The Adani Group is in discussions with banks to secure approximately $750 million (Rs 6,200 crore) to meet payment deadlines for the conversion of warrants allocated by Ambuja Cements. These warrants, totaling 477.4 million, were assigned to Harmonia Trade and Investment, a unit of the Adani family, with an initial payment made and the remainder scheduled over 18 months. The conversion, aimed at elevating promoters’ shareholding, anticipates a notional gain of around Rs 9,869 crore based on current stock prices. While efforts are underway to secure the required funding, challenges remain to meet the deadline.
Adani Group Seeks Bank Funding to Fulfill Payment Obligations
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/04/13123835/1709715256-7498-ezgif.com-avif-to-jpg-converter.jpg)