Earlier this week, Bloomberg reported that Adani Group has repaid a $500-million bridge loan that was due on March 9.
Trouble for Gautam Adani-led Adani Group continues to mount even months after short-seller Hindenburg Research’s report.
The Adani group has sought to sell a 4%-5% stake in Ambuja Cements Ltd for over $450 million to reduce debt, said a report on Friday.
Quoting sources, Financial Times reported Adani on Thursday made a formal request to international lenders to sell a 4% to 5% stake in Ambuja Cements as part of debt reduction to restore investor confidence in the conglomerate.
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Earlier this week, Bloomberg reported that Adani Group has repaid a $500-million bridge loan that was due on March 9.
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