Adani Group repaid the loan of SBI Mutual Fund on time, said this for future.

Adani Group’s Adani Ports and Special Economic Zone (APSEZ) has repaid a Rs 1,500 crore loan.In addition, the company has promised to repay additional loans.
The company’s stock has plummeted following a report last month by the American short-seller firm Hindenburg Research alleging fraud.From the group’s perspective, this step is intended to restore investor confidence.According to a company spokesperson, APSEZ paid Rs 1,500 crore in dues to SBI Mutual Fund on Monday and will pay another Rs 1,000 crore in March as per the payment plan.

Group does not have cash problem

According to the spokesperson, the payment was made with existing cash and proceeds from business operations.By repaying the debt, Adani Group hopes to regain the trust of investors and lenders.As of September 2022, Adani Group’s total debt was Rs 2.26 lakh crore, and it had Rs 31,646 crore in cash.

Gautam Adani’s wealth reached below $ 50 billion

Since the release of Hindenburg’s report, shares of Adani Group companies have continued to fall.As a result, Adani Group Chairman Gautam Adani’s net worth (total assets) has plummeted dramatically.According to the most recent Bloomberg Billionaires Index data, Adani’s total net worth has fallen below $50 billion (Rs 4.13 lakh crore).Adani’s net worth is $ 49.1 billion (Rs 4.05 lakh crore), down from $ 120 billion (Rs 9.91 lakh crore) a month ago.