Adani Group companies will have to repay foreign currency bonds worth about two billion dollars (ie about Rs 16,342 crore) by the year 2024.
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Adani Group companies, facing huge fluctuations in market capitalization, will have to repay foreign currency bonds worth about $ 2 billion (ie about Rs 16,342 crore) by the year 2024. The group has given this information in a presentation before the investors. Adani Group had borrowed foreign currency bonds worth more than $ 10 billion from July 2015 to 2022. Of these, bonds worth $1.15 billion matured during the years 2020 and 2022.
Maturity of three bonds completed next year
However, none of the group’s foreign currency bonds are maturing in the year 2023. But the maturity period of his three bonds is getting completed next year. Of these, bonds worth $650 million have been issued by Adani Ports and SEZ. While two bonds of $ 750 million and $ 500 million are included from Adani Green Energy.
Adani Group officials tried to assure the investors that the maturity payment of these bonds would be met. Apart from offering private allotment notes, cash from operations of companies can also be used for this.
According to the information given to investors last month, the total debt burden on Adani Group was Rs 1.11 lakh crore in the year 2019. But now it has become Rs 2.21 lakh crore. After including the cash, the net debt on the group is Rs 1.89 lakh crore.
Huge ups and downs in Adani’s shares
Earlier on January 24, after a report by American short selling company Hindenburg Research came out, the shares of Adani Group have seen huge fluctuations. Its market capitalization had declined by $ 135 billion in the month of the report. But some improvement has been seen in the last week. Let us tell you that the total market capitalization (MCap) of the ten listed companies of Adani Group has increased by Rs 1.73 lakh crore during the last week.
Shares of Adani Group have been in headlines. Last week there were reports of Adani Group taking a loan of three billion dollars. In fact, Hindenburg Research, a US-based short selling company, accused the Gautam Adani-led business group of stock market manipulation and accounting fraud.
Source: www.tv9hindi.com
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