Adani Group: Adani Group took a loan of three billion dollars from Sovereign Wealth Fund! Option to increase the limit

Posted on 1st Mar 2023 04:53 pm by rohit kumar

After the report of Hindenburg Research, relief news has come for the creditors (lenders) from Adani Group, which is facing huge losses. Media reports are claiming that the Adani group has told its creditors that it has taken a loan of three billion dollars from a sovereign wealth fund. If sources are to be believed, the group has taken this step intending to allay concerns about the credit profile. The credit limit of the Sovereign Wealth Fund can be increased to five billion dollars.

 

Earlier it was reported that to improve the credit profile, the group is planning to repay the debt of Rs 5,705 to 6,532 crore ($ 69 to 79 million) taken by pledging the shares. It is believed that the company can prepay these loans in March itself.

 

80 percent drop after the Hindenburg report

According to media reports, Adani Green Energy is planning to refinance its 2024 bonds on a credit line of $800 million (about Rs 6615 crore) for three years. Explain that after the report of American short-seller Hindenburg Research, many shares of Adani Group have registered a decline of up to 80 percent.

 

trying to coordinate with investors

Adani Group is constantly trying to coordinate with the investors to address their concerns of the investors. The group is holding a two-day roadshow after meeting a dozen global banks in Singapore on Monday. A presentation of over 10 pages was also made on the Group's earnings to its total debt in Singapore.

 

Also Read: No bar on media coverage in Adani-Hindenburg case: Supreme Court dismisses petition; Said – will give a decision soon on the formation of the committee

Other news

Rahul Gandhi: Many parts of Rahul Gandhi's speech in Lok Sabha were removed from the record, he had commented on Hindus

Many comments from the address given by Leader of Opposition Rahul Gandhi in Lok Sabha on Monday

Pakistan: Ready to talk to army chief for betterment of Pakistan- Imran Khan

Former Pakistan Prime Minister and Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan said that h

IND vs BAN: India will fight against Bangladesh before T20 World Cup, a golden opportunity to test the team's preparations

The Indian team is ready for the T20 World Cup 2024. The team led by Rohit Sharma will face Bangl

Mirabai Chanu: Mirabai Chanu shines at the World Weightlifting Championships, lifts 199 kg to win the silver medal

India's star weightlifter Mirabai Chanu once again brought glory to the country on the world stag

IND vs NZ: Mohammed Shami revealed the secret of his explosive performance in the World Cup, special preparations were made by making a pitch at this place

Indian team's fast bowler Mohammed Shami played his first match in the World Cup 2023 on Sunday a

India-US: Blinken's visit to India from tomorrow, before the departure of the Foreign Minister, America praised PM Modi

US Secretary of State Antony Blinken's three-day visit to India begins tomorrow (March 1). He wil

Khan Sir Marriage: On whose formula did Khan Sir marry secretly? The bride was shown at the reception and told the secret.

After the wedding of the country's well-known teacher and YouTuber Khan, now his reception (banqu

President Droupadi Murmu: President Murmu inaugurated the warship INS Vindhyagiri, the strength of the Navy will increase

President Droupadi Murmu on Thursday inaugurated the modern warship INS Vindhyagiri (P17A). Presi

Worship Act: Owaisi, Iqra, and Congress filed a petition, why did the Supreme Court say - there is a limit

The Supreme Court on Monday expressed strong displeasure over the filing of a new petition regard

IND vs ENG: 'Best Fielder' announced through a light show at Ekana Stadium, this Indian player won

In the World Cup 2023, the Indian team made the fans happy by registering its sixth consecutive w