Adani prepays INR 7,374 Cr for equity-backed financing

The group said this in a media release on Tuesday.

with repayment of 7,374 crore, various shares of the Adani-listed company will be issued to various international banks and Indian financial institutions. These include 155 million shares of Adani Ports and Special Economic Zone Ltd., representing 11.8% of the promoters’ holding, 31 million shares of Adani Enterprises Ltd., representing 4.0% of the promoters’ holding, 36 million shares of Adani Transmission Ltd. million shares, representing the promoters’ stake. 4.5% of the promoters’ stake, and 11 million shares of Adani Green Energy Limited, representing 1.2% of the promoters’ stake.

Adani group has paid in the last one month 11,000 crore debt to bring down the group’s leverage.

With the earlier repayment made in the month of February, Adani has prepaid share-backed financing of $2.016 billion, which is in line with the promoters’ commitment to prepay all share-backed financing before March 31, 2023, the release said. stated in.

The move comes at a time when the group conducts roadshows across the world to reassure investors that the company’s finances are under control amid falling share prices and regulatory scrutiny.

The company will hold meetings with fixed income investors from March 7 to 15 in Dubai, London and the US. Similar gatherings were held in Singapore and Hong Kong this week, according to one Bloomberg Report.