Adani Group's Comeback Plan Takes Shape With Debt Repayment
Mint Mumbai|June 06, 2023
Adani Group on Monday said it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller.
Adani Group's Comeback Plan Takes Shape With Debt Repayment

In a credit note released on Monday, Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another $700 million in loans taken for the acquisition of Ambuja Cement.

"The prepayment was done along with interest payment of $203 million," it added.

Further, the credit update states that the promoters completed the sale of shares in four listed group entities to GQG Partners, a leading global investment firm, for $1.87 billion (₹15,446 crore).

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