Adani Group repays $500 million bridge loan

9 Mar 2023 , 08:10 AM

According to news reports, The Adani Group has paid back a $500 million bridge loan that was due on Thursday, adding to a series of other payments as the Indian conglomerate attempts to regain public trust in its financial stability, following Hindenburg report.

According to the reports, the money was released to lenders on Tuesday. According to research from Hindenburg Research published in late January that caused Adani assets to plummet, several banks have resisted refinancing the loan.

Since then, the empire founded by Gautam Adani has prepaid roughly $2 billion in loans secured by shares, timely repaid bonds, and secured a further $1.9 billion investment from renowned investor Rajiv Jain of GQG Partners.

This has assisted in reducing losses in the group’s market value from as high as $153 billion to approximately $124 billion.

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