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Adani Group ready to pay off $750 million bond early

Despite rumours of Adani Group controversies, the Adani Group of companies acquired 750 million USD by issuing non-convertible debentures (NCD), which are expected to mature in September 2024.

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Adani Group ready to pay off $750 million bond early

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  1. ADANI GROUP READY TO PAY OFF $750 MILLION BOND EARLY

  2. Adani Green Energy Limited has recently announced that it has completed the funding for the redemption of its 750 million USD bonds 8 months ahead of their maturity date. Despite rumours of Adani Group controversies, the Adani Group of companies acquired 750 million USD by issuing non-convertible debentures (NCD), which are expected to mature in September 2024. However, on 8 January 2024, the company announced that it would ensure early redemption of the 750 million USD bonds.

  3. Redemption of bonds These are the Holdco notes with the receipt of the funds under the preferential allotment of INR 9,350 crore (USD 1,125 million) to the promoters. This huge step taken by the conglomerate will allow the conglomerate to rise above rumours of Adani Group controversies. It will also help Adani Group gain back investors' trust.

  4. THE BREAKUP OF THE REDEMPTION Internal reserves 169 million USD has been pulled through internal accruals and reserve accounts. This highlights the financial stability of the company and its potential for future growth. Joint venture Another 300 million USD has been invested by TotalEnergies through a joint venture. The JV plans to build EV charging points across India.

  5. THANK YOU

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