Adani Group Begins $130 Million Debt Buyback, Bonds Rise

Monday, 24 April 2023Newsdesk

Adani Ports & Special Economic Zone Ltd. said it plans to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, as it tries to show that its liquidity position is comfortable.

New Delhi 24 April 2023

As per news report of NDTV,Adani Group bonds rose after a key company started the first debt buyback by Indian billionaire Gautam Adani's conglomerate since it was targeted by a short seller in January.Adani Ports & Special Economic Zone Ltd. said it plans to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, as it tries to show that its liquidity position is comfortable, the firm said in stock exchange filing.

Source - NDTV