Shares of some Adani Group companies rose on Wednesday after their debt repayment plans were made public.
Adani Enterprises Ltd., Adani Ports and SEZ, and Adani Power Limited closed higher on the day. Adani Transmission and Adani Ports were both up by 5%.
Adani Port and Special Economic Zone are considering how to repay its debt of 50 billion rupees ($605 million) over the coming year.
The repayment plans are a way for beleaguered Indian billionaire Gautam Adani to shore up investor confidence, who has been under attack by U.S.-based short-seller Hindenburg Research after the firm published a scathing report late January that sent all Adani stocks tumbling.
On Monday, Adani announced that his family would pay back an outstanding loan of $1.1 billion early — it was due to be repaid in September 2024.
The early repayment was “in light of recent market volatility” and would release millions of shares equating to 12%— 3% from Adani Ports, -4.92% 541450Adani Green Energy, and 1.4 % in Adani Transmission.
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