Adani Ports repaid loan of 1500 crores, took steps to restore the confidence of investors, will get benefit!
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Adani Group Latest News: The company of Adani Group has taken a big step to restore the confidence of investors. Group company Adani Ports and Special Economic Zone (APSEZ) has repaid a loan of Rs 1,500 crore. Along with this, the company has promised to repay more loans.
Investors will get benefit!
Let us tell you that in a report last month by American short seller company Hindenburg Research, there has been a huge fall in the shares of Adani Group after alleging fraud. This step is being seen from the point of view of maintaining the confidence of investors from the group.
The company will further repay the loan of 1000 crores
A company spokesperson said that APSEZ paid Rs 1,500 crore dues to SBI Mutual Fund on Monday and in March also the company will pay Rs 1,000 crore as per the payment plan.
The spokesperson gave this information
The spokesman said that this payment has been made from the existing cash and the amount received from business operations. Adani Group is hoping to restore the confidence of investors and lenders by repaying the loan. Adani Group’s total debt in September 2022 was Rs 2.26 lakh crore and it had cash of Rs 31,646 crore.
The report of Hindenburg Research came on 24 January
The report of Hindenburg Research came on 24 January. Since then, tremendous selling is going on in the shares of Adani group companies. Experts believe that this is only a temporary setback related to a corporate group and this has not reduced investors’ confidence in India. However, experts say that to remain on the growth path, Adani Group needs to increase its capital base and reduce debt.
Opposition attacks government on the basis of Hindenburg report
The Hindenburg Research report came just ahead of the Rs 20,000 crore follow-on public offering (FPO) of Adani Enterprises, the flagship company of the Adani Group. After the report, the market valuation of Adani Group’s listed companies has come down by $125 billion in three weeks. At the same time, the opposition is attacking the government on the basis of the Hindenburg report. After this controversy started, the Prime Minister had said in his address in the Parliament that the blessings of 140 crore people of the country are with him.
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