Adani taps banks for $750 mn
Financial Express Mumbai|April 12, 2024
ADANI GROUP IS in talks with banks to raise nearly $750 million or ₹6,200 crore to pay for the conversion of warrants allotted by Ambuja Cements. The deadline to make the payment ends on April 18.
SACHIN KUMAR

Ambuja Cements had allotted 477.4 million convertible warrants to Harmonia Trade and Investment, a part of the Adani family, in October 2022. The Adani family had made an upfront payment of ₹5,000 crore while the remaining ₹15,000 crore was to be paid within the next 18 months.

Of this, the family has paid ₹6,661 crore in March this year.

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