New Delhi. Adani Group has repaid a loan of about $ 3 billion (Rs 21 thousand crore) during the March quarter. The group has redeemed pledged shares as well as paid three domestic mutual fund companies, according to two people tracking the matter. Let me tell you, before this, Adani Group had not repaid such a huge amount of loan in any quarter.
From where did Adani Group get so much money? “GQG Partners’ investment of $1.88 billion and promoter group’s $1 billion funding have been used for debt repayment,” according to a person tracking the development. According to the information given to the regulator, Adani Group has paid 2.54 billion dollars to redeem the pledged shares of 4 companies of the group (Adani Enterprises Limited, Adani Ports, Adani Transmission and Adani Green).
Pledged shares were reduced in which companies By the end of the March quarter, the pledged shares of Adani Enterprises had come down to 0.44 per cent. Which was earlier 1.94 percent. The pledged shares of Adani Ports declined from 11.28 per cent to 2.84 per cent, Adani Transmission from 4.92 per cent to 2.69 per cent and Adani Green Energy from 2.65 per cent to 2 per cent.
Which Indian mutual fund companies were paid? According to the company’s internal notes, Adani Group has sold commercial papers worth Rs 3,650 crore to SBI Mutual Funds, paid Rs 500 crore to Aditya Birla Sun Life Mutual Fund and Rs 450 crore to HDFC Mutual Fund. No official statement has yet been issued by Adani Group on this whole issue.
GQG Partners got support in difficult times After the Hindenburg report, there was a huge fall in the shares of Adani Group companies. In this difficult period, Adani Group got the support of GQG Partners. The US firm had on March 2 bought 3.4 per cent shares of Adani Enterprises, 4.1 per cent shares of Adani Ports, 3.5 per cent shares of Adani Transmission and 3.5 per cent shares of Adani Green Energy. For this, GQG Partners has paid $ 1.88 billion or Rs 15,446 crore.
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