Adani in talks to prepay loans on shares, denies report on capex cut
India’s Adani Group is in talks to prepay all loans backed by pledged shares, a spokesperson told Reuters on Monday, while denying media reports that said the conglomerate was planning to cut back its capital spending.
Adani Group plans to trim its capital spending while providing more collateral in the form of stock pledges to lenders, Indian newspaper Mint said, citing people close to the development.
“False report, on the contrary Adani Group is moving to prepay all LAS (Loans Against Shares) finance,” a spokesperson for the group said in an emailed statement to Reuters.
