Adani Group plans to trim its capital spending plans -Mint newspaper
While providing more collateral in the form of stock pledges to lenders, the group may moderate its capex plans in some of its businesses, the newspaperAdani Group did not immediately respond to a Reuters request for comment outside of business hours.
The newspaper said the company might look at 16-18 months for growth in certain businesses, instead of a 12-month target, adding that Adani would return to its usual pace of growth once normalcy returns. The group will use alternative funding channels from internal accruals, promoter equity funding and private placements to fund projects, Mint said.
Additionally, Adani Group's domestic lenders do not plan to cut off the conglomerate from utilising sanctioned but unused credit lines for fears it could backfire and lead to defaults, Mint said in a
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