Adani Group prepays debt worth Rs 7,374 cr

The Adani Group on Tuesday said debts, backed by the shares of listed companies, have been prepaid to the tune of Rs 7,374 crore (approx $902 million). The embattled group said the debts were paid ahead of the latest maturity in April 2025. The group said with the repayment to various international banks and Indian financial institutions, the following Adani listed company shares shall be released – 155 million shares of Adani Ports & Special Economic Zone Ltd, representing 11.8 per cent of the promoters’ holding, 31 million shares of Adani Enterprises Ltd (4 per cent of promoters’ holding), 36 million shares of Adani Transmission Ltd (4.5 per cent of promoters’ holding), and 11 million shares of Adani Green Energy Ltd (1.2 per cent of promoters’ holding. Along with the repayments done earlier in the month of February, Adani has prepaid $2,016 million of share-backed financing, which is consistent with promoters’ commitment to prepay all share-backed financing before March 31, 2023.