NEW DELHI: Gautam Adani’s ports unit is considering to repay about 50 billion rupees ($604.6 million) of loans, as the beleaguered Indian tycoon seeks to trim debt after a short seller attack put his empire’s financial health and corporate governance under scrutiny.
Adani Ports & Special Economic Zone Ltd is mulling total loan repayment and prepayment of that amount in the year starting in April, which would improve net debt to earnings before interest, taxes, depreciation, and amortization ratio to about 2.5 times, it said in an earnings statement Tuesday. The ratio stands at just over 3 times currently.
