Adani Group prepays full financing for the acquisition of Ambuja Cements

As part of its debt prepayment plan, the Adani family has paid off the $2.15 billion margin-linked equity-backed financing in full by a late-March deadline.

In addition, the promoters have also pre-paid for a $500 million facility for Ambuja. acquisition financing.

This is in line with the developers’ commitment to increase the capital contribution and they have now injected $2.6 billion of the total acquisition $6.6 billion worth to Ambuja and ACC, the company said in a statement on Sunday.

“The entire $2.65 billion prepaid program was completed in six weeks, demonstrating the strong liquidity management and access to capital at the sponsor level, complementing the strong capital prudence adopted across all of the investment companies. portfolio,” the statement added. The Adani family had acquired Ambuja Cements and its subsidiary ACC for $6.6 billion.

Subsequently, the developers agreed to invest an additional Rs 20,000 crore to expand the capacity of both companies from 70 mtpa to 140 mtpa.

The group’s shares faced severe volatility after a report by US short seller Hindenburg. The group has denied all the allegations and the promoters prepaid loans to release committed shares across the group. companies.