The under-fire Adani Group reportedly paid back at least Rs 24,610 crore ($3 billion) in the March quarter to assuage concerned investors and creditors in the wake of the Hindenburg report.
According to a report by Mint, which cited regulatory filings and insiders, the embattled conglomerate spent at least Rs 20,835 crore ($2.54 billion) in the March quarter to cut promoters’ pledges in four Adani Group companies, namely, Adani Enterprises, Adani Ports and SEZ, Adani Transmission, and Adani Green Energy.
In addition, the publication reported that the conglomerate repaid at least Rs 3,650 crore worth of commercial papers that had been sold to SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, and HDFC Mutual Fund in the March quarter.
