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The Adani Group has completed full prepayment of margin linked share backed financing aggregating to $2.15 billion, well before committed timeline of 31 March 2023.
In addition to above, promoters have also prepaid $500 million facility taken for Ambuja acquisition financing. This is in line with promoters' commitment to increase equity contribution and promoters have now infused $2.6 billion out of total acquisition value of $6.6 billion for Ambuja and ACC.
The entire prepayment program of $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, a press release issued on 12 March 2023 stated.
Following the update, Adani Power, Adani Transmission, Adani Green Energy, Adani Total Gas were up 5% each. Adani Enterprises was up 1.57%.
Adani Ports and Special Economic Zone (down 1.30%) and Adani Wilmar (down 2.85%) declined.
The Nifty 50 index was down 236 points, or 1.36% at 17,176.90.
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