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Adani Group: The Adani group has pledged more shares of its companies as security for the loans it has taken. SBICAP trustee has given this information to the stock exchanges. SBICAP told the stock market that 0.99 per cent shares of Adani Green Energy Limited have been pledged for the benefit of the creditors of Adani Enterprises Limited. Adani Transmission Limited has also pledged 0.76 per cent shares in banks.
SBICap, a unit of State Bank of India (SBI), however, did not reveal the quantum of debt taken by Adani Enterprises, for which the shares had to be pledged to the group. SBICAP now has 2 per cent shares of Adani Green Energy Limited as pledge, while a total of 1.32 per cent shares of Adani Transmission have been pledged.
Earlier on March 7, 2023, the Adani group had said that it has repaid a loan of Rs 7,374 crore to address investors’ concerns about debt. 31 million or 4% pledged shares of Adani Enterprises, 155 million or 11.5% of Adani Ports & Special Economic Zone, 36 million or 4.5% of Adani Transmission and 1.2% of Adani Green Energy were redeemed after debt repayment Is. The company had said that after this prepayment, the company has now repaid the debt of $ 2.016 billion, against which the shares were pledged.
The Adani group did not say from where the money came to repay the loan, but recently the promoters raised Rs 15,446 crore by selling shares of four companies to GQG Partners. In the last four years, the outstanding debt on the Adani group has doubled. In 2024, the group has to pay for foreign currency bonds of $ 2 billion. According to information shared with investors last month, the outstanding debt on the Adani group has increased from Rs 1.11 lakh crore in 2019 to Rs 2.21 lakh crore.
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