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Adani Group Company Adani Ports and Special Economic Zone (APSEZ) has repaid a loan of Rs 1,500 crore. Along with this, the company has promised to repay more loans. The group’s shares have taken a beating after a report last month by American short seller firm Hindenburg Research alleged fraud. This step is being seen from the point of view of the group to restore the confidence of the investors. A company spokesperson said APSEZ paid Rs 1,500 crore dues to SBI Mutual Fund on Monday and will pay Rs 1,000 crore in March also as per the payment plan.
Group does not have cash problem
The payment has been made out of existing cash and proceeds from business operations, the spokesperson said. Adani Group is hoping to restore the confidence of investors and lenders by repaying the debt. Adani Group’s total debt as of September 2022 was Rs 2.26 lakh crore and it had cash of Rs 31,646 crore.
Gautam Adani’s wealth reached below $ 50 billion
Shares of Adani Group companies have continued to decline since Hindenburg’s report came out. Due to this, there has been a huge decline in the net worth (net worth) of Adani Group Chairman Gautam Adani. According to the latest data from the Bloomberg Billionaires Index, Adani’s total net worth has come down to below $50 billion (Rs 4.13 lakh crore). Adani’s total net worth is $ 49.1 billion (Rs 4.05 lakh crore), which was $ 120 billion (Rs 9.91 lakh crore) about a month ago.
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