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The move would see lenders release some of the stock in Adani Group companies that was pledged as collateral, Bloomberg reported, citing a person with knowledge of the matter.
The group hasn’t faced margin calls on these pledges and is seeking the prepayment proactively, according to the report.
The key priority is to remove any concern about margin calls and Adani officials will speak with investors in coming days and will make all payments on time, Bloomberg reported.
A spokesperson for Adani Group did not immediately respond to a Reuters request for comment outside business hours.
Reuters reported earlier that Adani entities made scheduled coupon payments on outstanding U.S. dollar-denominated bonds on Thursday, adding that the conglomerate plans to issue a credit report by Friday that will address concerns raised by Hindenburg Research about its liquidity.
Since Hindenburg’s report on Jan. 24, Adani Group’s companies have lost nearly half their combined market value. Adani Enterprises – described as an incubator of Adani’s businesses – has lost $26 billion in market capitalisation.
On Thursday, Adani’s market losses swelled above $100 billion.
