Gautam Adani Group is already in trouble due to its huge debt. It is now reported that the total debt of the group has increased by 21 percent in a year. Foreign banks also have a big stake in this.
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Industrialist Gautam Adani is in trouble since January this year. After the report of Hindenburg Research, where the shares of a Taru Adani Group broke down. At the same time, the debt burden of Adani Group became a problem for him. It is now reported that the total debt of the group has increased by about 21 percent in the last one year.
There are many reports in the media regarding the current financial condition of the Adani Group. In the report of one of these agencies, the debt of Adani group has been claimed to have increased by 21 percent.
See also: Gautam Adani repaid the loan of so many lakhs every day, reduced the loan amount in 90 days
Took a lot of loan from foreign banks as well
Based on the latest documents, Bloomberg has said in its news that foreign banks have a significant share in Adani Group’s debt. The share of foreign banks in its total debt has increased to one-third.
The group has told in the information given to its investors that 29 percent of its total debt has been raised from global international banks. These figures related to the company’s debt are till the end of March. Whereas 7 years ago the category of international banks was not included in the loan portfolio of Adani Group.
International connections of the group increased
The documents show how the finances of Indian industrialist Gautam Adani’s group have changed. The inclusion of domestic and foreign banks in the group’s creditors shows how comfortably the Adani Group has progressed.
And how it has become an internationally connected business group with business interests in Australia and Israel. However, it has also been told in these documents that Adani Group’s ability to repay its debt has improved.
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increased international monitoring
It has been said in the news that due to Adani Group being global, international monitoring of its activities has also increased. For this reason, America’s short seller group Hindenburg Research has published a report regarding Adani Group. While two international rating agencies say that they are closely monitoring the Adani group, its finance, fund raising and shares.
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