Adani Group News: Adani Group will make premature payment of $ 111.4 million to redeem pledged shares
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New Delhi : Adani Group on Monday said that the promoters will pay $1114 million to prematurely redeem pledged shares with lenders. Its maturity is to be in September 2024. The group said in a statement on Monday that these pledged shares belong to Adani Ports and Special Economic Zones, Adani Green Energy and Adani Transmission. “The move is in line with the promoters’ assurance of prepayment in all cases of financing arranged by pledging shares,” according to the statement.
The statement assumes significance in the wake of allegations of alleged fraud and manipulation of shares against the Adani group in a report by American financial research company Hindenburg Research. After this report, there has been a huge fall in the shares of the companies of the group.
According to the statement, in view of the recent volatility in the market and the commitment of the promoters to reduce the debt taken against the shares of listed companies, we are pleased to inform that the promoters have prematurely subscribed $ 111.4 million. decided to pay. By the way, its maturity period was of September 2024.
Promoters’ stake will continue
According to the report of news agency Bhasha, the premature payment of Rs 111.4 crore will bring back 16.827 crore shares of Adani Ports and Special Economic Zones, which is equivalent to 12 per cent stake of the promoters. In the case of Adani Green, 2.756 crore shares ie three per cent stake of the promoters will be issued. At the same time, 1.177 crore shares of Adani Transmission will be issued. This is equivalent to 1.4 per cent stake of the promoters.
Opposition uproar in Parliament
The opposition’s uproar continues in Parliament on the Adani Group issue. Due to the uproar by the opposition, the proceedings of Lok Sabha and Rajya Sabha have been adjourned till 2 pm on Monday. Along with this, the opposition discussed the common strategy on Monday. Leaders of several opposition parties, including the Congress, on Monday discussed their joint strategy in Parliament and demonstrated in front of the statue of Mahatma Gandhi in the premises regarding the case related to the allegations leveled by ‘Hindenburg Research’ against the Adani Group and some other subjects. . These protesting leaders had also carried a big banner, on which it was written ‘Adani Scandal or JPC investigation or Supreme Court-monitored investigation’.
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