New Delhi: Three Adani Group corporations have pledged extra shares for State Bank of India, days after a scathing report by a US short-seller led to over USD 100 billion loss in its market worth, as per inventory change filings.
Adani Ports and Special Economic Zone (APSEZ), Adani Transmission Ltd, and Adani Green Energy pledged shares to SBICAP Trustee Company, a unit of India’s largest lender, SBI. (Also Read: Turkey Earthquake: WhatsApp Saves Student in Quake- Here’s How)
As many as 75 lakh extra shares of APSEZ have been pledged, taking the whole to 1 p.c of all shares with SBICAP. (Also Read: SBI vs ICICI vs HDFC vs PPF FD Rates 2023: Here’s Comparison of Latest Fixed Deposit Interest Rate)
In the case of Adani Green, pledge of 60 lakh extra shares took the whole to 1.06 p.c. Pledge of 13 lakh extra shares of Adani Transmission took the whole to 0.55 p.c, the filings confirmed.
The extra pledges are a part of a USD 300 million letter of credit score – issued by a financial institution to a different financial institution as a assure for funds made – offered by SBI for Adani Group’s Carmichael coal mining challenge in Australia.
Source: zeenews.india.com
