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Editorji | India's energy needs may be met by expanding compressed biogas, according to Union Minister Puri

Apr 17,2023

As per Bloomberg report, Adani group's debt pile has increased almost 21% and the proportion held by global banks increased to nearly a third over the past year

A new report by Bloomberg has claimed that Adani group's debt pile has increased almost 21% over the past year. The proportion held by global banks has increased to nearly a third.

Adani group's 29% of its borrowings in March were with global international banks. Along with this, the data also revealed that the group's repayment ability has improved.

As per Business Standard, the shifting state of its finances and creditor mix underscores just how swiftly billionaire Gautam Adani’s group, based in the Indian state of Gujarat, has grown and how connected it has become internationally, with business interests as far away as Australia and Israel.

The Hindenburg report had affected the Adani group hugely. Despite the group's assurance to investors via meetings and repayment of debt, the conglomerate’s stocks and dollar bonds have yet to fully recover from the selloff.

As per Bloomberg report, Adani firms have over the past few years improved on a key metric measuring a company’s ability to service its liabilities. As per Business Standard, gross debt at seven main listed Adani firms rose 20.7% to ₹2.3 trillion ($28 billion) as of March 31. Bonds accounted for 39% of the group's borrowings as of March end. This is a 14% rise from 2016. Meanwhile, State Bank of India had an exposure of ₹ 27 billion to the group. | India's energy needs may be met by expanding compressed biogas, according to Union Minister Puri