Adani Group The Adani Ports and Special Economic Zone (APSEZ) company has repaid a loan of Rs 1,500 crore. Along with this, the company has agreed to repay more loans. The group’s shares have taken a beating after a report last month by US short-seller firm Hindenburg Research on suspected fraud. This step is being seen from the point of view of the group in order to regain investor confidence. A company spokesperson said APSEZ paid Rs 1,500 crore in installments to the SBI Mutual Fund on Monday and will pay Rs 1,000 crore in March also according to the payment plan.
The group has no cash problem
The payment was made with existing cash and profits from business operations, the spokesperson said. Adani Group hopes to restore the confidence of investors and lenders by paying off the debt. Adani Group’s total debt as of September 2022 was Rs 2.26 lakh crore and it had cash of Rs 31,646 crore.
Gautam Adani’s wealth reached less than $50 billion
Shares of Adani Group companies have continued to fall since the Hindenburg report came out. Due to this, there has been a large decrease in the net worth (net worth) of Adani Group Chairman Gautam Adani. According to the latest data from the Bloomberg Billionaires Index, Adani’s total net worth has dropped to less than $50 billion (Rs 4.13 lakh crore). Adani’s total net worth is $49.1 billion (Rs 4.05 lakh crore), which was $120 billion (Rs 9.91 lakh crore) about a month ago.
latest business news