Mumbai: The Adani Group is forced to repay a loan amount of more than Rs 16,500 crore by March 2024. Adani Group’s business empire has been collapsing as its market value plummeted in the wake of allegations of corruption by the Hindenburg Company in the US. Although Adani Group has taken many important decisions to give confidence to investors, it does not seem to be paying off. Adani, which is struggling to cope with the crisis caused by the loss of several thousand crores of rupees, has started to strain its neck.
The Adani Group is facing debt repayments of around USD 2 billion between January 2023 and March 2024. The Adani family will have to pay back Rs 16,500 crore in a single year based on the value of the Indian rupee against the US dollar. Adani’s 8 companies have a total asset value of Rs 4 lakh crore. Economists say that the challenge is to refinance this debt even if there are sufficient financial resources and assets to repay the loans. Adani Group has been downgraded by various financial institutions and rating agencies. Thus, it is noteworthy that Adani Group faces challenges in the current financial year in terms of acquiring new loans and refinancing existing loans.