Most of the Adani Group shares advanced in early trading session on Wednesday, even as Sensex, Nifty declined by around 0.5%. Shares of group flagship firm Adani Enterprises rose over 2% and was the top gainer in the Nifty 50, while Adani Ports and Special Economic Zone (APSEZ) gained over a per cent on the BSE. Adani Power, Adani Transmission, Adani Green Energy, Adani Total Gas hit upper circuit level of 5% each.
Adani Group The group on Tuesday said about the prepaid share-backed financing 7,374 crore (USD 902 million) ahead of its latest maturity in April 2025, while continuing with its promoters’ commitment to cut overall leverage backed by shares of the Adani-listed company.
On the other hand, Adani Enterprises has finally come out of NSE’s short-term Additional Monitoring Measures (ASM) under the one-month framework. In a circular on Monday, NSE revealed that Adani Enterprises stock has been excluded from the short-term ASM framework with effect from March 8, 2023.
with repayment of the said 7,374 crore to various international banks and Indian financial institutions, the promoters of Adani Ports, the lead company, will issue 155 million shares, representing 11.8% promoters’ stake; Adani Enterprises‘The promoters will issue 31 million shares, representing 4 per cent of the promoters’ holding; The promoters of Adani Transmission will issue 36 million shares, representing 4.5% of the promoters’ stake, while Adani Green Energy will issue 11 million shares, comprising 1.2% of the promoters’ stake.
Along with the repayments made earlier in the month of February, the group said that Adani has prepaid $2,016 million of share-backed financing, which is the promoters’ commitment to prepay all share-backed financing before March 31, 2023. according to a statement from the Adani Group.
Shares have rallied after US boutique investment firm GQG Partners invested $1.87 billion in GQG.AX. Gautam AdaniAfter suffering a sharp decline since January 24, when the report by US-based short-seller Hindenburg was released, the group headed for Thursday.
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