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Adani prepays loans worth $1.11 bn, releases pledged shares in 3 firms

Promoter-pledged shares in transmission, ports, green energy arms will be released

Adani
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Opposition leaders stage a protest at the Gandhi statue in the Parliament complex. Congress workers protested across the country against what they say are investments by Life Insurance Corporation and State Bank of India in the Adani Group | PTI

Dev Chatterjee Mumbai
The promoters of the Adani group have prepaid loans worth $ 1.11 billion on Monday, thus releasing the pledged shares in three key companies — Adani Green Energy, Adani Ports, and Adani Transmission.

The group said the promoters had posted the amounts to prepay $1.11 billion ahead of their maturity in September next year, after recent market volatility, and thus showing their commitment to reduce promoter leverage backed by listed-company shares.

With the prepayment, the shares of the three listed companies will be released in due course: The pledged shares of Adani Ports and Special Economic Zone represent 12 per cent of