Page 67 - Adani Group

Adani to raise $3.5 bn from equity share sale in three group companies

Billionaire Gautam Adani's conglomerate is looking to raise about USD 3 billion through an equity share sale to institutional investors in the boldest comeback strategy after the ports-to-energy group was hit by a damning report of a US short seller. While boards of Adani Enterprises Ltd - the group's flagship firm - and electricity transmission company Adani Transmission Ltd have already approved raising up to Rs 21,000 crore (over USD 2.5 billion) through share sales to qualified institutional investors, the board of Adani Green Energy Ltd is likely to do so for raising up to USD 1 billion in the next couple of weeks, sources aware of the matter said. Post-board approvals, Adani Enterprises Ltd and Adani Transmission Ltd have sought shareholder approval. Adani Green Energy Ltd's board may meet in the first or second week of June for approving the fundraising, they said. The entire fundraising of USD 3.5 billion, which would go to fund the capital expenditure needs of the group, i

TMS Ep444: JioCinema, recession in Germany, Adani stocks, heat dome

Is JioCinema ready for the big league? Will recession in Germany hit the Indian economy? Has the rally in Adani stocks run its course? What is heat dome? All answers here

Congress alleges 2 offshore Adani-linked funds appeared on IT dept radar

The Congress on Tuesday alleged that two offshore Adani-linked funds appear to have been on the radar of Indian tax authorities since at least 2014 with no action evident other than one or two routine notices, as it reiterated that only a JPC can unearth the truth in the whole matter. The Congress cited a media report which claimed that at least two Mauritius companies which invested in the Adani Group and found mention in the Hindenburg Group's Adani report were on the radar of Indian tax authorities for over a decade. Tagging the media report, Congress general secretary Jairam Ramesh said, "This is now a familiar pattern: two offshore Adani-linked funds appear to have been on the radar of Indian tax authorities since at least 2014, with no action evident other than one or two routine notices for information." "Like SEBI, was the otherwise hyperactive Income Tax department also forced to sleep on the job during Mitr Kaal?" Ramesh said on Twitter. "That's why we have been repeatedl

Adani-Hindenburg saga: Two Mauritius firms in report were under I-T lens

In its Adani report, Hindenburg Research named five Mauritius-based companies that collectively held sizeable stakes in Adani group companies over one and a half decades

Can Adani convince investors to back his capital-hungry businesses?

The utility company earlier this month announced plans to raise as much as $1 billion - one of two Adani companies looking to issue new shares for the first time since the short seller crisis

Indian stocks reclaim spot in world's top 5 markets as Adani scrips rebound

India reclaimed its spot as the world's fifth largest stock market after losing that status to France in January, aided by a revival in Adani Group stocks

Weekend Bites: Adani casts off Hindenburg curse, and demons in Angel Tax

In which we munch over the week's platter of news and views

Adani case: Is Sebi's step to seek foreign fund details PR move, asks Cong

The Congress on Thursday said the SEBI has asked for details of financial institutions owning certain foreign funds and asked whether the market regulator can enforce this now or it was another gesture to exonerate the Adani group. Congress general secretary communications Jairam Ramesh, quoting a media report, also asked on Twitter whether the move is a belated PR exercise to say "we tried but failed..." and how the SEBI would complete its investigation into the Adani issue before deadline fixed by the Supreme Court. The apex court on Wednesday granted the Securities and Exchange Board of India (SEBI) time till August 14 to complete its investigation into the allegations of stock price manipulation by the Adani group and asked the market regulator to place on record an updated status report of the probe. "Zara Chronology Samjhiye: First, SEBI suddenly loosens ownership regulations for Foreign Portfolio Investors so as to make them opaque. Then, the Adani Group takes full advantage

Stocks to Watch today, May 25: Nykaa, LIC, Adani Group, Hindalco, Nalco

Stocks to watch on May 25, 2023: AIA Engineering, eClerx, GSFC, Voda Idea, IEX, IFCI, Page Inds, SAIL, Strides Pharma, and Zee among prominent companies scheduled to announce Q4 results on Thursday.

Adani group may invest $3 bn in Vietnamese renewable energy projects

Chinh said Vietnam welcomed Adani's investment, initially in Lien Chieu Port in the central city of Danang, according to the statement

At Rs 44,664 cr, LIC's Adani portfolio value up 54% from Hindenburg lows

The shareholding of LIC did not change between the December quarter and the March quarter, the exchange data shows

Adani stocks cool off after 3-day surge; save for three, rest shed 0.5-6%

Flagship Adani Enterprises declined the most at 6 per cent after a three-day 40 per cent surge

Market value of LIC investment in Adani Group stocks hit Rs 44,670 cr

Market value of investments made by state-owned Life Insurance Corporation of India (LIC) in seven companies of the Adani group has swelled to Rs 44,670 crore as stock prices rose from the lows seen in the aftermath of the Hindenburg report. The country's largest insurer and leading institutional investor in the Adani group has seen the market value of its holdings in Adani stocks increase by around Rs 5,500 crore since April, stock exchange data showed. LIC's biggest bet is Adani Ports & SEZ Ltd where it holds 9.12 per cent shares. At Wednesday's closing price of Rs 717.95 on the BSE, that holding is worth Rs 14,145 crore. Its 4.25 per cent stake the group's flagship Adani Enterprises Ltd is worth Rs 12,017 crore at Wednesday's closing price of Rs 2,476.90. LIC holds stocks worth about Rs 10,500 crore in city gas distribution firm Adani Total Gas Ltd and Ambuja Cement. Other Adani group firms where LIC holds stakes are Adani Transmission Ltd, Adani Green Energy Ltd and ACC. The .

Abu Dhabi funds, Hinduja group could invest in Adani firms' share sale

Shares worth up to Rs 29,000 crore of three group companies could be put up for sale

TMS Ep439: Sebi's Adani probe, Delhi Metro, paint & tyre stocks, Hawala

What next in Sebi's Adani probe? How will cops in Delhi Metro affect you? Is it time to book profit in paint, tyre stocks? What is Hawala? All answers here

Adani Green Energy to seek board approval to raise up to $1 billion

On May 13, two Adani Group companies, Adani Enterprises and Adani Transmission, received the approval of the board to raise Rs 12,500 crore and Rs 8,500 crore, respectively

Rajiv Jain's GQG Partners to invest another $1 bn in Adani group stocks

On Tuesday, GQG Partners raised their stake in the Adani conglomerate by 10% to $3.5 billion

Stocks to Watch today, May 24: Adani Group, Max Health, Biocon, Manyavar

Stocks to watch on May 24, 2023: Cummins, Hindalco, India Cements, LIC, National Aluminium, Nykaa and Oil India among prominent companies scheduled to announce Q4 results on Wednesday.

No clean chits

Completion of Sebi probe is critical

Adani stocks get fresh boost as GQG ups wager, post gains third day on trot

US investment firm says it has raised stakes in Adani group firms; Group mcap now only 44% below pre-Hindenburg levels