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

America-India iCET Meet: US NSA meeting with PM Modi and Foreign Minister Jaishankar, India-America will remove all obstacles in the way

With the start of PM Narendra Modi's tenure for the third time, the work of taking forward the bi

Bigg Boss 19: 'This is the most absurd thing...' Amaal Mallik did a dirty act while standing in the kitchen, video goes viral

Bigg Boss 19 has entered its seventh week. A fierce battle is brewing between the contestants. Wh

Palash Muchhal visits Saint Premanand's ashram after his wedding with Smriti Mandhana gets postponed; the photo goes viral.

Music composer Palash Muchhal is currently in the news for his personal life. He was supposed to

CWC 2023: Palestinian supporter arrested for coming to meet Kohli during the match, know the story of that Australian citizen

Remember the person who came to meet Virat Kohli during the final match between India and Austral

'No drama, no breaking news here': Raj's ex-wife Shyamali reacts after Samantha's wedding

The yogic wedding of filmmaker Raj Nidimoru and actress Samantha Ruth Prabhu on December 1st garn

Himachal Rain: Red alert for heavy rain in these districts of Himachal, orders issued to keep schools closed today in many places, including Shimla

Heavy rains continue in Himachal Pradesh. Heavy rains occurred in Kangra, Bilaspur, Kullu, Hamirp

Cyclone Ditwah: Schools and colleges closed in Tamil Nadu amid heavy rains, IMD issues alert in many areas

The administration is on high alert in view of Cyclone Ditwah. Following the forecast of heavy ra

Budget 2024-25: Startups hope to overcome funding shortages, get tax concessions and boost R&D

Finance Minister Nirmala Sitharaman made several announcements for startups in the interim budget

The Nun 2 Review: A weak attempt to cash in on a successful franchise, audiences duped in the name of horror

'The Nun 2', the sequel to the film 'The Nun' released in 2018, has been released in theaters tod

PCB took a U-turn regarding the "enemy country" statement, and said this big thing regarding the grand welcome of the PAK team

Zaka Ashraf takes a U-turn on Dushman Mulk's comment: After the Pakistan team reached India, ther