homebusiness Newscompanies NewsNSE has sought clarification from Adani Enterprises on report released by The Ken

NSE has sought clarification from Adani Enterprises on report released by The Ken

The Ken today released a report today which created a trigger for selloff in all Adani group stocks with Adani Enterprises and Adani Ports being the biggest losers from this pack for the day.

Profile image

By CNBC-TV18 Mar 28, 2023 5:16:24 PM IST (Published)

Listen to the Article(6 Minutes)
2 Min Read
NSE has sought clarification from Adani Enterprises on report released by The Ken
NSE has sought clarification from Adani Enterprises with respect to recent news item captioned 'The Adani Group wants you to believe it has repaid all its loans against promoters'. The response from the company is awaited.

Share Market Live

View All

The Ken today released a report today which created a trigger for selloff in all Adani group stocks with Adani Enterprises and Adani Ports being the biggest losers from this pack for the day.
The report states “Despite the Adani Group's claim of complete repayment of $2.15 billion in share-backed debt, regulatory filings show that banks have not released a significant portion of the promoters' shares held as collateral, indicating that the debt has not been fully paid off”.
“Over the last two months, the group has claimed to have repaid about $2.15 billion; it announced, on 12 March,  that  all  of  its  margin-linked  share-backed  debt  has  been  paid.  However, regulatory filings examined by The Ken show that banks have not yet released a large portion of its promoters’ shares, as they should have if the loans had indeed been completely repaid. As per Indian laws, disclosures on the release  of  shares  need  to  be  filed  with  stock  exchanges  by  lenders  within  two  working  days,  and  by promoters  within  seven  working  days.  But  neither  the  Adani  Group  nor  the  lenders  have  made  these disclosures to stock exchanges.” the report by The Ken said.

Most Read

Share Market Live

View All
Top GainersTop Losers
CurrencyCommodities
CurrencyPriceChange%Change