Embattled Adani Group repays share-backed financing worth Rs 7,374 crore ...Middle East

Business Standard - Economy

Embattled Adani Group on Tuesday said it has repaid share-based financing of Rs 7,374 crore (over USD 900 million) and will prepay all such remaining loans by the end of the month, as it looks to allay concerns over leverage and debt to win over investors. The repayment will release pledge on shares of promoters in four group companies, it said in a statement, adding that together with repayments done earlier, the group has prepaid USD 2.016 billion of share-backed financing. In September last year, CreditSights, a Fitch Group unit, said the group was "deeply overleveraged" as it used debt to expand an empire centred on ports and coal mining to include airports, data centres and cement as we

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Last updated : 07 March 2023 clock 03:00 PM

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Embattled Adani Group repays share-backed financing worth Rs 7,374 crore ...Middle East

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