21 percent jump in outstanding debt on Adani group, debt dependence on global banks increased

Adani Group Debt Crisis: Due to the Hindenberg Research Report, the last two months of the last financial year have been full of trouble for the Adani group. Now this information has come to the fore that in the financial year 2022-23, there has been a jump of 21 percent in the outstanding debt of the Adani group, in which one-third of the debt is owed to global banks.

According to the Bloomberg report, at the end of the month of March, it was found that the company has taken 29 percent loan from Global International Banks. Seven years ago, these international banks were not included in the banks that gave loans to the company. However, it was found from the data that the ability to repay the debt of the company has improved. This data shows how Gautam Adani’s Adani Group has been successful in expanding internationally in recent years which includes Australia to Israel.

The outstanding debt on the main listed companies of Adani Group has reached Rs 2.3 lakh i.e. $ 28 billion by March 31, 2023, with a jump of 20.7 percent. Since 2019, the group has seen a steady increase in borrowings. The country’s largest bank SBI has a loan exposure of Rs 27,000 crore or $3.3 billion on the Adani group. The chairman of SBI had given this information in February. It has also been found from the data that the Adani group is continuously engaged in reducing the outstanding debt.

Let us tell you that after the Hindenburg report, the top executives of the Adani group are going to different countries and trying to instill confidence in the investors towards the group. Along with assuring the investors that the loan will be repaid. However, the stocks of the group have not yet fully recovered from the fall in the shares of the Adani group after the Hindenburg report.

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