As part of its promoters' promise to reduce overall leverage backed by Adani-listed company shares in the wake of a short-seller onslaught, the scandal-hit Adani Group announced on Tuesday that it has prepaid share-backed financing totaling Rs. 7,374 crore.

The action is being taken as the Adani Group conducts a global roadshow to persuade investors that the business' finances are in order despite declining share prices and a regulatory investigation.

The company will have meetings with fixed-income investors from 7 to 15 March in Dubai, London and the US. The US meetings, which will take place in New York and Los Angeles, will last for four days. According to a Bloomberg article, similar events were conducted this week in Singapore and Hong Kong.

The Adani Group released a statement saying, "In continuation of promoters' commitment to reduce the overall promoter leverage backed by Adani Listed Company shares, we would like to inform that we have prepaid share-backed financing of Rs. 7,374 cr ($902 Million) ahead of its latest maturity in April 2025.

The following Adani-listed firm shares will be released following the repayment to numerous foreign banks and Indian financial institutions:

1)  Enterprises Limited: 31 million shares, representing 4.0% of promoters’ holding

2)Adani Transmission Limited: 36 million shares, representing 4.5% of promoters’ holding

3) Adani Green Energy Limited: 11 million shares, representing 1.2% of promoters’ holding

"Adani has  reportedly prepaid USD 2,016 million of share-backed financing, together with the repayments completed earlier in the month of February, which is consistent with promoters' pledge to prepay all share-backed debt before 31 March 2023," the group said.

Adani Stock Buzz: Adani Enterprises gained more than 5% as the stock of the troubled conglomerate Adani surged, and eight of its listed companies saw their shares close the day up.

Following a report by US-based short seller Hindenburg Research, the group equities took a hit on the stock exchanges, although they have since made huge gains.

Markets continue to perform well; Adani stocks rise for fourth day

Adani Mudra power plant with USD 1 billion debt that won’t go down

Adani Group has USD 2 billion bonds due for repayment in 2024