Adani group prepays Rs 7,374 crore share-backed financing ahead of maturity; releases shares in 4 companies

Adani group has prepaid share-backed financing of Rs 7,374 crore ahead of maturity in April 2025. The Gautam Adani-led group has now prepaid over $2 billion of share-backed financing, including the repayments done in February. Now the shares of Adani Ports & Special Economic Zone, Adani Enterprises, Adani Transmission and Adani Green Energy will be released as follows:

Adani Ports & Special Economic Zone Ltd – 155 million shares, representing 11.8% of the promoters’ holding

Adani Enterprises Ltd – 31 million shares, representing 4.0% of promoters’ holding 

Also Read

Pharma sector can be a dark horse

PFC Q4 net profit rises 42 per cent to Rs 6,128.63 crore; FY23 profit at Rs 21,179 crore 

India Inc dividend payout soars 26%

IRCTC posts profit jump of 30.4% for Q4FY23 at Rs 278.80 crore, announces 100% final dividend

Adani Transmission Ltd – 36 million shares, representing 4.5% of promoters’ holding 

Adani Green Energy Ltd – 11 million shares, representing 1.2% of promoters’ holding 

Since Hindenburg accused the Adani family of fraud, the group has been trying hard to regain investors’ trust. The first step that the group took was cancelling the fully subscribed FPO of Adani Enterprises and returning money to the investors. The group’s stocks fell up to 80% in just a few days after the report got published, with Adani group losing over Rs 10 lakh crore in market capitalisation.

Earlier this month, US investment firm GQG purchased stakes worth $1.87 billion in four Adani group firms. GQG is one of the world’s leading Global and Emerging Markets investors, which manages more than $92 billion in client assets. Meanwhile, four Adani stocks, Adani Enterprises Adani Green, Adani Transmission and Adani Total Gas have been excluded from Nifty Alpha 50 following a review of the strategy indices. The stocks will exit the index with effect from March 1.