Adani Group fully prepays share-backed financing

Ahmedabad (Gujarat) [India], March 12 (ANI): In continuation of promoters' commitment to repay the promoter leverage, the Adani Group has completed full prepayment of margin linked share backed financing aggregating to USD 2.15 billion, well before committed timeline of March 31, 2023, a release said on Sunday.
According to the release, the promoters have also prepaid USD 500 million facility taken for Ambuja acquisition financing.
"This is in line with promoters' commitment to increase equity contribution and promoters have now infused USD 2.6 billion out of total acquisition value of USD 6.6 billion for Ambuja and ACC," the release said.
"The entire prepayment program of USD 2.65 billion has been completed within 6 weeks, which testifies the strong liquidity management and access to capital at sponsor level, supplementing the solid capital prudency adopted at all portfolio companies," it added. (ANI)