Jobaaj Stories
Days after the Adani Group prepaid loans worth $902 million due in April 2025, the Group has announced another repayment, this time worth a staggering $2.65 billion!
Of the overall prepayment, $2.15 billion was linked to share-backed financing due on 31st March. With this, the Group has fully prepaid the margin-linked share-backed financing.
The remaining $500 billion that was prepaid was for the financing facility the Group had taken to acquire Ambuja Cements and ACC in a $10.5 billion deal. Furthermore, the promoters have also infused $2.6 billion into Ambuja Cements and ACC.
The Adani Group has completed the $2.65 billion prepayment deal within a record time of 6 weeks, seen as a testament to the company's exceptional liquidity management skills.
These consecutive prepayments of loans are being done in a bid to appease investors and parry the excessive leverage which the company had. Moreover, the reduction of share-backed financing has given investors a breath of relief unlike what Hindenburg had done in its report.
Investors of the Adani Group cheered the move as Adani stocks were in focus today also. Adani Enterprises was trading at 1.15%, while Adani Power and Adani Green Energy were up 5%.
- Aman Agarwal
