Adani Group’s big move after Hindenburg Report, sold stake in these companies


Business News Desk,After the report of Hindenburg Research, there was a continuous decline in the stock of Adani Group. However, in the past days, recovery was seen in the shares of the companies associated with the group. On the other hand, the Supreme Court has constituted a six-member committee on the Hindenburg Report matter. Now the group has said that it has sold a minority stake in four listed companies of the group to American Asset Manager company GQG Partners for Rs 15,446 crore.

Adani Group has to repay the debt of more than $ 2 billion
Adani Group has to repay a loan of more than two billion dollars in the coming months and hence cash is needed. The group said in a statement that shares of Adani Ports and Special Economic Zone Limited (APSEZ), Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL) were sold in the market. According to the statement, with this investment, GQG has become a major investor in the development and growth of Indian infrastructure.

72.6 percent stake in AEL before sale
Adani Group has a loan of Rs 2.21 lakh crore, of which about 8 percent is to be repaid by the end of the next financial year. The promoters held 72.6 per cent stake in AEL before the sale and sold 3.8 crore shares or 3.39 per cent stake for Rs 5,460 crore. The promoters held 66 per cent stake in APSE and sold 8.8 crore shares or 4.1 per cent stake for Rs 5,282 crore.

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