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Gautam Adani recently secured a loan of Rs 1,290 crore, after his group’s previous borrowing of Rs 6,447 crore to acquire a construction firm. Mukesh Ambani’s Reliance Industries had also taken a loan of Rs 25,000 crore recently.
Adani Ports and Special Economic Zone (APSEZ), has recently taken a $150 million (Rs 1,290 crore) loan from DBS Group Holdings Limited. According to a report by The Economic Times, the four-year loan will be utilized for capital expenditure. The report also revealed that the loan was issued at a 200-basis-point benchmark secured overnight financing rate. The total cost including hedging costs is 5.5%. Both DBS Group Holdings Limited and the Adani Group have not officially commented on it yet.
After allegations of bribery in November 2024, the Adani Group worked to gain lender confidence. According to The Economic Times, the company secured a $750 million (Rs 6,447 crore) loan last month to acquire a construction firm. The Adani Group is in talks with Barclays PLC, First Abu Dhabi Bank PJSC, and Standard Chartered Bank to raise another Rs 6,447 crore loan for its airport operations company.
Mukesh Ambani has also acquired a $2.9 billion (around Rs 25,000 crore) foreign loan which is considered as India’s largest external borrowing this year. According to a Bloomberg report, the syndicated loan was arranged by a group of 55 banks.
This loan is divided into two parts and the first tranche of $2.4 billion and the second tranche of ¥67.7 billion (around $462 million). The agreement was finalized on May 9.
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