Adani promoters prepay Rs 9,250 crore loans to release pledged shares

The promoters of Adani conglomerate have prepaid $1.114 billion before time to release some pledged shares in Adani Ports & Special Economic Zone, Adani Green Energy and Adani Transmission.

The group said, “in light of recent market volatility and in continuation of the promoters’ commitment to reduce the overall promoter leverage backed by Adani listed company shares, we are pleased to inform that promoters have paid the amounts to prepay $1,114 million ahead of its maturity of Sep 2024”.

After this prepayment, the stake pledged come down to 5.31% in Adani Ports from 17.31% in December 2022. 

With this prepayment of $1.114 billion, about 168 million shares (12% stake) of the promoters’ holding in Adani Ports, 27.56 million shares (3% stake) in Adani Green Energy and 11.77 million shares (1.4% stake) in Adani Transmission will be released. The share-backed facility will mature in Sept 2024.