Adani promoters paid $1.1 billion to redeem their pledged shares

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The conglomerate said that this has been done “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”

Promoters of Adani group companies have repaid $1.114 billion before time to release some pledged shares in Adani Ports & Special Economic Zone, Adani Green Energy and Adani Transmission.

The conglomerate said that this has been done “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”.

With prepayment of $1.114 billion of share-backed facility ahead of maturity of September 2024, about 168 million shares (12 percent stake) of the promoters’ holding in Adani Ports, 27.56 million shares (3 percent stake) in Adani Green Energy and 11.77 million shares (1.4 percent stake) in Adani Transmission will be released.