Adani group has paid off $2.15 bn share-backed loans

Billionaire Gautam Adani-led promoter group has paid off all of the $2.15 billion loans taken pledging their shares in the conglomerate, and only debt at operating company level remains, Adani Group said seeking to assure investors of its ability to repay debt.

Adani Group in a statement termed reports of the group not completing repayment of $2.15 billion share-backed debt “baseless and deliberately mischievous.”

“Adani has completed full prepayment of margin linked share-backed financing aggregating to $2.15 billion (as was announced on March 12) and all corresponding shares pledged for those facilities have been released,” it said.

While “all share-backed facilities availed by the promoters have been paid off”, residual pledges pertain to debt taken by operating companies, it said.