Adani says it will repay over $1 billion in debt ahead of schedule in a bid to halt stock-market rout
of chairman and founder Gautam Adani's personal fortune.
He was the world's third-richest person when Hindenburg's report was published but has slipped to 21st position in the two weeks that followed, according to theBy repaying the loan early, he could be trying to demonstrate to investors that he still has significant financial strength despite the ongoing sell-off.
Adani said it had paid off its debt ahead of schedule"in light of recent market volatility and in continuation of the promoters' commitment to reduce the overall promoter leverage backed by Adani Listed Company shares."
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