Adani in Talks to Prepay Share Pledges to Boost Confidence
- Group has pledged 5.5% of listed units’ shares in loans
- Repayment could take place as early as this weekend: sources
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Embattled billionaire Gautam Adani is in talks with creditors to prepay some loans backed by pledged shares as he seeks to restore confidence in his sprawling conglomerate’s financial health.
An Adani Group representative said Friday the company is in talks with creditors proactively, confirming an earlier Bloomberg News report. While the official didn’t elaborate further, the move would see lenders release some of the stock pledged as collateral and repayment could take place as early as this weekend, people with knowledge of the matter, asking not to be identified as the details are private.