Ahmedabad (Gujarat) [India], March 29 : The Ad Group refuted the news report published by The Ken, a digital publication, which claimed that the conglomerate had not completed the repayment of USD 2.15 billion in share-backed debt.
According to the conglomerate, the claims in the media report were baseless and deliberately mischievous.
In a release on Tuesday evening, Ad reiterated that it had completed full prepayment of margin linked share backed financing, aggregating to USD 2.15 billion and all corresponding shares pledged have been released.
Ad Group also shared data on pledge positions for its various listed compes.
From December 31, 2022, to March 27, 2023, data showed its pledge position in Ad Green, Ad Ports, Ad Transmission, and Ad Enterprises declined substantially.
In continuation of the promoters' commitment to repay the promoter leverage, the Ad Group earlier this month completed the full prepayment of margin linked share backed financing aggregating to USD 2.15 billion, well before its committed timeline.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor