Adani fully prepays share backed promoter financing, increases equity in Ambuja Financing
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In continuation of its promoters' commitment to repay the promoter leverage, the Adani Group has completed full prepayment of margin linked share backed financing aggregating to $2.15 billion, well before the committed timeline of March 31, a statement said.
In addition, promoters have also prepaid $500 million facility taken for Ambuja acquisition financing. This is in line with the promoters' commitment to increase equity contribution and promoters have now infused $2.6 billion out of total acquisition value of $6.6 billion for Ambuja and ACC.
The entire prepayment programme of $2.65 billion has been completed within 6 weeks, which testifies the strong liquidity management and access to capital at sponsor level, supplementing the solid capital prudency adopted at all portfolio companies, the statement added.
