Shares of Adani Group companies gained on Wednesday after the conglomerate prepaid its debt of Rs 7,374 crore and the NSE moved Adani Enterprises Ltd. out of the short-term additional surveillance measure.
On Tuesday, the Adani Group said its promoters have prepaid debt worth Rs 7,374 crore, or $902 million, backed by shares of four group companies ahead of its latest maturity in April 2025.
A total of 23.3 crore shares will be released as part of the latest prepayment, the apples-to-airports conglomerate said on Tuesday. The prepayment will be against financing from "various international banks and Indian financial institutions".
The exchange had put the stock under short-term ASM along with Adani Ports & SEZ Ltd. and Ambuja Cements Ltd. on Feb. 6, amid extreme volatility following the Hindenburg Research report.
Adani Ports and Ambuja Cements were removed from the short-term additional surveillance measure framework on Feb. 13.
Shares of all Adani Group companies were mixed in trade on Wednesday as the benchmarks declined.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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