Adani Group had to pledge several lakh shares. The group had to take this step after its share price fell sharply. In fact, Adani Group has raised a $1 billion loan from a banking group. Instead of her loan, she has pledged her shares. If the stock price falls, he needs to increase the number of pledged shares to keep the value of the pledged shares the same. Adani Group added another shares worth about Rs.2,450 billion (US$300 million) to its pledged shares on Friday, January 27, PTI reported.
Barclays is also among the group of banks from which Adani Group raised this $1 billion loan.
According to the report, Adani Group has already set aside around $2.5 billion of its shares for such a situation. So that the security value of these shares is retained immediately in the event of price fluctuations.
Citing sources in the report, it was said that Adani Group had pledged shares worth about two and a half times the value of that loan. Under the terms of the loan, if the value of these shares falls below twice, the Group must increase their value to more than twice by pledging additional shares. As of the time of writing, there has been no comment from the Barclay and Adani group on the matter.
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Let us tell you that Adani Group shares have come under pressure since Hindenburg Research, an American short selling firm, published its report last week. In his report, Hindenburg accused the Adani Group of having manipulated the price of its shares. The group then released a 413-page report on Sunday that flatly dismissed Hindenburg’s claims.
The increase in the number of Adani Group’s pledged shares shows that it needs stability in the share price of its various companies. If Adani Group shares continue to fall, more shares will need to be pledged, which can pose a risk.
