Adani Group News: Adani Group will make premature payment of $ 111.4 million to redeem pledged shares


New Delhi: Adani Group on Monday mentioned that the promoters pays $1114 million for untimely redemption of pledged shares with lenders. Its maturity is to be in September 2024. The group mentioned in a press release on Monday that these pledged shares belong to Adani Ports and Particular Financial Zones, Adani Green Power and Adani Transmission. “The move is in line with the promoters’ assurance of prepayment in all cases of financing arranged by pledging shares,” in keeping with the assertion.

The assertion assumes significance within the wake of allegations of alleged fraud and manipulation of shares towards the Adani group in a report by American monetary analysis firm Hindenburg Research. After this report, there was an enormous fall within the shares of the businesses of the group.

In keeping with the assertion, in view of the latest volatility out there and the dedication of the promoters to scale back the debt taken towards the shares of listed corporations, we’re happy to tell that the promoters have prematurely subscribed $ 111.4 million. determined to pay. By the best way, its maturity interval was of September 2024.

Shares of Adani Group corporations proceed to fall, Adani Enterprises’ inventory will proceed to carry 9.5% damaged promoters

In keeping with the report of reports company Bhasha, the untimely cost of Rs 111.4 crore will convey again 16.827 crore shares of Adani Ports and Particular Financial Zones, which is equal to 12 per cent stake of the promoters. Within the case of Adani Green, 2.756 crore shares ie three per cent stake of the promoters shall be issued. On the similar time, 1.177 crore shares of Adani Transmission shall be issued. That is equal to 1.4 per cent stake of the promoters.

Opposition uproar in Parliament

The opposition’s uproar continues in Parliament on the Adani Group matter. As a result of uproar by the opposition, the proceedings of Lok Sabha and Rajya Sabha have been adjourned until 2 pm on Monday. Together with this, the opposition mentioned the widespread technique on Monday. Leaders of a number of opposition events, together with the Congress, on Monday mentioned their joint technique in Parliament and demonstrated in entrance of the statue of Mahatma Gandhi within the premises relating to the case associated to the allegations leveled by ‘Hindenburg Research’ towards the Adani Group and another topics. . These protesting leaders had additionally carried an enormous banner, on which it was written ‘Adani Scandal or JPC investigation or Supreme Court docket-monitored investigation’.

Click Here To Join Our Telegram Channel

You probably have any considerations or complaints relating to this text, please tell us and the article shall be eliminated quickly. 

Raise A Concern