Amid the ongoing row over Hindenburg-Adani row, promoters will prepay loans against pledged shares to the tune of $1.1 billion in light of recent market volatility.
In a statement, Adani Enterprises said, In light of recent market volatility and in continuation of promoters’ commitment to reduce overall promoter leverage backed by Adani Listed Company shares, promoters have posted the amounts to prepay USD 1,114 million ahead of its maturity of Sep 2024.
The company further said that 168.27 million shares of Adani Ports and Special Economic Zone, 27.56 million shares of Adani Green Energy Limited and 11.77 million shares of Adani Transmission Limited will be released in due course, following the prepayments by promoters.
This is in continuation of promoters’ assurance to prepay all share-backed financing, the company said.