In a bid to boost market confidence in the wake of their share rout and pre-empt any move by the lenders, the Adani Group promoters Monday announced prepayment of $1.114 billion (around Rs 9,215 crore) to release pledged shares in three group companies: Adani Ports & Special Economic Zone Ltd, Adani Green Energy Ltd and Adani Transmission Ltd.
The promoters prepaid the amount to lenders (banks and finance companies) ahead of the maturity date of September 2024 of loans taken against the shares pledged by the three Adani Group entities.
“In light of recent market volatility and in continuation of the promoters’ commitment to reduce the overall promoter leverage backed by Adani listed company shares,
