The promoters have paid the amounts to prepay $1,114 million ahead of its maturity of September 2024.
"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 paid the amounts to prepay $1,114 million ahead of its maturity of September 2024," the Adani Group said in a media release today, 6 February 2023.With the repayment of such amount, 16.82 crore shares of Adani Ports & Special Economic Zone (12% of the promoters' holding); 2.75 crore shares of Adani Green Energy (3% of promoters' holding); and 1.17 crore shares of Adani Transmission (1.4% of promoters' holding) will release in due course.
"This is in continuation of promoters' assurance to prepay all share backed financing," the statement added.
Shares of Adani Ports & Special Economic Zone surged 9.46%.
However, Adani Green Energy and Adani Transmission were locked in lower circuit of 5% and 10%, respectively.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app