Adani group firms pledge shares for lenders of flagship company – SBICAP Trustee

  • 📰 Reuters
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Three Adani group companies have pledged shares for lenders to the Indian conglomerate's flagship Adani Enterprises , which pulled a $2.5 billion share sale during a recent market rout, the debt trustee firm said.

Hindenburg Research accused the group of stock manipulation and improper use of offshore tax havens. The group has rejected the firm's findings and denied any wrongdoing.the Adani group's links to some of the investors in the conglomerate's aborted share sale, sources told Reuters on Friday.

Fitch estimates that loans to all Adani group entities account for 0.8% to 1.2% of total lending by Indian banks rated by the agency. State Bank of India's exposure to the group was 0.9% of its loan book, or around 270 billion Indian rupees , Chairman Dinesh Kumar Khara has said., two global rating agencies have said.Our Standards:

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I would be surprised to know what is the views of the creditors involved knowing that the collapse is inevitable and what will happen to them. People should learn from the Steinhof saga in South Africa. No different

Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met CowdenBNB and started Bitcoin trading, I earned R350,000 in 3 weeks thanks CowdenBNB

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MSCI cuts some Adani group companies' free-float designationsIndex provider MSCI said it has cut the free-float designations of four securities of India's Adani group, a move which analysts have warned could impact their index weightings.
Source: Reuters - 🏆 2. / 97 Read more »

Adani Group Reportedly Hires Top U.S. Law Firm Over Fraud Allegations As Stocks Continue To TankThe Indian conglomerate’s founder Gautam Adani’s net worth dropped below $60 billion, pushing him out of Forbes’ list of the top 20 richest people in the world. He alone is not responsible for this situation. India's Prime Minister Narendra Modi too is a partner in Adani's financial crimes. Modi supported him twisting all laws. Modi behaved like Adani's agent. This idiot will be self-inflicting more harm and damage on himself than HindenburgRes did. He will be screwed in US if he plans to proceed
Source: Forbes - 🏆 394. / 53 Read more »