Adani Founders Prepay $1.1 Billion Loans in Bid to Stem Rout
- Shares released in Adani Ports, Transmission and Green Energy
- Move to allay fears after short seller triggered sell off
This article is for subscribers only.
Billionaire Gautam Adani and his family have prepaid $1.11 billion worth of borrowings backed by shares as the ports-to-power conglomerate seeks to allay investor fears and stem a stock rout that’s in its third week.
The founders’ early payment will help release 11.77 million shares in Adani Transmission Ltd., the group said in a statement Monday. As many as 168.27 million shares of Adani Ports & Special Economic Zone Ltd. will be released along with 27.56 million shares of Adani Green Energy Ltd.