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Adani Ports Repays Rs 1,500 Cr To SBI Mutual Fund, Aditya Birla Sun Life
"This underscores the confidence which the market has placed on the prudent capital and liquidity management plan for the group," a company spokesperson said
Topics
Adani Ports & Special Economic Zone Ltd | loan | SBI Mutual Fund
Adani Ports and Special Economic Zone has repaid Rs 1,500 crore loan and will repay another Rs 1,000 crore in commercial papers due in March.
The Adani Group firm paid Rs 1,000 crore to SBI Mutual Fund and Rs 500 crore to Aditya Birla Sun Life Mutual Fund on commercial papers that matured on Monday, as scheduled.
"This part prepayment is from the existing cash balance and funds generated from the business operations," a company spokesperson said. "This underscores the confidence which the market has placed on the prudent capital and liquidity management plan for the group."
An SBI MF spokesperson said it has no further exposure.
"SBI MF had an exposure of around Rs 1,000 crore to Adani Group, which has been repaid on maturity. We have no further exposure to the Adani Group," the spokesperson said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Wed, February 22 2023. 12:54 IST
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