Preparation: Adani Ports is preparing to repay another loan, will buy back 95 million US dollar bonds.

Adani Ports and Special Economic Zone (APSEZ) has informed that the outstanding loan of US $ 195 million will be repaid by 2024. The group run by Gautam Adani is trying to boost investor confidence after American financial research and investment company Hindenburg targeted it.

APSEZ informed the stock market that it will use its cash reserves to buy back bonds worth US $ 195 million due in 2024. According to the statement, the company’s board of directors has approved this.

Hindenburg had accused the Adani Group of bookkeeping fraud and stock price manipulation along with improper use of foreign entities. After this the shares of the company declined. However, the company has completely rejected these allegations.