Adani Group: After the Hindenburg report, there has been a relief news for the investors for the troubled Adani Group. Adani Group informed on Tuesday that it has made premature payment of Rs 7,374 crore of share backed financial. Adani has committed to reduce the leverage of listed companies after the attack by the short seller company, under which it has been decided to reduce the debt.
This step has been taken by Adani Group at a time when Adani Group is organizing roadshows across the world, so that investors can be assured to invest in the company. During the road show, Adani Group is assuring investors that the company’s finances are under control amid falling shares and regulatory scrutiny.
Adani Group shares to be released
Adani Group said that promoters will release 155 million shares or 11.8 per cent stake in Adani Ports. At the same time, the promoters of Adani Enterprises Limited will release 31 million shares. Apart from this, 36 million shares or 4.5 percent shares of Adani Transmission Limited will be released. The promoters of Adani Green will be issued 11 million shares or 1.2 per cent shares. Earlier during February, the group had pre-paid a loan of $1.11 billion.
Payment was to be made before March 31
Adani Group had to pay this money by the end of March. Adani Group claims that it has pre-paid share backed financials worth $2,016 million. Let us tell you that Adani Enterprises to Adani Port, Power and other stocks showed a good rally on Monday.
Meeting with investors in different countries
According to a Bloomberg report, the company will hold meetings with fixed income investors in Dubai, London and the US from March 7 to 15. Similar meetings are also held in Singapore and Hong Kong this week.
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