adani green energy: promoters promise additional shares of Adani Transmission, Adani Green with SBI Trustee

Promoter entities in Adani transmission And Adani green energy have pledged additional shares with SBI Trust Company on March 6, according to Exchanges Revelations.

In Adani Green Energy, 1,56,65,500 shares or 0.99% additional stake has been pledged. With this, a total 2% stake is pledged with SBI Curator. The release does not mention the name of the promoter who pledged the stake.

In Adani Transmission, 85,26,000 shares or a 0.76% stake have been pledged. With this, a total stake of 1.32% is pledged with SBI Trustee.

Today, shares of Adani Green and Adani Transmission ended in the upper 5% circuit on the NSE. On March 6, Adani Group announced that it had prepaid loans worth Rs 7,374 crore, taken against equity collateral, well ahead of maturity in April 2025.

With the prepayment of loans to various international banks and Indian financial institutions, 155 million shares of Adani Ports31 million in Adani Transmission and 11 million in Adani Green will be released, the group said.

By February, the beleaguered group had prepaid loans worth Rs 9,200 crore to release the shares pledged by the promoters. Along with the February repayments, the group prepaid equity-backed loans worth $2.01 billion.

The early repayment of the loans which follows the investment of Rs 15,000 crore by GQG Partners in 4 companies of the Adani group has reversed the situation for Gautam Adani and investors in the shares of its companies. Shares of Adani companies across the board have gained for six consecutive sessions. The early redemption as well as the investment by the global asset management company helped ease investor concerns about the group’s ability to service its debts.

The Adani Group has been beset by massive allegations made by US firm Hindenburg Research, including poor corporate governance, stock price manipulation and high debt.

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