The Gautam Adani family has fully repaid "margin-linked" share-backed loans totaling £2.04 billion well in advance of their due dates. Last week, they settled £188.5 million of share- backed financing. With this, the family has repaid the entire share-backed loans at the sponsor level, the group said.
They had already returned share-backed loans totaling £1.65 billion over two phases. Together with the aforementioned, the family last week also paid off a £409.8 million bridging loan that was taken out for the acquisition financing of Ambuja Cements. The repayments comes after the family raised £1.54 billion from Australia-listed US-based asset manager GQG Partners. Since Hindenburg Research published a damning assessment on the conglomerate's business operations, the actions are intended to restore trust in the conglomerate's financial health report.
For £5.33 billion, the family has purchased Ambuja Cements and its subsidiary ACC in September 2022. About 69% of the total consideration was financed through foreign borrowings. At that time, the promoters also announced an infusion of £2 billion in Ambuja Cements by way of warrants over and above the purchase cost of $6. 5 billion.
According to the media, Adani is looking to sell a share in Ambuja Cements that he purchased from Holcim of Switzerland last year. According to the article, he has formally asked international financiers to purchase 4-5% of Ambuja Cements for roughly $450 million.