Page 34 - Adani Group

Adani Enterprises to raise up to Rs 800 cr as non-convertible debentures

The majority of the proceeds from the issue will be utilised to prepay or repay, in full or in part, the existing debt, and up to 25 per cent for general corporate purposes

RIC Gwalior: Adani Group proposes to invest Rs 3,500 cr in Madhya Pradesh

At the conclave, the state government received investment proposals worth Rs 8,000 crore, which will create about 35,000 jobs

Adani Ports to set up 2 projects in MP with Rs 3,500 cr investment

Adani Group firm APSEZ on Wednesday announced setting up a 2 million tonne capacity cement grinding unit in Guna and a propellant production facility at Shivpuri in Madhya Pradesh with a total investment of Rs 3,500 crore. Adani Ports and Special Economic Zone Ltd (APSEZ) MD Karan Adani made the announcement at the Gwalior Regional Industry Conclave here. He said the unit in Shivpuri is strategically aligned with the Aatmanirbhar mission to transform India from a defence importer to a defence exporter. These two projects would create over 3,500 direct and indirect jobs. Referring to the investment made by Adani Group in Madhya Pradesh, he said "we have already invested Rs 18,250 crore and created 12,000 jobs. Gwalior is fast becoming a tourism hotspot and a pool of high-quality talent and also a key transportation and trade hub. These developments are making Gwalior one of India's emerging economic centers, attracting investments across sectors." The Adani defence facility at Gwali

Industrials, energy conglomerates see double-digit churn in human capital

Flagship entities of groups such as L&T, Vedanta, Grasim & Adani reported double-digit employee turnover in FY24

Adani group's Ebitda may go past Rs 1 trn in FY25 on infra, power biz

Cement, power, and green energy expected to contribute 86% to growth

Debt exposure of domestic banks and NBFCs in Adani Group increase to 36%

Indian lenders, including domestic banks and non-banking financial companies, have extended Rs 88,100 crore to the Adani Group, out of its total debt of Rs 2,41,394 crore as of March 31, 2024

Adani's Dharavi slum revamp struggles to secure land in potential setback

The project, which aims to rehouse a million people, is a critical and high-profile project for Adani

Ambuja Cements share jump over 4% after multiple block deals

Adani family was likely to sell around 3 per cent stake in Ambuja Cements via block deals

Here's why Hindenburg 2.0 requires a different response from India

Supreme Court in New Delhi should consider bringing back the committee it had set up last year after the New York-based short seller's original report

Adani family to sell around 3% stake in Ambuja Cements on Friday

Move part of portfolio management, induct long-term investors

Gautam Adani planning to revamp family offices, hire auditors and CEO

The moves aim to bring transparency in how the wealth of Asia's second-richest person, valued at $105.4 billion

Lenders ask KSK Mahanadi Power Company bidders to better Adani offer

Adani has offered Rs 27,000 cr for Chhattisgarh project

Why institutions like CCI remained passive as Adani built monopolies: Cong

The Congress on Wednesday questioned the Competition Commission of India over its approval of all acquisitions by the Adani Group, asking why such institutions "remained passive" as the conglomerate built "monopolies" in critical infrastructure sectors, raising prices at consumers' expense. Congress general secretary in-charge communications Jairam Ramesh said the Competition Commission of India (CCI) has reportedly raised concerns that the proposed Reliance-Disney merger could stifle competition. "It is a good time to reflect on how the CCI should have also had the courage to address how the non-biological PM's other favourite business conglomerate is acquiring companies and reducing competition across various industries," he said in a post on X. "The CCI is legally required to approve mergers and acquisitions that exceed a certain threshold. Yet, all acquisitions by the Adani Group have been approved, even as the company builds monopolies in sectors like ports, airports, power, an

Smoke, fire and fog: Looking beyond the haze of Hindenburg allegations

Rather than being ensnared by the specifics of individual allegations, our focus should be on safeguarding Sebi's integrity as an institution

No plan to probe Buch over Hindenburg row: FinMin sources deny media report

Hindenburg Research on August 10 alleged that Sebi Chief Madhabi Buch and her husband had alleged investments in obscure offshore funds, which were used in the alleged Adani money syphoning scandal

Adani Group touts cash, says enough liquidity for 30 months debt payment

Billionaire Gautam Adani's port-to-energy conglomerate on Monday said it has enough cash to cover more than 30 months of debt payments and that its businesses are firing on all cylinders. Cash balance accounted for 24.8 per cent of gross debt of Rs 2.41 lakh crore as of the end of June, up from 17.7 per cent a year earlier, the group said in a statement. "24.77 per cent of gross debt is in form of cash balances providing liquidity cover 30 months of debt servicing." The conglomerate saw June quarter pre-tax profit surge by 33 per cent on back of strong performance by the core infrastructure business as also emerging businesses ranging from solar and wind manufacturing to airports. "EBITDA (in April-June) surged by 32.87 per cent year-on-year to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year," the group said. Group net profit jumped over 50 per cent to Rs .

Adani Power to acquire Reliance Power's Butibori plant in Rs 3,000 cr deal

The deal is expected to be valued between Rs 2,400 crore and Rs 3,000 crore; Adani Power is negotiating with CFM Asset Reconstruction Co to acquire the project under Vidarbha Industries Power Ltd

Adani-led Ambuja Cements completes acquisition of Penna Cement Industries

Ambuja Cements' board of directors had approved the acquisition of 100% stake in Penna Cement at an enterprise value of Rs 10,422 crore in June, expanding the firm's southern footprint

Adani Group pledges 51% stake in Navi Mumbai Airport for Rs 12,770 cr loan

The Adani Group announced the financial closure for the NMIAL project in March 2022, following SBI's commitment to underwriting the entire debt requirement of Rs 12,770 crore

Hindenburg tip of iceberg, only JPC probe can unravel truth: Congress

The demand for a Joint Parliamentary Committee probe into the Adani issue goes beyond the Hindenburg Research's revelations, the Congress said Friday and claimed the "irregularities and wrongdoings" relating to the business conglomerate span every dimension of the political economy. Congress general secretary in-charge communications Jairam Ramesh said "Hindenburg is only the tip of the iceberg" and its allegations are limited to those that deal with the capital markets. "The demand for a Joint Parliamentary Committee (JPC) investigation into the Adani Mega Scam goes far beyond the revelations made by Hindenburg Research's reports. "Irregularities and wrongdoings relating to the Adani Group span every dimension of the political economy, as documented in our 100 question series HAHK (Hum Adani Ke Hain Kaun)," Ramesh said in a post on 'X'. Elaborating on what he said were key elements of the "scam", Ramesh claimed it pertains to "misuse" of India's investigative agencies to secure ..