Page 49 - Adani Group

Short seller attack was to defame India's governance practices: Adani

After the Hindenburg report's release, shares of the Adani group fell sharply but later recovered after the promoters sold shares and prepaid part of their debt

Adani's Dharavi project to begin survey for rehabilitation of residents

The Dharavi Redevelopment Project -- a special purpose vehicle set up through a joint venture between the Adani Group and Maharashtra government -- on Monday said it will begin a survey next week to determine eligibility of the slum residents for their rehabilitation. Starting with Kamla Raman Nagar from March 18, the survey will collect data from lakhs of informal tenement residents, according to a statement. "The data will be used by the state government to determine their rehabilitation eligibility criteria under the proposed redevelopment project," it said. A specially developed app will be used to capture the data and every informal settlement will be given a unique number, which will be followed with laser mapping of each lane. Under the redevelopment plan, each tenement holder will be provided with a home and the year of occupying a given space will determine the location where the tenement holder will be rehabilitated. A project spokesperson urged all residents to support

Gautam Adani, Qualcomm CEO discuss artificial intellgence, semiconductors

Chip giant Qualcomm chief executive Cristiano R Amon and billionaire Gautam Adani on Monday discussed role of AI, semiconductors and edge appliances across markets in the fast changing global technology space. The two leaders met in Mumbai on Monday morning to discuss India's potential around semiconductors, AI and mobility, according to a social media post by Adani. While Qualcomm is big on designing and manufacturing semiconductors and wireless telecommunications products, Adani group had in 2022 bought a small quantity of fifth generation or 5G spectrum for private captive network deployment in ports, logistics and power generation among others. Adani is also building data centres at multiple locations. "Great meeting with Qualcomm CEO @cristianoamon & his leaders! Inspiring to hear his vision for semiconductors, AI, mobility, edge appliances and much more across different markets. Exciting to hear about his plans and commitment to India's potential!," Adani said in a post on ..

Delhi airport expects 72 mn passengers, expanded T1 to be functional in May

The Delhi airport is expected to handle more than 72 million passengers in the current fiscal ending March 31, the highest-ever annual traffic, and the expanded Terminal 1 is likely to be operational in May, its CEO Videh Kumar Jaipuriar said on Sunday. The expanded T1 terminal, the capacity of which has increased to 40 million from 17 million, was inaugurated virtually by Prime Minister Narendra Modi on Sunday. Now, its total area has tripled to 2,06,950 square metres. The Indira Gandhi International Airport (IGIA) in the national capital, operated by the Delhi International Airport Ltd (DIAL), now has an annual passenger handling capacity of 100 million spread across three terminals -- T1, T2 and T3. Speaking to reporters after the inauguration at the Delhi airport, DIAL CEO Jaipuriar said the expanded T1 is expected to be operational in May before the peak summer season. Currently, the process related to ORAT (Operational Readiness and Airport Transfer) is happening. "When you

Florida-based GQG Partners ups India bet with Bharti Airtel stake buy

The fund also acquires additional stake in Macrotech Developers

Adani Group in discussions to offer $1.2 billion more bonds by June

The company is discussing the planned transaction with arrangers and bankers

Adani Green Energy's $409-million bond sale oversubscribed 7 times

This transaction represents the first bond deal for Adani Group since September 2021 and follows the successful equity raise of over $1.4 billion, which was completed in December last year

Adani's first bond issue sees massive comeback to international market

Adani Green's bonds paid a yield of 6.7%, 42.5 basis points cheaper than levels initially proposed when the deal was announced this morning, thanks to strong investor demand

Adani group offers first $409 million bond since Hindenburg crisis

Hindenburg levied accusations of fraud and stock manipulation in a report in early 2023

Electrolyser manufacturing: RIL, Adani, L&T win incentives in maiden tender

The tender was floated under Centre's Green Hydrogen Mission

Madhya Pradesh eyes over Rs 1 trillion investments via investor summit

Adani group promises investments of Rs 75K cr; will generate 15,000 jobs

Adani Energy in early talks for up to $500 million dollar bond issue

"The deal will materialise in the next three months and we are seeing strong interest from US insurance companies and pension funds," the company source said

Adani group to source copper concentrates from Peru, Chile, Australia

Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd, expects to start its operations in the next few weeks

Adani Group's Ebitda sees increase of 34% at Rs 79,000 crore in 2023

Adani Group on Thursday said pre-tax profit or EBITDA of its portfolio companies that span from apples to airports soared 34 per cent to Rs 79,000 crore in the 12-month period ended December 2023 - 2.5x of EBITDA in financial year 2021. EBITDA of Rs 78,823 crore in 2023 is compared with Rs 58,653 crore pre-tax profit in the previous year, it said in a statement. "The growth was powered by the highly stable core infrastructure platform. Growing at 35.5 per cent, it generated Rs 66,208 crore (USD 8 billion) - 84 per cent of portfolio EBITDA," it said. Domestic and international rating agencies, including S&P Global and Moody's have upgraded or positively revised the outlook for all key portfolio companies. "The portfolio continues to remain conservatively leveraged with net debt to EBITDA as low as 2.5x," the statement said adding debt coverage stood at 2.1x and gross assets to net debt at 2.5x. The group maintained high liquidity with a healthy cash balance of Rs 44,572 crore at ..

Adani Energy Solutions aims to raise about $400 mn via oversees bonds

The group's ability to raise funds offshore has been under close scrutiny since the 2023 crisis triggered by shortseller Hindenburg Research's allegations of malfeasance

Flight delays reduce at Mumbai airport post congestion driven cancellations

The airlines have cancelled about 200 flights per week to and from the Mumbai airport from February 15 onwards

Adani holds Singapore meeting for first dollar bond since Hindenburg crisis

An executive arrived at an office tower overlooking the city state's Marina Bay in a black van on Wednesday, the first stop on a tour of international financial hubs to win over buyers

Adani Green plans to raise $409 million US dollar bonds to repay loan

Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, plans to raise USD 409 million through US dollar-denominated bonds to repay a debt obligation falling this year. In a regulatory filing, the company said the bond will have a door-to-door tenor of 18 years. The proceeds will be used to redeem the USD 500 million 6.25 per cent senior secured notes due 2024, it said adding these notes were issued on June 10, 2019. Three subsidiaries of Adani Green Energy Twenty-three Ltd, a unit of AGEL, are co-issuers. AGEL has a portfolio of 20,844 MW of operational and under execution projects to produce electricity from solar energy. Separately, Fitch Ratings said it has the proposed bond issue an expected rating of 'BBB-(EXP)'. "The Outlook is Stable." "The company plans to use the proposed US dollar notes to refinance its five-year bullet USD 500 million senior secured notes due 2024. The proposed notes will have security and protective structural fea

Adani Green Energy to raise $409 million via US dollar-denominated bonds

Since then, most of the group's foreign bonds are back above the levels they traded at before the Hindenburg report, giving the company comfort to look at a fresh issue of dollar bonds

'Leap forward in self-reliance': Adani Defence unveils ammo, missile sites

The inauguration coincided with the fifth anniversary of Operation Bandar, the Indian Air Force (IAF) bomb strikes on a terrorist camp inside Pakistani territory