Adani group prepays Rs 7,374 crore share-backed financing

Adani Group promoters have prepaid loans backed by shares worth $902 million or 7,374 crore to foreign banks and Indian lenders ahead of their maturity in April 2025, it said in a release on Tuesday. The move is aimed at assuaging investors concerned over the total borrowings of the industrial house’s promoters led by Gautam Adani with shares of group companies as collateral in the wake of the recent sell-off triggered by the Hindenburg Research report.