Adani to repay $1bn in debt in push to rebuild investor confidence

Indian conglomerate's market value has plunged following short-seller attack

20230206 Adani

Ratings agency Moody's Investors Service has cautioned that "adverse developments" could curb the Adani Group's ability to raise money © AP

SAYAN CHAKRABORTY, Nikkei staff writer

TOKYO -- India's Adani Group on Monday said it will prepay $1.1 billion in loans backed by pledged shares, as the embattled conglomerate tries to rebuild investor confidence following a brutal short-seller attack that has wiped nearly $118 billion from its market value.

The group said in a statement that it was repaying the debt ahead of its maturity in September next year "in the light of recent market volatility."

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