Adani Group repays $2.15 billion loan ahead of deadline

The Adani Group on Sunday said it has repaid USD 2.65 billion in debt to meet a prepayment schedule before the March 31 deadline to win back investor confidence. Adani Group's shares have seen huge fluctuations since an adverse report by American firm Hindenburg Research came out on January 24.

Adani Group said it has repaid a loan of USD 2.15 billion that was taken by pledging shares in listed firms of the group and also repaid USD 500 million of the loans taken for the acquisition of Ambuja Cements. This statement from the group has come after the recent announcement in which it told that it has repaid the loan of Rs 7,374 crore taken by pledging shares in four companies of the group. It has now been increased to $2.15 billion.

While Adani Group did not disclose the source of money to repay the loan, it comes within days of promoters selling minority stake in four listed companies to US-based GQG Partners for Rs 15,446 crore.