NSE Puts Three Adani Group Stocks Under Additional Surveillance
On Tuesday, the Adani Group said its promoters have prepaid debt worth Rs 7,374 crore or $902 million.
The National Stock Exchange has put Adani Enterprises Ltd., Adani Power Ltd. and Adani Wilmar Ltd. under short-term additional surveillance measures.
The exchange had said on Monday that it would remove Adani Enterprises from the short-term additional surveillance measure framework from Wednesday. It has now put it back under the framework with effect from Thursday.
Ambuja Cements Ltd. and Adani Ports and Special Economic Zone Ltd. were removed from the short-term additional surveillance measure framework on Feb. 13.
On Tuesday, the Adani Group said its promoters have prepaid debt worth Rs 7,374 crore, or $902 million, backed by shares of four group companies, ahead of its latest maturity in April 2025.
A total of 23.3 crore shares will be released as part of the latest prepayment, the apples-to-airports conglomerate said. The prepayment will be against financing from "various international banks and Indian financial institutions".
Shares of all Adani Group companies ended with gains on Wednesday as the benchmark indices ended higher.
Adani Enterprises gained 2.86% to Rs 2,039.65 per share, while Adani Power rose 4.97% to Rs 186.75 per share, and Adani Wilmar rose 5% to Rs 461.15 per share at closing. The benchmark Nifty gained 0.24%.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.