The promoters of the Adani Group have prepaid ₹ 9,250 crores ($1.1 billion) of debt backed by shares on Monday, 19 months ahead of their maturity in September 2024. This prepayment will release the pledge from three companies — Adani Ports and SEZ, Adani Green Energy and Adani Transmission.
“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 $1,114 million ahead of its maturity of Sep 2024,” said the group’s spokesperson in a statement.
With the repayment of the amount, 168.27 million shares representing 12% of promoters’ holding will be released in Adani Ports and SEZ, 27.56 million shares representing 3% of promoters’ holding will be released in Adani Green Energy and 11.77 million shares representing 1.4% of promoters holding will be released in Adani Transmission.
As per the latest shareholding pattern,
| Company | Promoter Holding (%) | Pledged Promoter Promoter Holding to Holding (%) Be Released (%) |
| Adani Ports and SEZ | 65.13 | 17.31 12 |
| Adani Green Energy | 60.75 | 4.36 3 |
| Adani Transmission | 74.19 | 6.62 1.4 |
Most shares of the Adani Group companies were in the green, following the statement. Adani Enterprises Ltd (up 15.60%), Adani Transmission Ltd (up 5%), Adani Wilmar Ltd (up 4.99%), Adani Ports and Special Economic Zone Ltd (up 5.21%), Adani Green Energy Ltd (down 0.44%), ACC Ltd (up 1.04%), Adani Total Gas (down 5%), Adani Power Ltd (down 3.04%), and Ambuja Cements Ltd (down 0.37%), at 01:10 PM on Tuesday.
The shares of Adani Group took a beating after US-based short seller Hindenburg Research made a series of allegations, accusing the Group of fraudulent transactions and manipulation of the share price. Amid the volatility in the share price, the group had to call off its ₹ 20,000 crores FPO a day after it was fully subscribed, thanks to institutional investors.
Written by Simran Bafna
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
