Adani Ports repays Rs 1,500 cr to SBI Mutual Fund, Aditya Birla Sun Life
Gautam Adani has understood that the debt burden will not allow the confidence of investors to return. Apart from Hindenburg, many times there has been a lot of discussion about Adani’s loan.
The company wants to win the trust of the investors. Want to reassure investors of the strength of the company? The focus of the companies is to recover their losses from the report published by Hindenburg Research. Earlier also Adani group announced loan repayment. It is believed that Adani Transmission may announce the debt refinancing plan in a few weeks. According to a Reuters report, the company may soon announce a debt refinancing plan. The company which till now was investing in companies was doing big deals, today it is slipping. The Ajani group has been facing constant setbacks ever since the Hindenburg report came out. The company, which is facing criticism regarding the debt burden, is now focusing on reducing it. Adani’s listed companies are focusing their full attention on repaying the debt.
Gautam Adani has increased his wealth in the last two years, but his wealth has also fallen at the same pace. Gautam Adani’s net worth is continuously falling. The market cap of the company has fallen by 50 thousand crores just today. The Adani group has suffered a major setback after the report that
the company has started reducing this pain. Adani Port has returned the loan of Rs 1500 crore. He has paid 1000 crores to SBI Mutual Fund and 500 crores to Aditya Birla Sun Life Mutual Fund. Earlier, on February 8, Adani Port had said that it would repay the loan of five thousand crores this year. The company announced the prepayment of the loan earlier also. Apart from SBI, Birla Sun, the company has also prepaid loans from Credit Suisse, JP Morgan, and JM Finance. The company has pre-paid a loan of about Rs 8,000 crore. Significantly, in September 2022, the total debt of Adani Group was Rs 2.26 lakh crore.
Hindenburg Research, it is as if a disaster has befallen the Adani group. The share price of group companies is constantly falling. In such a situation, continuous efforts are being made by the group to win back the trust of the investors.
A company spokesperson said that the debt was repaid from cash balances and income from business operations.
