TW Newsdesk, Feb 08: With his empire’s financial stability and corporate governance under fire following a short seller attack, Gautam Adani, the troubled Indian tycoon, is considering paying back loans totalling approximately 50 billion rupees ($604.6 million). This decision comes from his ports division.
According to an earnings statement from Adani Ports & Special Economic Zone Ltd., the company is considering prepaying the whole loan balance in the year that begins in April. This would reduce net debt to earnings before interest, taxes, depreciation, and amortisation to around 2.5 times. Currently, the ratio is a little over three times.