The Gautam Adani-owned conglomerate issued a statement on Sunday mentioning that it has prepaid a $500 million facility it had taken for Ambuja acquisition financing, adding that the payment came in continuation of promoter’s commitment to repay the leverage.
With respect to the same, the group quoted in its release that “This is in line with promoters’ commitment to increase equity contribution and promoters have now infused $2.6 billion out of total acquisition value of $6.6 billion for Ambuja and ACC”.
4 stocks of the Adani group namely Adani Power, Adani Green Energy, Adani Total Gas and Adani Transmission were locked in the 5 percent upper circuit today at Rs 215.10, Rs 716.80, Rs 997.05 and Rs 949.65 respectively.
Adani Enterprises Ltd surged nearly 3% from Rs 1,921 to Rs 1,985 in the opening trading hours but closed with a downfall of around 2 percent in comparison to the previous closing price of Rs 1,859.
All the above-mentioned moves come as the group strives hard to rebuild investor confidence and allay the concerns about its debt by pre-paying loans post witnessing the aftermath of the report by US short-seller Hindenburg Research on 24thJanuary.
Another update on the group is regarding LIC debt exposure in the stocks of the Adani group. Union Finance Minister Nirmala Sitharaman, today, shared about Life Insurance Corporation of India’s debt exposure to Adani group companies. As of 5th March 2023, the state-owned insurer’s debt exposure to the billionaire Gautam Adani-led port-to-power conglomerate fell marginally from ₹6,347 crores to ₹6,183 crore as of 31 December last year. The breakup of the same is mentioned in the below table:
| Company | Outstanding (as on 31.12.2022) | Outstanding (as on 5.3.2023) |
| Adani Ports and SEZ | 5,553.27 | 5,388.60 |
| Adani Power (Mundra) Ltd. | 266.46 | 266.46 |
| Adani Power Maharashtra Ltd.- Phase I | 81.6 | 81.6 |
| Adani Power Maharashtra Ltd.- Phase III | 254.87 | 254.87 |
| Raigarh Energy Generation Ltd | 45.44 | 45.44 |
| Raipur Energen Ltd. | 145.67 | 145.67 |
| Total | 6,347.32 | 6,182.64 |
Written by Amit Madnani
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