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Adani Ports & SEZ repays Rs 1,500-crore SBI MF loan in comback strategy

Adani group's gross debt stood at Rs 2.26 lakh crore as of September 2022 and had cash of Rs 31,646 crore

Adani Ports, APSEZ
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Press Trust of India New Delhi
Adani group firm Adani Ports & SEZ paid Rs 1,500 crore loan and promised to repay more as the embattled conglomerate mapped a comeback strategy after a sellout triggered by a damning report by US-based Hindenburg Research.

Adani Ports and SEZ paid SBI Mutual Funds' due amount of Rs 1,500 crore on Monday and will also pay another Rs 1,000 crore of commercial papers due in March (as per the payment scheme), a company spokesperson said.

"This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said. "This underscores the confidence which the market

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First Published: Feb 20 2023 | 10:12 PM IST

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