Friday, March 31, 2023

Adani Prepays Promoter Funding in Whole and Increases Ambuja Financing Equity by USD 2.65 Billion

In keeping of promoters’ commitment to repay promoter debt, Adani has achieved full prepayment of USD 2.15 billion in margin-linked share-backed financing, far ahead of the 31 March 2023 deadline.

In addition to the aforementioned, Ambuja’s promoters have prepaid a $500 million loan used to finance the acquisition of the company. In accordance with promoters’ pledge to raise equity participation, promoters have now infused USD 2.6 billion of the total USD 6.6 billion acquisition value for Ambuja and ACC.

The whole USD 2.65 billion prepayment programme was completed within six weeks, demonstrating robust liquidity management and access to cash at the sponsor level, in addition to the solid capital prudence implemented by all portfolio companies.

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