Adani Transmission, Adani Total Gas placed under Stage-II of ASM framework by NSE, BSE
The development comes close on the heels of both the exchanges placing three Adani Groups companies -- Adani Enterprises, Adani Power, and Adani Wilmar under the short-term ASM framework Stage-I.
Two Adani Group companies -- Adani Transmission and Adani Total Gas, have been placed under the Stage-II of the long-term additional surveillance measures (ASM) framework by the NSE and BSE from today.
The move, which will come into effect from Monday, also comes close on the heels of the NSE putting Adani Enterprises, Adani Power and Adani Wilmar under the short-term ASM framework Stage-I from 9 March.
The development comes close on the heels of both the exchanges placing three Adani Group's companies -- Adani Enterprises, Adani Power, and Adani Wilmar under the short-term ASM framework Stage-I.
Earlier, NDTV and Adani Green Energy were placed under the long term ASM framework Stage-II.
ASM measure is a pre-emptive measure by the capital market regulator Sebi and exchanges to enhance 'market integrity and safeguard the interest of investors'. ASM concerns are based on objective parameters with price, volume variation, and volatility.
Meanwhile, Adani Group on Sunday said that it has returned $2.15 billion in share-backed promoter loans that had been secured by pledged shares of several group entities. The promoters have now released all stock promised as collateral for margin-linked share-backed financing, according to group executives, ahead of the deadline of March 31, 2023.
The company also announced that it has paid a further loan tranche of $500 million that was used to finance the purchase of the company's cement assets, ACC Ltd and Ambuja Cements in 2022.
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