Shares of Adani Enterprises soared 7% to Rs 1,708.65 on the BSE in intraday trade on Wednesday, erasing the previous day’s losses on heavy trading after the company clarified that all stock backing facilities used by promoters had been paid out.

Shares of Adani Group’s flagship company fell 7% on Tuesday after the digital publication The Ken said the group had yet to repay $2.15 billion in equity-backed debt. From the recent closing high of Rs 2,040 on March 8, 2023, the stock corrected 21% as of yesterday.

The Adani Group clarified this today and said it strongly refuted a news report published by the digital publication The Ken that baselessly and deliberately mischievously claimed that the group has yet to repay $2.15 billion in equity-backed debt.

Adani Group said in a media statement: “Adani has fully prepaid a margin-linked equity-backed facility totalling $2.15 billion (media release dated March 12, 2023) and pledged all corresponding shares have been issued.”

After this repayment, the ListCo pledged positions for Adani Green, Adani Port, Adani Transmission, and Adani Enterprises have significantly been reduced. The group said that only the remaining stake pledge corresponding to the operating company (OpCo) facility remains outstanding.

On Tuesday, The Ken’s reported that the group claimed to have repaid about $2.15 billion over the past two months. On March 12, it announced that it had paid its margin-linked equity-backed debt.

However, regulatory filings examined by The Ken show that the banks have yet to release most of their promoters’ shares, which they should if the loans were fully repaid.

“Under the current rules, any pledge or release of shares is automatically reported by the depository participant’s System Driven Disclosure (SDD) mechanism and no separate filing is required. The same has been updated and reflected on the NSE website. However, the BSE website has not been updated to reflect the same,” Adani Group said.