Bankers: Adani Group's debt secured by cash flows, assets

Bankers say that Adani Group's borrowings are secured by assets, and group companies have the required cash flows to service loans. Lenders say credit quality will be unaffected by the outcome of the holding company's public issue or the crash in share prices. However, the group has pledged a major chunk of its Ambuja Cements holdings and may have to offer fresh equity as security to foreign lenders to compensate for the share price fall.

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