Adani Group Update: Adani Group has prematurely repaid its excellent $ 2.65 billion mortgage. The group has already repaid the mortgage beneath the Prepayment Program earlier than the March 31 deadline. So that it may possibly assist in profitable the belief of the traders. In the Hindenberg Research Report, questions have been raised concerning the massive debt owed by the Adani group.

In its assertion, Adani Group stated that it repaid the mortgage of $2.15 billion which was taken by pledging the shares. Apart from this, the mortgage of $ 500 million taken by the group for the acquisition of Ambuja Cement has additionally been repaid.

In a credit score be aware issued on June 5, the Adani group stated that the group has made full prepayment of $2.15 billion mortgage, which was taken by retaining the shares of the group’s listed corporations as mortgage. Also, a mortgage of $700 million was taken for the acquisition of Ambuja Cement. Adani Group advised that $ 203 million has been paid as curiosity. In the credit score replace, the group has knowledgeable that the method of promoting the shares of the 4 listed teams to GQG Partners for $1.87 billion has been accomplished.

The Adani group stated in a credit score replace that the method of lowering debt forward of time on this unstable interval proves its sturdy money administration. After the Hindenburg Research report got here out on January 24, 2023, the market cap of 10 corporations listed on the inventory alternate of Adani Group had decreased by greater than Rs 12 lakh crore. But after GQG Partners purchased a stake within the firm, the group’s shares gained energy.

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