KONTAN.CO.ID - NEW DELHI. Three Adani group companies have pledged additional shares for State Bank of India (SBI), a key lender to the Indian conglomerate whose listed entities have lost more than $100 billion in market value after a scathing report by a U.S. short seller. Adani Ports and Special Economic Zone, Adani Transmission Ltd and Adani Green Energy Ltd pledged shares to SBICAP Trustee Co, the firm said in filings to the Bombay Stock Exchange on Friday. The trustee, a unit of India's biggest state lender SBI, said it had pledges for shares worth 1% of Adani Ports, up from 0.65%, for 0.55% of Adani Transmission, up from 0.44%, and for 1.06% of Adani Green, up from 0.68%.
Adani Group Firms Pledge Additional Shares for Key Lender
KONTAN.CO.ID - NEW DELHI. Three Adani group companies have pledged additional shares for State Bank of India (SBI), a key lender to the Indian conglomerate whose listed entities have lost more than $100 billion in market value after a scathing report by a U.S. short seller. Adani Ports and Special Economic Zone, Adani Transmission Ltd and Adani Green Energy Ltd pledged shares to SBICAP Trustee Co, the firm said in filings to the Bombay Stock Exchange on Friday. The trustee, a unit of India's biggest state lender SBI, said it had pledges for shares worth 1% of Adani Ports, up from 0.65%, for 0.55% of Adani Transmission, up from 0.44%, and for 1.06% of Adani Green, up from 0.68%.