May 16, 2023
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Adani Ports and the Special Economic Zone APSE.NS, a group firm of the Adani Group, mentioned on Tuesday that it would be paying $130 million of the total debt early on after about $413 million worth of debt had already been tendered for early payment.
Toward the end of last month, the Adani Ports had reportedly sent out a tender of about $130 million of 3.375% 2024 maturity dollar-denominated bonds, as it seeks to bolster investor confidence when the group’s shares pummeled earlier in 2023, per a US short-seller report.
Spearheaded by Gautam Adani, the billionaire businessman, the group’s seven listed stocks have encountered a loss of almost $114 billion in market value since a 24 January report published by Hindenburg Research accused it of improper use of stock manipulation and offshore tax havens. The group has denied these allegations.
Reference: India Today, Times Of India
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