani Green Energy Ltd. (3%), and 1.17 crore shares in Adani Transmission (1.4%) will be released as part of this prepayment.
"This is in continuation of the promoters' assurance to prepay all share-backed financing," it added.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.