Adani statement on pledge of shares of listed companies
Chennai: Adani Group on Monday issued a statement on pledge of shares of its listed companies.
It said, "In the 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 posted the amounts to prepay USD 1,114 million ahead of its maturity of September 2024."
With the repayment of such amount, the following Adani Listed Company shares shall be released in due course --Adani Ports & Special Economic Zone Ltd: 168.27 million shares, representing 12% of the promoters’ holding, Adani Green Energy Limited: 27.56 million shares, representing 3% of the promoters’ holding and Adani Transmission Limited: 11.77 million shares, representing 1.4% of promoters’ holding.
This is in continuation of promoters’ assurance to prepay all share backed financing, the statement said.
(With UNI inputs)