In light of recent market volatility and in continuation of the promoters’ commitment to reducing the overall promoter leverage backed by Adani Group Listed Company shares, the company has pleased to inform you that promoters have paid the amounts to prepay USD1,114 million ahead of its maturity of Sep 2024.
The prepayment will release the pledge from three group companies – Adani Ports, Adani Green Energy, and Adani Transmission. With the repayment of such amount, the following Adani Listed Company shares shall be released in due course –
- Adani Ports & Special Economic Zone Ltd: 168.27 million shares, representing 12% of the promoters’ holding
- Adani Green Energy Limited: 27.56 million shares, representing 3% of promoters’ holding
- Adani Transmission Limited: 11.77 million shares, representing 1.4% of promoters’ holding
This is in continuation of the promoters’ assurance to prepay all share-backed financing. “In light of the recent market volatility and in continuation of promoters’ commitment to reducing the overall promoter leverage backed by Adani listed companies shares, we are pleased to inform you that promoters have posted the amounts to pre-pay USD 1,114 million ahead of its maturity of September 2024”, the statement said.
The company has also shared Statement On Misleading News On the Pledge Of Shares Of Ambuja Cement Ltd And ACC Ltd.
The company has come across reports from various market sources concerning Ambuja and our subsidiary ACC Ltd (ACC) claiming that shares of both Ambuja and ACC are pledged by Promoters as a part of the acquisition financing.
Consequently, there are market rumors that amid market volatility, there is a requirement to meet the top-up triggers where in there is selling pressure.
The company would like to clarify that none of the shares of Ambuja or ACC have been pledged by Promoters. The Promoters have only provided a non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top-up under the acquisition financing raised last year.