After a media report indicated that the conglomerate's claim that it has repaid all of its loans against promoters' shares may not be completely true, Adani Group disclosed its promoters' most recent stock pledge positions related to four publicly traded companies. No regulatory filings, according to the report, show a decrease in promoters' pledged stock after the company revealed the settlement of share-backed loans totaling more than $2 billion.
The promoters’ stock pledge positions in four companies - Adani Ports, Adani Transmission, Adani Green and Adani Enterprises - stood at 4.7%, 3.8%, 3.5% and 0.6%, respectively, as on March 27, the conglomerate said. Their positions, as on December 31, 2022, were 17.3%, 6.6%, 4.4% and 2.7% in these four listed group companies.
Adani mcap suffers worst slide
Adani Enterprises, the group's flagship stock, ended 7.1% lower as the market meltdown in the Adani Group continued with six of the group's ten stocks frozen at the 5% lower circuit level. The group's overall market capitalization decreased by £5.01 billion as a consequence, which was the worst decline in more than a month.
Since January 25, the total mcap of Adani Group has more than halved to £89 billion from £192 billion, BSE data showed.