Adani Ports has announced that it has delivered on a commitment made at the end of FY16, to reduce related party loans, advances and deposits on its balance sheet by March 2017. The company noted that as of March 2016, these loans, advances and deposits given to related parties stood at Rs. 3,500 crore. Adani says that as of March 31st 2017, the company has received the entire Rs. 3,500 crore amount.
The company had also announced earlier in February, that it had bought back NCDs worth Rs. 670 crore which were due to mature in April and September this year.
Adani's price in the share market had hit a new 52 week high on April 3rd (markets were closed on Tuesday).