Gautam Adani repaid a loan of 19 lakhs every minute, reduced the debt burden in 90 days

Gautam Adani Debt Repaid: After the Hindenburg Research report, Gautam Adani and his group have suffered severe injuries both in terms of money and credit. To increase both again, Adani has decided to reduce its debt burden.

Adani Group is continuously working to reduce its debt. According to the report, Adani Group has reduced its debt by $ 3 billion i.e. about 25 thousand crore rupees in the last quarter i.e. the fourth quarter of FY 2023. In this way, in three months, Gautam Adani has repaid Rs 19 lakh as loan every minute. Due to which the pledged shares of the promoter group have come down and three domestic mutual funds along with bonds have also been postponed. Last month, billionaire Gautam Adani's Adani Group had a prepaid share-backed loan of Rs 7,374 crore, which was to mature in 2025.

36.50 billion rupees paid here

A Mint report said on Tuesday that the group has also repaid commercial papers totaling at least 36.50 billion rupees ($445.31 million). Quoting Mint in its report, a company official said that the income from around Rs 15,000 crore from GQG Partners and an additional $ 1 billion from promoter-group funding will be used to pay a large part of the promoters' debt. Was done to issue and repay the bonds early.

How much debt was repaid by these four companies

Out of the total listed companies of the group, four companies Adani Enterprises Limited, Adani Ports SEZ Limited, Adani Transmission Limited and Adani Green Energy Limited have spent $ 2.54 billion to reduce the debt of promoters. The group managed commercial papers worth at least Rs 3,650 crore sold to SBI Mutual Fund (Rs 2,750 crore), Aditya Birla Sun Life Mutual Fund (Rs 500 crore) and HDFC Mutual Fund (Rs 450 crore) in the January-March quarter. paid to.

Did the road show

The Adani Group is treading carefully. Continuously taking steps to repay the pledged shares, bonds and loans. For which the group has also done roadshows in many cities to rebuild the confidence of the investors. In the March quarter, the group has spent at least Rs 12,100 crore in Adani Ports, Rs 4,000 crore in Adani Enterprises, Rs 3,762 crore in Adani Transmission and Rs 1,145 crore in Adani Green Energy. However, the group has reduced the level of pledged shares, which has helped arrest the fall in the group's shares.

Hindenburg's report came

Following the Hindenburg Research report, the group's target is to reduce promoter debt and address the concerns of investors and borrowers. The short seller had brought out a report targeting the group, accusing Gautam Adani of having committed the world's biggest accounting fraud. After the release of this report, Adani Group's market cap has suffered a huge loss of $145 billion.