Even as shares of most of Adani group companies continue to plummet following a report by Hindenburg Research, the conglomerate on Monday announced that promoters will pre-pay USD 1,114 million (1.1 billion) for the release of pledged shares of its firms ahead of the maturity in September 2024.
The step, the group said, was taken “in light of the recent market volatility”. These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission.
“This is in continuation of promoters’ assurance to pre-pay all share-backed financing,” it said.
