Adani Group frees pledged shares worth ₹2,878 cr in Q3
Mint Mumbai|January 20, 2024
The release of pledged shares can be used to repay debt, lowering its debt to equity ratio
Mayur Bhalerao
Adani Group frees pledged shares worth ₹2,878 cr in Q3
  • $3.7 bn The refinance deal with a consortium of foreign banks
  • $1.11 bn The amount Adani Group paid off in loans

Infrastructure conglomerate Adani Group has released pledged shares worth ₹2,878 crore ($346.2 million) related to four of its companies during the December quarter, BSE data analyzed by Mint showed.

The group released a total 28.67 million pledged promoter shares across Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Energy Solutions Ltd.

Notably, the group has reduced its pledge positions related to ACC Ltd. and Ambuja Cements Ltd to zero, from 11.72% and 100%, respectively. This follows a $3.7-billion refinance deal with a consortium of foreign banks in October, which allowed Adani Group to repay its acquisition loan for ACC and Ambuja Cements, potentially lowering its borrowing costs.

Denne historien er fra January 20, 2024-utgaven av Mint Mumbai.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra January 20, 2024-utgaven av Mint Mumbai.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA MINT MUMBAISe alt
Retirement Ready? Here Are Some Essential Tips For Financial Security
Mint Mumbai

Retirement Ready? Here Are Some Essential Tips For Financial Security

57% of urban Indians worry their retirement savings will deplete within a decade

time-read
3 mins  |
November 28, 2024
PAN 2.0 must aim to end fraud via impersonation
Mint Mumbai

PAN 2.0 must aim to end fraud via impersonation

It's welcome that tax authorities are simplifying processes for holders of permanent account numbers. The tech overhaul should also ensure sufficient checks to minimize PAN-theft fraud

time-read
2 mins  |
November 28, 2024
Capturing the vintage romance of Havana
Mint Mumbai

Capturing the vintage romance of Havana

The photographs focus on the resilience of Cubans—of keeping music, dance, and laughter alive in the face of various challenges

time-read
3 mins  |
November 28, 2024
A treasure trove of recipes from Jahangir's royal kitchen
Mint Mumbai

A treasure trove of recipes from Jahangir's royal kitchen

Food historian Salma Yusuf Husain has translated a 17th century Persian manuscript with 120 rare recipes

time-read
2 mins  |
November 28, 2024
Eye contact at meetings must get the attention it needs
Mint Mumbai

Eye contact at meetings must get the attention it needs

Remote work is here to stay but virtual meeting platforms have not addressed their key point of inferiority

time-read
3 mins  |
November 28, 2024
Economic advice for Trump and Powell: First, do no harm
Mint Mumbai

Economic advice for Trump and Powell: First, do no harm

Policy moves should help sustain business dynamism in America

time-read
3 mins  |
November 28, 2024
Internal audit: AI will transform it by staying vigilant in real time
Mint Mumbai

Internal audit: AI will transform it by staying vigilant in real time

Embracing tools of artificial intelligence will enable IA to play a vastly enhanced role in delivering value to organizations

time-read
3 mins  |
November 28, 2024
Mint Mumbai

We should fix the business of opinion polling in India

Pollsters need self-regulatory mechanisms that can set standards and ensure transparency

time-read
3 mins  |
November 28, 2024
Resolving disputes over public procurement: Let's aim higher
Mint Mumbai

Resolving disputes over public procurement: Let's aim higher

It has been a pivotal year for reforms but India needs more to vie for leadership in dispute resolution

time-read
3 mins  |
November 28, 2024
Mint Mumbai

Are multi-asset funds a good option amid the market rally?

MAAFs are structured to invest in a mix of asset classes, offering diversification benefits

time-read
4 mins  |
November 28, 2024