The Adani Group today informed that the promoters of its listed entities will reduce their leverage and release the pledged shares with prepayment of $1,114 million ($1.11 billion or nearly ₹9,203 crore as per current exchange rate).

“In light of recent market volatility and in continuation of the promoters’ commitment to reduce the overall promoter leverage backed by Adani listed company shares, we are pleased to inform that promoters have posted the amounts to prepay $1,114 million ahead of its maturity of September 2024,” an Adani Group statement said.

With the repayment of this amount, the shares of the listed companies will be released. These include Adani Ports and Special Economic Zone’s (APSEZ’s) 168.27 million shares, representing 12 per cent of the promoters’ holding, Adani Green Energy Limited’s (AGEL’s) 27.56 million shares, representing 3 per cent of promoters’ holding and Adani Transmission Limited’s (ATL’s) 11.77 million shares, representing 1.4 per cent of promoters’ holding.

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Read More: http://www.cnbctv18.com/market/stocks/adani-promoters-prepay-loans-release-pledged-shares-ports-green-transmission-15863501.htm

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