Adani Prepays Rs 9184 Crore Loan

Adani Prepays Loan worth Rs 9184 Crore – Adani group chairman and billionaire Gautam Adani has prepaid Rs 9184 Crore or $1.11 billion in loans against the pledged shares. These loans are prepaid ahead of maturity of September 2024 in a move which is aimed at restoring investor confidence and easing the selling pressure in group stocks. The pledged shares which is going to be released are Adani Transmission Ltd, Adani Ports and Special Economic Zone Ltd and Adani Green Energy Ltd. For more business news click here

The following shares of Adani shall be released:

* Adani Green Energy: 27.56 million shares, representing 3% of promoters’ holding

* Adani Ports: 168.27 million shares, representing 12% of promoters’ holding

* Adani Transmission: 11.77 million shares, representing 1.4% of promoters’ holding

Adani Ports has fallen 28%, Adani Transmission and Adani Green Energy by 54% each since US short seller Hindenburg Research’s report alleging stock manipulation.