Ahmedabad, 8/3: The Adani Group has repaid a Rs 4,000 crore ($500 million) bridge loan due Thursday, according to people with knowledge of the matter, adding to a slew of other payments as the Indian conglomerate works to restore confidence in its financial health after a scathing short seller report.
The money was released to lenders on Tuesday, the people said, asking not to be identified as the details are private. Some banks had balked at refinancing the debt following a report from Hindenburg Research late-January that sent Adani assets tumbling, Bloomberg News reported in February.