Gautam Adani likely to pledge shares to boost confidence: Report

The move would require the lenders to release some shares of Adani group companies that were pledged as collateral, Bloomberg A person with knowledge of the matter has given the news.

As per reports, the group has not faced margin calls on these pledges and is actively seeking prepayments.

Read also: Adani Enterprises, Adani Ports, Ambuja Cement under ASM framework on NSE

Bloomberg reported that the main priority is to address any concerns about margin calls and that Adani executives will speak to investors in the coming days and make all payments on time.

Trading executives at Goldman Sachs said on an investor call on Thursday that it was the firm’s view that Adani’s debt had hit a floor in the near term and the bonds of Adani Ports and Special Economic Zone Ltd were interesting given the value of the company’s existing assets. are done, Bloomberg said a separate report, citing people with knowledge of the matter.

Goldman Traders characterized Adani Ports’ debt as being well capitalized with cash on hand, the report said, adding that they expected the entity to be able to refinance its bonds.

Adani Group and Goldman Sachs did not immediately respond. reuters Request for comment.

Reuters had earlier reported that Adani Entities made scheduled coupon payments on outstanding US dollar-denominated bonds on Thursday, adding that it plans to issue a credit report by Friday on concerns raised by Hindenburg Research about its liquidity. Will remove the worries.

Since the Hindenburg report on January 24, Adani group companies have lost almost half their combined market value. Adani Enterprises – described as an incubator of Adani’s businesses – has lost $26 billion in market capitalisation.

Adani’s market loss exceeded $ 100 billion on Thursday.

The text of this story is published from a wire agency feed without any modification. Only the headline has been changed.