Adani group raises fresh debt over Rs 19,000 crore since Hindenburg report

Updated : Jun 08, 2023 14:43
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Editorji News Desk

The Adani group in its presentation shared with the Reserve Bank of India has revealed that it has raised a fresh debt of Rs 19,235 crore in the two months following the Hindenburg report. The group's gross debt outstanding is Rs 2,27,248 crore. 

However, the company's net debt was at Rs 1,86,897 crore, given the cash balance of of Rs 40,351 crore. This net debt is nearly 17% more than the previous year. Meanwhile, the group companies have paid back $2. 1 billion of margin linked, share-backed financing and another loan of $500 million debt for acquiring Ambuja Cement.

The fresh debt funding has made Adani Group's investment pipeline stronger. Times of India quoted sources and said that Adani would use part of the freshdebt for the Navi Mumbai airport, which comes under Adani Enterprises. The group also plans to raise fresh funding for its Mundra Petrochem project under Adani Enterprises.

The group in its presentation has said that both domestic and international banks continue to show confidence across its businesses by disbursing new debt and rolling over existinglines.

 

Adani Group

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