Adani Group Debt: To strengthen the credit profile, Adani Group will take this big step, will pay this much debt in 1 month

Adani Group is preparing to repay the big loan by the end of March this year. India’s Adani Group has repaid or plans to repay share-backed debt of between 690 million and 790 million by the end of March this year. Two people with knowledge of the matter told The Economic Times that the Adani Group is now looking to further strengthen its credit profile following the short seller Hindenburg report. Adani Green Energy also plans to refinance its 2024 bonds through an $800 million, three-year line of credit.

Those plans were presented by the Adani management to the group’s bondholders in Hong Kong on Tuesday. An Adani spokesman did not immediately respond to a Reuters request for comment. Seven listed Adani group companies have lost over $140 billion in market value since Hindenburg Research’s January 24 report alleged that the group improperly used tax havens and manipulated stocks . Adani has rejected the allegations and denied wrongdoing.

Adani has earlier this month held a call with bondholders in an attempt to allay investor concerns, where group executives disclosed refinancing plans at some of its units and fully pre-paid all loans against shares. Also planned to do.