Adani Group to Pay $1.1 Billion Upfront for Release of Committed Shares Ahead of September 2024 Maturity

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  • Adani group has said the promoters will pay $1,114 million in advance for the release of committed shares before the September 2024 due date.
  • These shares are owned by Adani Ports & Special Economic Zones, Adam Green Energy and Adani transmission.
  • This is part of the company’s assurance to prepay all equity-backed financing.


Adani Group said on Monday that the promoters will pay USD 1,114 million in advance for the release of committed shares of its companies before the expiration date in September 2024. These shares are owned by Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission, a statement said .

“This is a continuation of the promoters’ assurance to prepay all equity-backed financing,” it said.

This statement becomes important given the allegations of fraud and stock manipulation by a short seller against the Adani Group, which have led to a sharp fall in share prices of group companies.

“In light of recent market volatility and in continuation of the promoters’ commitment to reduce overall promoter leverage backed by shares of Adani public companies, we are pleased to announce that the promoters have posted the amounts to prepay USD 1,114 million before the September 2024 due date,” the statement said.

Upon prepayment, 168.27 million shares of Adani Ports & Special Economic Zones, representing 12 percent of the promoter’s stake, will be released.

In the case of Adani Green, 27.56 million shares representing 3 percent of the promoter’s stake will be released.

Also, 11.77 million shares of Adani Transmission, representing 1.4 percent of the promoter’s stake, will be released.

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