Adani Ports and Special Economic Zone, Adani Group’s group company, will pay off $130 million of its debt ahead of schedule. 

This move comes after investors tendered almost $413 million of debt for early payment. 

In late April, Adani Ports offered up to $130 million of 3.375 percent 2024 maturity dollar-denominated bonds to restore investor confidence.

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It was after the Adani Group’s stocks plummeted due to allegations of improper use of offshore tax havens and stock manipulation by a US short-seller, Hindenburg Research. 

Since January 24, when the report was released, the Adani Group’s seven-listed stocks have lost around $114 billion in market value. 

The group has denied all allegations.

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