Photo Source: ANI
Adani Group refutes news report regarding repayment of loans against shares
Ahmedabad (Gujarat), March 29, 2023(ANI): The Adani Group refuted the news report published by The Ken, a digital publication, which claimed that the conglomerate had not completed the repayment of USD 2.15 billion in share-backed debt.
According to the conglomerate, the claims in the media report were baseless and deliberately mischievous.
In a release on Tuesday evening, Adani reiterated that it had completed full prepayment of margin linked share backed financing, aggregating to USD 2.15 billion and all corresponding shares pledged have been released.
Adani Group also shared data on pledge positions for its various listed companies.
From December 31, 2022, to March 27, 2023, data showed its pledge position in Adani Green, Adani Ports, Adani Transmission, and Adani Enterprises declined substantially.
In continuation of the promoters' commitment to repay the promoter leverage, the Adani Group earlier this month completed the full prepayment of margin linked share backed financing aggregating to USD 2.15 billion, well before its committed timeline. (ANI)