Three companies of Adani Group took loan for the mine project by pledging shares with SBI

Adani Group: Three Adani Group companies have pledged more shares with SBICAP Trustee Company, a subsidiary of SBI. These shares have been pledged against the loan taken for the Carmile mine in Australia. SBI has said that on the basis of letters of credit of $ 300 million from other banks, loans were given to the Adani group for the Carmile mine project in Australia. Adani Group has pledged additional shares for the same loan. Additional shares of Adani Ports and Special Economic Zone, Adani Transmission Limited and Adani Green Energy Limited have been pledged with SBICAP, as per information provided by Adani Group to BSE. Now the quantum of pledged shares of these three companies with SBI Cap has gone up to 1 per cent, 0.55 per cent and 1.06 per cent respectively.

Adani Group Monthly review

SBI says that the property pledged for any loan is reviewed at the end of every month. The amount of the mortgaged property is increased as and when required. SBI says that the process of pledging such shares is adopted as an additional security for the project assets. In lieu of such shares, additional money or loan is not given by SBI.

Shares of Adani Group Decline since Jan 24

The shares of Adani group companies have been falling continuously since January 24 after the report of American research company Hindenburg Research. After this report, the market valuation of the listed companies of the group has decreased by more than $ 100 billion.