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New Delhi. The Adani group, which has been facing difficulties since the release of the Hindenburg report, has said to repay a loan of Rs 4,000 crore ($500 million) by next month. The group has given this statement after the move of the banks when many banks refused refinancing to the Adani group. Earlier, after the claims of Hindenburg Research, the business of Adani Group started getting affected worldwide.
cnbctv18 According to, Barclays PLC, Standard Chartered PLC and Dutch Bank had given a loan of $ 4.5 billion (about Rs 36 thousand crore) to Adani. This loan was given to buy the cement unit of Holcim Ltd, a portion of which is outstanding as on March 9. The group has said that as a part of the bridge loan, about $ 500 million will be paid next month. Banks had currently refused to give loan to the group again.
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… were ready to give loan thenSources associated with the matter say that till a week before Hindenburg’s report came, the banks were ready to refinance the Adani group. But, after the report became public, many questions were raised on the credibility of the group, due to which the company’s stock also started selling. Foreign banks were most affected by the report and they started hesitating to give loans to the group. Total Energy has also stopped its billion dollar project with Adani Group for the time being.
Investors are reviewing propertiesMSCI Inc has said it is reviewing some of Adani’s securities, while Japan’s asset manager has also started reviewing its investments in the group and its impact. This is an indication from foreign investors that Adani shares may remain under pressure further.
negotiating group with banksThe spokesperson of Adani Group told that at present we are in talks with banks for refinancing. The group is also planning for its payment. Adani Group has talked about repaying the loan for the second time in a week, so that it can instill confidence in its investors. Earlier, Gautam Adani and his family have repaid a loan of $ 1.11 billion (about Rs 9 thousand crore) to redeem the pledged shares.
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Global banks are also doing scrutinyAfter Hindenburg’s report, the global banks which gave loan to Adani group are also reviewing their position. Citigroup Inc has even refused to pledge Adani securities against the loan. Similarly, Credit Swiss Group has also taken a step. After the report, there has been a tremendous sell-off in the companies of the group and its total valuation has come down by around $100 billion.
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Tags: Adani Group, business news in hindi, Gautam Adani, Stock Markets
FIRST PUBLISHED : February 10, 2023, 11:24 IST
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