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Investors in Adani Group’s listed entities are clearly getting rattled by the incessant negativity from the Hindenburg report. Image Credit: Bloomberg

Mumbai: Billionaire Gautam Adani and family have completed full prepayment of margin-linked, share backed funding worth $2.15 billion before a March 31 deadline, the company said Sunday.

Adani, who owns the port-to-power conglomerate, also prepaid a $500 million loan facility taken to finance the acquisition of Ambuja Cements Ltd. As a result, the founders have completed prepaying $2.65 billion within six weeks, the company said.

The founders have also infused $2.6 billion out of the total acquisition value of $6.6 billion for Ambuja Cements and ACC Ltd, the statement said.

Earlier this month, the company said the founders had prepaid $902 million worth of borrowings backed by shares following another similar $1.1 billion prepayment in February.


The company had said at the time that the payments were "consistent with promoters' commitment to prepay all share backed financing before 31 March 2023."

On Sunday, the company said that the prepayments showed "the strong liquidity management and access to capital" and highlighted the "solid capital prudency adopted at all portfolio companies."

The prepayments come weeks after a scathing report from Hindenburg Research that alleged stock manipulation and accounting fraud. It had expressed concerns over the founder's shares in Adani Group companies being pledged for debt, saying that it was "effectively leveraging the group to the hilt" .

Hindenburg added that the equity share pledges were an unstable source of borrowing because of the possibility of a margin call. Adani has vehemently denied the accusations.