The promoters of the Adani Group prepaid the loan with shares in the three leading companies as collateral and released the pledged shares.

The group stated that promoters had announced an upfront payment of $1.11 billion before maturity in September 2024, following market volatility and signalling a commitment to reduce the overall leverage of promoters backed by shares in listed companies. The three companies are Adani Green Energy, Adani Ports and Adani Transmission.

After repayment, the shares of the three listed companies will be released in due course. The companies include 168.27 million Adani Ports and SEZ shares, representing 12% of the promoters’ shares.

Adani Green Energy’s approximately 3% promoter stake will be released, as well as Adani Transmission’s 1.4% promoter stake.

“This is a continuation of the promoter’s assurance that all equity-backed financing will be prepaid,” it said.

Here is what happened after US short-seller Hindenburg Research accused Adani Group of improperly exploiting offshore tax havens and manipulating shares. The organisation denies all allegations.