Winning Bizness Desk

Mumbai. Adani Group's debt pile continues to grow. In the last one year, there has been a huge increase in the debt of the Adani Group. According to Bloomberg, Adani Group's debt has increased by nearly 21 percent in a year. In this, the share of loans taken from global banking has become almost one third. At the end of March, the Adani group had 29 percent of global banks and financial institutions. It has been reported that Adani Group's ability to repay loans has increased. As of March 31, 2023, the total debt of Adani Group's top 7 listed companies has increased by 20.7 percent to Rs 2.3 lakh crore ($28 billion). People related to the case spoke to Bloomberg on condition of anonymity. Adani Group's debt has been steadily increasing since 2019.

SBI lent about 270 billion rupees

Bonds account for 39 percent of Adani Group's debt which was 14 percent in 2016. At the same time, the country's largest state-owned bank SBI (SBI Debt to Adani) has lent about 270 billion rupees ($3.3 billion) to the Adani Group. Its president gave this information in February. Adani's group companies have increased their debt servicing capacity over the past few years. According to a report by 'Bloomberg', the debt to run rate EBITDA ratio was 3.2 in fiscal year 2023. According to the data, Adani Group is trying to reduce its debt. They have taken steps for that.

100 billion dollar loss due to Hindenburg report

The Adani Group, headed by Gautam Adani, has expanded rapidly. He is also making his mark globally, with business interests in Australia and Israel. After an industry group starts growing rapidly, many eyes fall on that industry group. The Adani Group had to face this after the Hindenburg report came out. However, the Adani Group has categorically denied these allegations. After the Hindenburg report, Adani Group investors sold their shares heavily. Adani Group suffered a $100 billion hit due to the level of share sales. Adani went to great lengths to win the trust of investors. He also paid off the loan taken by pledging the shares before the due date. However, Adani's shares continued to fall.