Adani Group pledges more of its shares, SBICAP trustee gave this information
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New Delhi : Further shares of Adani Group companies have been pledged as security for the loan taken by the lead firm of the company. SBICAP trustees informed the stock market that another 0.99 per cent shares of Adani Green Energy Limited have been pledged for the benefit of the creditors of Adani Enterprises Limited. In addition, 0.76 per cent shares of Adani Transmission Limited are pledged with banks.
SBICAP did not tell the loan amount
However, SBICAP, a unit of State Bank of India (SBI), did not give information about the amount of loan Adani Enterprises has taken, for which shares have been pledged. After the recent developments, SBICAP has pledged two per cent shares of Adani Green Energy Limited. In the case of Adani Transmission, this figure is 1.32 per cent. Earlier, on March 7, Adani Group had said that it has repaid a loan of Rs 7,374 crore.
Loan given to Adani Group as per norms: Kotak Mahindra Bank
At the same time, a senior official of Kotak Mahindra Bank has said that the loan given to Adani Group is in accordance with the principles of lending by the bank and the loan amount is also nominal. Paritosh Kashyap, president and head of wholesale banking at Kotak Mahindra Bank, said the problems facing the Adani group are more related to capital markets and valuation issues than debt issues.
Amount of loan given to Adani Group is less: Kotak Mahindra
Paritosh Kashyap said that the loan we have given to Adani Group is less. We do business with every corporate entity in the country and the loans we make are consistent with our principles and our book size. He said that the companies operating in Adani Group are in reasonable profit and have strong profitability and balance sheet.
Big allegation on Adani Group in Hindenburg report
Significantly, in January, the New York-based company ‘Hindenburg’ in one of its reports accused industrialist Gautam Adani-led Adani Group of being involved in ‘open stock manipulation and accounting fraud’. After this allegation of the company, there was a big fall in the shares of the listed companies of the group related to diversified business.
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