• February 12, 2023

Sbi: Adani Group firms pledge more shares for SBI – Times of India

Sbi: Adani Group firms pledge more shares for SBI – Times of India
Share


NEW DELHI: Three Adani Group companies have pledged additional shares for State Bank of India, days after a scathing report by a US short-seller led to over $100 billion loss in its market value, as per stock exchange filings.
Adani Ports and Special Economic Zone (APSEZ), Adani Transmission Ltd and Adani Green Energy pledged shares to SBICAP Trustee Company, a unit of India’s biggest lender, SBI.
As many as 75 lakh more shares of APSEZ have been pledged, taking the total to 1 per cent of all shares with SBICAP. In the case of Adani Green, pledge of 60 lakh more shares took the total to 1.06 per cent. Pledge of 13 lakh more shares of Adani Transmission took the total to 0.55 per cent, the filings showed.
The additional pledges are part of a $300 million letter of credit – issued by a bank to another bank as a guarantee for payments made – provided by SBI for Adani Group’s Carmichael coal mining project in Australia.Adani Group firms pledge more shares for SBI




Source


Share

Related post

Stock market today: BSE Sensex dips over 200 points in opening trade; Nifty50 near 24,000 – Times of India

Stock market today: BSE Sensex dips over 200…

Share Analysts expect markets to remain subdued on the back of several global events. (AI image) Stock market…
Sensex tanks 942 points; Nifty plunges below 24K on heavy selling in Reliance, banking shares

Sensex tanks 942 points; Nifty plunges below 24K…

Share Image for representative purposes only | Photo Credit: Reuters Benchmark Sensex tanked nearly 942 points to settle…
Azad Engineering bags Rs 700 crore order from Japanese giant Mitsubishi – Times of India

Azad Engineering bags Rs 700 crore order from…

Share HYDERABAD: Azad Engineering Ltd, a Hyderabad-based manufacturer of complex and highly engineered precision forged components for global…