Page 50 - Adani Group

Adani family to invest Rs 9,350 cr in green unit via issuance of warrants

The quantum of warrants constitutes up to 3.833 per cent of the share capital of the company. As of the September 23 ended quarter, promoters and promoter groups held a 56.26% stake in the company

Adanis to invest Rs 9,350 cr in green energy arm to achieve 45 GW target

Billionaire Gautam Adani and his family plan to inject Rs 9,350 crore into the conglomerate's green energy arm to equip it to achieve the 45 GW target by 2030, according to a company filing. The investment of Rs 9,350 crore in Adani Green Energy Ltd "will be used for deleveraging and accelerated capital expenditure," the firm said in the filing. The green energy developer already has a Power Purchase Agreement (PPA) tie-up of 19.8 GW (out of 20.6 GW locked in capacity, balance 800 MW being merchant) and land of over 2,00,000 acres (equivalent to over 40 GW of additional capacity) in resource rich areas. The board of the company, which has a goal of 45 gigawatts (GW) of green energy capacity by 2030, approved a preferential issuance of warrants to the promoters for a quantum of Rs 9,350 crore at a price of Rs 1,480.75 per share. The issuance is subject to the approval of regulatory and statutory authorities as well as the shareholders of the company at the Extraordinary General Meet

Adani Green Energy completes power purchase project of 8,000 MW for SECI

Adani Green signed the final PPA with the company to supply 1,799 megawatts of solar power for 25 years

Adani Wilmar promoters to divest stake by 1.24% for Sebi compliance

Adani Commodities and Lence Pte, the promoters of the company, will be divesting part of their shareholding, Adani Wilmar said in an exchange filing

Adani Green Energy plans to raise $2 billion through debt next year

Ahmedabad-based Adani Green Energy Ltd. is exploring various instruments including private placement of debt, offshore bank loans as well as dollar and rupee bonds

Adani family plans $1 bn investment in conglomerate's green energy unit

Billionaire Gautam Adani and his family plan to inject $1 billion into the conglomerate's renewable energy unit, people familiar with the matter said, as the group races to reach ambitious green goals

Adani Green Energy announces incorporation of subsidiary Arasan Infra Two

Earlier on December 18, Adani Green had announced the incorporation of four step-down subsidiaries

Hindenburg's Adani Group, Icahn calls mark year of prominent bets

The US firm kicked off 2023 with allegations of accounting fraud and stock manipulation against Indian billionaire Gautam Adani's conglomerate that led to a market value erosion of more than $150 bn

Adani Green Energy announces incorporation of four step down subsidiaries

Adani Green Energy has incorporated four step down subsidiaries -- Adani Renewable Energy Sixty, Adani Renewable Energy Sixty Two, Adani Renewable Energy Sixty Three and Adani Renewable Energy Sixty Four. The four step down entities have an authorised and paid share capital of Rs 1 lakh each. In a regulatory filing on Monday, Adani Green Energy said its wholly-owned subsidiary Adani Renewable Energy Holding Nine Ltd has incorporated four wholly-owned subsidiaries on December 18. They are Adani Renewable Energy Sixty Ltd (ARE60L), Adani Renewable Energy Sixty Two Ltd (ARE62L), Adani Renewable Energy Sixty Three Ltd (ARE63L) and Adani Renewable Energy Sixty Four Ltd (ARE64L), it said. According to the filing, the main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind, solar or other renewable sources of energy. The new subsidiaries are registered with Registrar of Companies, Guja

Post Adani takeover, ACC-Ambuja Cement Ebitda rises to Rs 1,350/tonne

After Adani Group taking over ACC and Ambuja Cement, the EBITDA has risen to Rs 1,350 per tonne from Rs 350 and the group is looking to scale it up to Rs 1,400 by 2024, sources said. In a move to broaden its business verticals, Adani Group last year acquired Ambuja Cement Ltd and ACC Ltd. Ambuja Cement has a cement capacity of 31 million tonne per annum with 6 integrated cement manufacturing plants and 8 cement grinding units across the country. ACC has a cement capacity of 34.45 million tonne with 17 cement manufacturing units, 85 ready-mix concrete plants. The acquisition placed Adani in direct competition with Ultratech Cement, India's largest cement manufacturer. And Adani Group is now planning to double the annual cement making capacity by 2027. Since taking over in September 2022, the EBITDA per tonne of cement has increased from Rs 350 to Rs 1,350, company sources said adding this will be scaled up to Rs 1,400 per tonne by 2024. The current EBITDA margin is about 20 per cent

Tender for Dharavi project finalised when MVA govt was in power: Adani

The project for the redevelopment of Dharavi slum in Mumbai was awarded to the Adani Group through a fair, open, and internationally competitive bidding process, and the tender conditions were finalised when the MVA government was in power, as per a release issued by the group. "It is unfortunate that a concerted effort is being made to disseminate misinformation about certain aspects of the project," the release said after Shiv Sena (UBT) leader and former chief minister Uddhav Thackeray on Saturday led a march against the business conglomerate which was awarded rights to redevelop Dharavi. The morcha was taken out from Dharavi to the Adani Group office located in the Bandra Kurla Complex. The Maharashtra government in July formally awarded the 259-hectare Dharavi Redevelopment project to an Adani Group firm. "It is important to note that the tender conditions were finalised during the tenure of the Maha Vikas Aghadi (MVA) government, which demitted office at the end of June 2022,

