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Adani Group has paid $ 2.15 billion margin linked share backed financing (money taken in lieu of stock) to the promoters. The group had taken till March 31, 2023 to pay it, but the payment was made ahead of schedule. The group has taken several steps in the recent past to win back the confidence of investors. This step of the company is being linked to the same.
Also paid related to acquisition of Ambuja
Adani Group said that it has also repaid the $500 million finance it had taken for the Ambuja Cement acquisition. In a statement issued by the group, it was said that this has been done to fulfill the promise of the promoters to increase the equity contribution in the company.
Let us tell you that Adani Group had bought Holcim Group’s entire stake in Ambuja Cement and ACC in September last year. The deal was done by Adani Group for $10.5 billion. Holcim sold its 63.19% stake in Ambuja Cement and 54.53% in ACC.
Trying to win the trust of investors by repaying the loan
The group is now steadily reducing debt to regain investor confidence. In fact, since the report of American short seller Hindenburg Research came out on January 24, shares of Adani Group have declined significantly. Hindenburg accused Adani Group companies of stock manipulation and accounting fraud.
Adani Group repaid share-backed loan of Rs 7374 crore
Adani Group has prepaid a share-backed loan of Rs 7374 crore. The group had informed about this on Tuesday. The Adani Group is trying to win back investor confidence by allaying concerns about its credit profile.
The promoters of Adani Enterprises will release 3.1 crore shares or 4% stake, while the promoters of Adani Ports will release 15.5 crore shares or 11.8% stake, the group said. Promoters of Adani Green Energy and Adani Transmission will release 1.2% and 4.5% stake. Earlier in February, the group had pre-paid a loan of $1.11 billion.
5 out of 10 shares of Adani Group declined on Friday
On March 10, 5 out of 10 shares of Adani Group saw a boom. Shares of Adani Enterprises fell by more than 3%. NDTV fell 5.00%, Adani Wilmar 4.93%, Ambuja Cement 1.74% and ACC 0.81%. Adani Ports gained 0.25%. Shares of Adani Transmission, Power, Total Gas and Green Energy saw a gain of 5-5% each.
Also read Bhaskar’s special news related to Adani Group …
1. Adani Group said- Hindenburg report attack on India: In reply of 413 pages said- Allegations are false
The Gautam Adani group has termed the Hindenburg report as a conspiracy attack on India. The group issued a 413-page reply. It is written that all the allegations leveled against Adani Group are false. The group also said that the real purpose of this report is to create a new market for the economic benefit of American companies. Read full news…
2. Heavy loss to LIC due to falling shares of Adani Group: LIC incurred a loss of Rs 18,646 crore in 2 days
After the Hindenburg report came out, the investors of Adani Group’s stocks have suffered huge losses in the last 2 trading sessions. Country’s largest institutional investor ‘Life Insurance Corporation of India’ (LIC) is also one of those affected investors.Read the full news here…
3. Adani Group’s response to Hindenburg’s report: American short seller’s allegations were told wrong, Adani said – report has no factual basis
Adani Enterprises made a presentation on January 27 (Friday) covering the Adani Group’s response to the Hindenburg Report. Whose title was kept ‘Myths of Short Seller’. In this, Adani Group has denied all the allegations of American short seller Hindenburg. Read the full news here…
4. Loss of 1.32 lakh crores to Adani from a report: More than 3 lakh crores of investors drowned; Reached number three to seventh among the rich
After the report of debt on companies, the period of decline in the shares of Adani Group companies continues. Shares of Adani Total Gas and Adani Transmission have declined by 20-20%. This phase of decline started when forensic financial research firm Hindenburg in its report accused Adani Group of fraud. This has had a big impact on the Adani Group. Read the full news here…