Adani Group Poised For Record-Breaking Rs 29,098 Crore Loan To Refinance Ambuja Cements Acquisition, Finalization Expected This Week

The Gautam Adani-controlled Adani Group is reportedly on the brink of securing a substantial Rs 29,098 crore loan to refinance existing debt that had been utilized for the acquisition of Ambuja Cements Ltd, as per reports by Deccan Herald.

This development underscores growing creditor confidence in the conglomerate.

The deal, expected to be among Asia's top 10 largest loans this year, may be finalized this week.

This lending arrangement will consist of three tenors: 6 months, 18 months, and 3 years.

This financial move follows months of negotiations with banks and follows allegations of fraud made by US short-seller Hindenburg Research, which resulted in a significant drop in the company's bonds and shares earlier this year.

The Adani Group's flagship company had previously raised 12.5 billion rupees ($151 million) in July by issuing local-currency bonds, as part of its effort to address and move beyond the Hindenburg claims.