NE BUSINESS BUREAU
AHMEDABAD, MAR 7
The Adani Group on Tuesday said it prepaid share-backed financing of Rs 7,374 crore ($901.16 million) to various international banks and Indian financial institutions, as part of its promoters’ commitment to cut overall leverage backed by shares of the Group’s listed companies.
- Adani Group to release 11.8% of promoters’ holding in Adani Ports, 4% holding in Adani Enterprises, 4.5% in Adani Transmission, 1.2% holding in Adani Green Energy
- Along with the repayments done earlier in the month of February, Adani has prepaid USD 2,016 million of share backed financing
The development comes at a time when the ports-to-power conglomerate lined up more road shows to shore up investor confidence days after it raised Rs 15,446 crore from US-based GOG Partners.
“In continuation of promoters’ commitment to reduce the overall promoter leverage backed by Adani Listed Company shares, we would like to inform that we have prepaid share backed financing of Rs 7,374 crs (USD 902 Million) ahead of its latest maturity in April 2025,” a statement said.
With the repayment of the said Rs 7,374 Crs to various International Banks and Indian financial institutions, the following Adani Listed Company shares shall be released –
- Adani Ports & Special Economic Zone Ltd: 155 million shares, representing 11.8% of the promoters’ holding
- Adani Enterprises Limited: 31 million shares, representing 4.0% of promoters’ holding
- Adani Transmission Limited: 36 million shares, representing 4.5% of promoters’ holding
- Adani Green Energy Limited: 11 million shares, representing 1.2% of promoters’ holding
Along with the repayments done earlier in the month of February, Adani has prepaid USD 2,016 million of share backed financing, which is consistent with promoters’ commitment to prepay all share backed financing before 31 March 2023..
