India Business News: Adani Ports and Special Economic Zone Ltd plans to buy back up to $195 million of its 2024 bond, seeking to move on from allegations made by a US shor
The company has increased its stake in flagship Adani Enterprises from 69.87 per cent to 71.93 per cent. It has also increased its stake in Adani Ports and Special Economic Zone Ltd from 63.06 per cent to 65.23 per cent.
Adani Group's net leverage ratio has declined to 10-year low as its operating income rises to a record high.
The group's leverage has fallen to 2.81-times on a net debt-to-run rate Ebitda basis from 3.2-times in FY22, led by record run-rate Ebitda of Rs 66,566 crore at the end of June.
Run-rate Ebitda considers annualised Ebitda for assets commissioned after the start of the year and includes other income.
This investment move follows the departure of Deloitte as the auditor for Adani Ports, marking the first such instance following a critical report published by U.S. short-seller Hindenburg Research back in January