Adani Group Prepays Full Financing for Ambuja Cements Acquisition

Adani Group has prepaid $2.15 billion in equity to finance a $500 million bridge loan for the acquisition of Ambuja.

As part of their debt pre-payment strategy, the Adani family has paid margin-linked share-backed funding of $2.15 billion before the March-end target.

Moreover, the promoters have also prepaid a $500 million capability taken for Ambuja acquisition financing.
This aligns with promoters’ assurance to upsurge equity contribution. They have now imparted $2.6 billion out of the aggregate acquisition value of $6.6 billion for Ambuja and ACC, the company mentioned in a Sunday statement.

“The entire pre-payment sequencer of $2.65 billion has been accomplished within six weeks, which states the strong liquidity supervision and access to capital at guarantor level, accompanying the solid capital prudency accepted at all portfolio companies,” the statement added. The Adani family had assimilated Ambuja Cements and its subsidiary ACC for $6.6 billion.

The promoters later decided to invest a supplementary of Rs 20,000 crore to enlarge both companies’ capacity from 70 mtpa to 140 mtpa.

The group’s shares confronted severe volatility after posting a report by US-based short seller Hindenburg. The group has been deprived of all the allegations and prepaid promoter’s loans to issue pledged shares across group companies.

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