<p>Embattled conglomerate Adani said on Tuesday it prepaid share-backed financing of Rs 7,374 crore ($901.16 million), as part of its promoters' commitment to cut overall leverage backed by shares of the Group's listed companies.</p>.<p>The billionaire Gautam Adani-led Adani Group has been looking to ease concerns about its credit profile after a US-based short seller noted high debt and alleged improper use of offshore tax havens and stock manipulation, which Adani denied.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/adani-largest-indian-investor-in-australia-no-impact-on-business-envoy-1197773.html" target="_blank">Adani largest Indian investor in Australia, no impact on business: Envoy</a></strong></p>.<p>Lenders will release 31 million pledged shares of Adani Enterprises, worth a 4 per cent stake in the company, and 155 million shares, worth an 11.8 per cent stake, of Adani Ports, the group said in a statement on Tuesday.</p>.<p>Lenders will also release pledged shares equivalent to a 1.2 per cent and 4.5 per cent stake in Adani Green Energy and Adani Transmission, respectively.</p>.<p>In a similar move, the group in February pre-paid $1.11 billion. With Tuesday's repayment, the group has so far repaid around $2.02 billion of share-backed financing, it said.</p>.<p>Last week, <em>Reuters </em>reported that the conglomerate told creditors creditors it had secured a $3 billion loan from a sovereign wealth fund.</p>.<p>That was shortly followed by a $1.87 billion stake purchase from Australia-listed and Florida-based investment firm GQG Partners Inc in the four group companies mentioned earlier, whose shares have since risen between 10.2 per cent to 23.4 per cent so far.</p>.<p>GQG's founder Rajiv Jain will meet clients and investors in Australia this week to explain its investment in the Adani group, the company said in a separate statement on Tuesday.</p>
<p>Embattled conglomerate Adani said on Tuesday it prepaid share-backed financing of Rs 7,374 crore ($901.16 million), as part of its promoters' commitment to cut overall leverage backed by shares of the Group's listed companies.</p>.<p>The billionaire Gautam Adani-led Adani Group has been looking to ease concerns about its credit profile after a US-based short seller noted high debt and alleged improper use of offshore tax havens and stock manipulation, which Adani denied.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/adani-largest-indian-investor-in-australia-no-impact-on-business-envoy-1197773.html" target="_blank">Adani largest Indian investor in Australia, no impact on business: Envoy</a></strong></p>.<p>Lenders will release 31 million pledged shares of Adani Enterprises, worth a 4 per cent stake in the company, and 155 million shares, worth an 11.8 per cent stake, of Adani Ports, the group said in a statement on Tuesday.</p>.<p>Lenders will also release pledged shares equivalent to a 1.2 per cent and 4.5 per cent stake in Adani Green Energy and Adani Transmission, respectively.</p>.<p>In a similar move, the group in February pre-paid $1.11 billion. With Tuesday's repayment, the group has so far repaid around $2.02 billion of share-backed financing, it said.</p>.<p>Last week, <em>Reuters </em>reported that the conglomerate told creditors creditors it had secured a $3 billion loan from a sovereign wealth fund.</p>.<p>That was shortly followed by a $1.87 billion stake purchase from Australia-listed and Florida-based investment firm GQG Partners Inc in the four group companies mentioned earlier, whose shares have since risen between 10.2 per cent to 23.4 per cent so far.</p>.<p>GQG's founder Rajiv Jain will meet clients and investors in Australia this week to explain its investment in the Adani group, the company said in a separate statement on Tuesday.</p>