India's Adani Ports and Special Economic Zone , a group company of the beleaguered Adani Group, plans to prepay 10 billion rupees ($120.8 million) in commercial papers maturing in March, a company spokesperson said.
The logo of the Adani Group is seen on one of its buildings in Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave, a group company of the beleaguered Adani Group, plans to prepay 10 billion rupees in commercial papers maturing in March, a company spokesperson said.
"This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said in an email repose late on Monday. Adani Ports has commercial papers worth 20 billion rupees due to mature in March, data from information service provider Prime Database showed. It had cash and cash equivalents of 62.57 billion rupees as of Dec. 31, per its latest quarterly report.
The company has also paid 15 billion rupees to SBI Mutual Fund on commercial papers that matured on Monday, as scheduled, it said. On Monday, local media reported that Adani Ports has repaid 5 billion rupees to Aditya Birla Sun Life Mutual Fund against maturing commercial papers.Last week, Reuters reported Adani Enterprises and Adani Ports are l
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