Page 18 - Adani

'Didn't give time': Group clarifies Gautam Adani's succession plan comment

Adani Enterprises clarified that Chairman Gautam Adani's succession comments were misquoted, and no date for his retirement or transfer of control to his sons was given

Adani Energy Solutions raises $1 billion, gets bids from US investors

The issue received bids from utility-focussed U.S. investors entering India for the first time along with sovereign wealth funds, Indian mutual funds, and insurance companies, Adani Energy said

The Adani heirs: Meet the future leaders of a $213 billion empire

The future of the Adani dynasty rests in the hands of his two sons, Karan and Jeet, along with their cousins Pranav and Sagar

Gautam Adani plans to step down at 70, to cede control to family in 2030s

When Adani retires, his four heirs - sons Karan and Jeet, and their cousins Pranav and Sagar - will become equal beneficiaries of the family trust

INQ Holdings, SBI funds, Citigroup big buyers in Adani Energy's $1 bn QIP

A unit of Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup were the biggest buyers of shares in Adani group's power transmission unit's USD 1 billion QIP, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire Stanley Druckenmiller's family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a

Dharavi redevelopment gets new boost as resident body supports govt survey

In a shot in the arm for redevelopment of Asia's biggest slum, a newly formed association of residents of Dharavi and its vicinity has lent its support to ongoing state government-led survey of informal tenements, a precursor to the USD 3-billion project by the Adani group that promises to transform lives of an estimated one million residents. "We request the survey be conducted at the earliest possible time to ensure that the redevelopment can move forward without further delays," Citizen and Society Development Welfare body of Dharavi residents wrote to SVR Srinivas, CEO Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA), of government of Maharashtra, on July 30. Representatives of Citizen and Society Development Welfare, who have given the slogan of Dharavi Banao Andolan, met Srinivas and submitted a memorandum seeking expedition of the survey being conducted in Dharavi. The survey, which began on March 18, 2024, has so far completed 10,000 tenements via door t

Adani Energy's $1-bn QIP subscribed 6 times with Rs 50k cr demand

Billionaire Stanley Druckenmiller's family office-led investment firms have made their maiden bet on Adani group, seeking shares of the conglomerate's power transmission unit in an institutional sale that was oversubscribed six-times and fetching demand of over Rs 50,000 crore against an issue size of USD 1 billion. Duquesne Family Office and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - invested in the qualified institutional placement (QIP) of Adani Energy Solutions, sources with direct knowledge of the matter said. The Rs 8,340 crore (USD 1 billion) issue saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Sources said the issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies wi

Adani Group planning investment in two airports in Vietnam: Report

The Group plans to expand its collaboration with Vietnamese partners in the aviation and logistics sectors through the development of Long Thanh and Chu Lai airports

Adani Wilmar posts Rs 313 cr profit in June quarter on higher income

Edible oil major Adani Wilmar on Monday reported a consolidated net profit of Rs 313.20 crore for the first quarter of this fiscal on higher income. The company had posted a net loss of Rs 78.92 crore in the year-ago period. The total income rose to Rs 14,229.87 crore during the April-June period this fiscal from Rs 12,994.18 crore in the corresponding period of the previous year, according to a regulatory filing. Adani Wilmar, a joint venture between Adani Group and Singapore's Wilmar, is into edible oil, food & FMCG and industry essentials businesses. The company sells most of its products under the 'Fortune' brand.

Adani Group to commission first phase of $4 bn petchem project by Dec 2026

The Adani Group will commission the first phase of a USD 4 billion PVC project by December 2026, making its foray into the petrochemicals sector that is marked by a mismatch between domestic demand and supply, sources said. Polyvinyl chloride (PVC) - the third-most common synthetic plastic polymer made worldwide - is used to make products such as raincoats, shower curtains, window frames, pipes for indoor plumbing, medical equipment, wire & cable insulation, bottles, credit cards, and flooring. India's annual PVC demand is roughly 4 million tonne but domestic production capacity is only about 1.5 million tonne, resulting in a supply-demand mismatch. With this disparity between domestic output and consumption expected to widen with an increase in consumption, Adani Group is looking to tap into the sector. Adani Enterprises, the group's flagship firm, is setting up a petrochemical cluster in Mundra in Gujarat. Within this cluster, it aims to set up a PVC plant with a capacity of 2 ..

Adani Energy posts Rs 823 cr net loss in Q1 amid Dahanu divestment decision

Operational earnings before interest, taxation, depreciation and ammortisation (Ebitda), the company said, rose 30 percent to Rs 1628 crore

Adani Group submits investment proposal for Nairobi airport upgradation

Kenya Airports Authority (KAA) on Wednesday said it has received an investment proposal from the Adani Group for the upgradation of the airport in Nairobi. The investment proposal under the public-private partnership has been submitted by Adani Airport Holdings Ltd (AAHL) for Nairobi's Jomo Kenyatta International Airport (JKIA). Currently, AAHL manages seven airports in India and is also developing the Navi Mumbai airport. In a statement, JKIA Managing Director and Chief Executive Officer Henry Ogoye said the proposal came following the Kenyan government approving a medium-term investment plan for the upgradation of the passenger terminal building, runway, taxiway and apron at the Nairobi airport. "Kenya Airports Authority (KAA) received an investment proposal under the Public Private Partnerships Act 2021 from the Adani Airport Holdings Limited, a key airport operator, to invest in a new passenger terminal building, second runway and refurbishment of the existing facilities at JKI

Adani Group eyes Jaypee Group's cement assets amid insolvency proceedings

Adani Group's cement arm, which includes ACC and Ambuja Cement holding, is India's second-largest cement producer

Adani-Hindenburg row: SC quashes plea seeking review of Jan 3 verdict

The plea said Sebi had only updated the court about the status of its 24 investigations after the allegations, without disclosing any details of action taken

Sebi has a strong case against US-based Hindenburg Research, say lawyers

On June 26th, the Sebi issued show-cause notices to Hindenburg Research LLC, US-based hedge fund manager Mark E Kingdon, and four others

Decoded: Hindenburg vs Adani saga raises more questions about short selling

The saga between Hindenburg Research and the Adani Group continues to be a complex web of accusations and investigations.

Congress targets PM over 'Adani group taking Chinese help in solar project'

Congress leader Jairam Ramesh on Saturday slammed Prime Minister Narendra Modi over a news report that the Adani Group has "selected eight Chinese companies to help" its solar manufacturing project and called for a strategy "to wean India of its dependence on China". He said it has to be ensured that the taxpayers' money does not benefit Chinese companies. In a post on 'X', Ramesh said, "The non-biological Prime Minister infamously told the nation on June 19, 2020, after the Galwan clashes that 'Na koi hamari seema mein ghus aaya hai, na hi koi ghusa hua hai (Neither has anyone entered our borders, nor has anyone occupied territories)'." "However, he shows no hesitation in liberally issuing visas to Chinese workers to help one of his 'tempowallah' buddies," he said in the post on 'X' while tagging with it a newspaper report about Adani Solar seeking Centre's nod to bring a few engineers from China. Ramesh's "tempowallah buddies" jibe is in reference to PM Modi's attack on Rahul ..

Adani to invest Rs 1.3 trn in FY25 across portfolio companies, says CFO

The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation

Ready to cash in on infrastructure sector, says Gautam Adani at AGM

Adani added that India's spend on infrastructure is expected to reach a cumulative total of $2.5 trillion

Adani, Hindalco show interest in Hindustan Copper's Jharkhand mines

The interest from Adani Enterprises and Hindalco Industries, two of India's leading industrial conglomerates, highlights the potential and attractiveness of these mines