Adani vows more equity with SBI for Australia project

Adani Group chairman Gautam Adani has pledged more shares of his companies worth Rs 1,038 crore as collateral for the Carmichael coal mine and rail project in Australia as part of his credit line agreement with SBI. His flagship Adani Enterprises, which last week called off its Rs 20,000-crore follow-on public offering (FPO) after the Hindenburg Research report controversy, pledged 0.35% of Adani Ports & SEZ, 0.11% of Adani Transmission and 0.38% of Adani Green Energy’s equity on February 8.