New Delhi: The National Stock Exchange (NSE) has sought clarification from billionaire Gautam Adani-led embattled Adani Group over loan repayment claims.
The exchange asked Adani Group’s flagship company Adani Enterprises Ltd to clarify in reference to a news report which reportedly questioned claims of Adani Group settling its debts worth $2.15 billion.
NSE today said that it has sought clarification form Adani Enterprises, based on a news report which said, “The Adani Group wants you to believe it has repaid all its loan against promoters”.
“The response from company is awaited,” the exchange said.
Notably, all listed companies of Adani Group are in the red leaving a few like Adani Ports, which enjoys 30% of India’s shipping & ports business.
After a report by The Ken, Adani Enterprises stocks slumped over 7% while all other 9 stocks ended in the red, with six company stocks trading at 5% lower circuit.
“Despite Adani Group’s claims $2.15 billion repayment in share-backed debt, regulatory filings show that banks are yet to release a significant portion of the promoters’ shares held as collateral, indicating that the debt has not been fully paid off,” the report said.
As per report, the banks have released the pledged shares of only 2 Adani firms – Adani Ports & SEZ, post latter’s prepayment announcement.
Meanwhile, a report from the leading business daily said that Adani Group, for its takeover of cement assets – ACC and Ambuja Cements, has begun talks to renegotiate the terms of outstanding loans worth $ 4 billion.
Report suggests that the business conglomerate is seeking a five-year term rather than existing 18 months to extend the tenor of $ 3 billion bridge.