Opposition parties stage protest against Adani's Dharavi overhaul plan

Adani and the state government have denied any wrongdoing and say contracts have been awarded as per laws and policies

Opposition parties stage protest against Adani's Dharavi overhaul plan

Adani and the state government have denied any wrongdoing and say contracts have been awarded as per laws and policies

Dharavi redevelopment project tender prepared during Uddhav govt: Shelar

Adani Properties Ltd officially became the primary developer for the Dharavi redevelopment project in July after receiving a government resolution from the state housing department

Adani Group acquires majority stake in news agency IANS for undisclosed sum

Billionaire Gautam Adani's group has acquired a majority stake in news agency IANS India Pvt Ltd for an undisclosed sum as the group expands its presence in the media space. In a regulatory filing, Adani Enterprises -- the firm that holds the group's media interest -- said its subsidiary "AMG Media Networks Ltd has acquired a 50.50 per cent stake constituting equity shares of IANS India Pvt Ltd." The company did not disclose the acquisition price. Adani had forayed into media business in March last year when it acquired Quintillion Business Media, which operates business and financial news digital media platform BQ Prime. It thereafter in December took nearly 65 per cent stake in broadcaster NDTV. AMNL was the vehicle for these acquisitions as well. In the filing, it said, "AMNL has also signed a shareholders' agreement with IANS and Sandeep Bamzai, a shareholder of IANS, to record their inter-se rights with respect to IANS." IANS had a revenue of Rs 11.86 crore in the fiscal yea

MSC arm acquires 49% in Adani Ennore Container Terminal for Rs 247 cr

After the completion of the transaction, APSEZ would hold a 51 per cent stake in AECTPL

Adani Group to make additional investment of Rs 8,700 crore in Bihar

The Adani Group on Thursday said it would make an additional investment of Rs 8,700 crore in Bihar in various sectors, including cement manufacturing, logistics and the agro-industry. The group is already present in Bihar, where it has invested Rs 850 crore, said Pranav Adani, Director, Adani Enterprises. He was speaking at the Bihar Business Connect-2023, a two-day global investors summit that concluded on Thursday. "Our group has decided to invest Rs 8,700 crore in additional sectors in Bihar. This will create direct or indirect employment for approximately 10,000 people in the state, Adani said. Bihar Chief Minister Nitish Kumar released the Bihar Logistics Policy 2023 and a coffee table book (of the state industries department) at the summit on Thursday. Kumar, however, did not address the gathering at the event. Bihar is now an attractive investment destination in the country. We are currently present in logistics, gas distribution, and agro-logistics, with an investment of

Adani Group reports 13.7% rise in cash reserve to Rs 45,895 crore

Adani group companies have reported a 13.7 per cent rise in cash reserve to Rs 45,895 crore in the first half of the current fiscal as earnings across the business rose while debt was almost unchanged. In the half-year credit performance report, Adani said while EBITDA rose to Rs 71,253 crore in April-September this fiscal from Rs 57,219 crore a year back, gross assets increased 6 per cent to about Rs 4.5 lakh crore. Gross debt was almost unchanged at Rs 2.26 lakh crore, but after considering cash reserves, the net debt at Rs 1.80 lakh crore was 3.6 per cent less than Rs 1.87 lakh crore in April-September 2022. The group's flagship incubator Adani Enterprises Ltd and ports unit Adani Ports and Special Economic Zone were top EBITDA earners. The two also account for 37 per cent of the cash balance in the group. Adani Enterprises had the biggest debt of Rs 103,926 crore, followed by APSEZ Rs 99,901 crore and Adani Power Ltd Rs 91,742 crore. City gas firm Adani Total Gas Ltd had the .

Adani Energy Solutions incorporates Gujarat-based Sunrays Infra Space Two

Adani Energy Solutions on Thursday announced the incorporation of a wholly-owned subsidiary Sunrays Infra Space Two Limited on December 13, 2023. "Company has incorporated a wholly-owned subsidiary company in the name of Sunrays Infra Space Two Ltd (SISTL) on 13th December 2023," a BSE filing said. The authorised and paid-up share capital of Sunrays Infra Space Two Ltd is Rs one lakh each. It is incorporated by Adani Energy Solutions Limited for transmission, distribution and supply of power and other infrastructure services relating thereto. The equity shares are acquired at a face value of Rs 10 each for cash consideration with 100 per cent shareholding. The SISTL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on December 13, 2023, and is yet to commence its business operations.

Adani Ports plans to issue $120 million rupee bond sale, first since 2021

Flagship Adani Enterprises Ltd. became the first of Indian billionaire Gautam Adani's firms to sell local-currency bonds, since being targeted by US short seller Hindenburg Research in January