Adani Group Promoters To Prepay $1.1 Billion Loan

With the repayment of such amount, the shares of Adani listed company shall be released in due course, said a company statement

learn more about Shrabona Ghosh

By Shrabona Ghosh


Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

In light of recent market volatility, promoters of Adani Group have posted the amounts to prepay $1,114 million ahead of its maturity in September 2024.

"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 posted the amounts to prepay USD1,114 million ahead of its maturity in September 2024," said the company's spokesperson in a statement.

With the repayment of such amount, the shares of these Adani listed company shall be released in due course, Adani Ports & Special Economic Zone Ltd to release 168.27 million shares, representing 12 per cent of the promoters' holding. Adani Green Energy Limited to release 27.56 million shares, representing 3 per cent of promoters' holding and Adani Transmission Limited wil release 11.77 million shares, representing 1.4 per cent of promoters' holding.

Adani Group is in talks to prepay all loans backed by pledged shares, a spokesperson told Reuters on Monday, while denying media reports that said the conglomerate was planning to cut back its capital spending. According to a report by Mint, Adani Group plans to trim its capital spending while providing more collateral in the form of stock pledges to lenders. "False report, on the contrary Adani Group is moving to prepay all LAS (Loans Against Shares) finance," the spokesperson told Reuters.

On Sunday, finance minister Nirmala Sitharaman dismissed charges of the government favoring the Adani Group. She said, "Everything was awarded through open tender." She also accused the opposition of hypocrisy by pointing out that their governments in states have handed over land to the same conglomerate to build ports and other projects. "We have not given anything. Let me be absolutely clear, any project under Prime Minister Narendra Modi goes through the open tender process (of) global tendering," the minister told Times Now.

Shrabona Ghosh


A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 

Related Topics

News and Trends

Scam 2023: Inside The World Startup Convention Disaster

To many, the speaker line up for the World Startup Convention (WSC) which had been scheduled for March 24-26, 2023 at Greater Noida may have seemed too good to be true.


Why Embracing Your Unique Strengths and Talents Will Lead to Success

By identifying and developing one's strengths, aligning with passions, cultivating a growth mindset and positively impacting the world, individuals can unlock their full potential and create a life of abundance, passion and fulfillment.

News and Trends

Why Government May Ban Related Party Sales Of E-commerce, Food Delivery Startups

"E-commerce companies are permitted to merely operate a pure-play marketplace i.e. a bridge between the buyer and seller and not sell any goods, even their own products on their platforms," said Praveen Khandelwal, secretary general, CAlT

Starting a Business

90% of Online Businesses Fail in Just 4 Months. You Can Avoid the Same Fate By Using These Strategies.

It's not catastrophizing when we think about potential failure; it's in fact a chance for any business to precisely see any outcome and prepare in advance.


5 Steps to Communicate Like a Boss

Here are five tips leaders can use to improve their communication skills.


5 Insider Tips for Improving Your Confidence as a Public Speaker

Presenting publicly can be a nerve-wracking experience. Here are five key tips to help you boost your confidence.