Adani Group promoters won't take on debt to fund expansion, growth

'Measured growth' the new buzzword for the group

Adani Group, Adani

Photo: Bloomberg

Surajeet Das Gupta New Delhi

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The promoters of Adani Group have decided they will not raise further debt on their books to fund the conglomerate’s expansion and growth, according to sources aware of the development.

It is part of their new “risk management” strategy, said sources, after the group’s market capitalisation plummeted following the Hindenburg Research report, which accused it of market manipulation.

However, they will continue to be “net lenders” to group companies when they require funds. The Gautam Adani-led promoter group recently paid back the entire $2.5 billion of loans taken by pledging its shares in the companies.

First Published: May 11 2023 | 8:17 PM IST

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