Page 25 - Gautam Adani

Adani Power Q1FY24 results: Net profit up 83.3% YoY, revenue rises 16%

During the quarter, Adani Power achieved an average consolidated plant load factor of 60.1 per cent and sales of 17.5 billion units on an installed capacity of 15,250 MW

Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr

Ambuja Cements' acquisition of Sanghi Industries is expected to be completed in the next three to four months

Adani Energy Solutions Q1FY24 results: Net profit dips 5.9% to Rs 175 crore

As compared to Rs 389.45 crore in the quarter that ended on March 31, the net profit was down 55 per cent

Adani raises $1.4 bn from stake sale in 3 firms; $9 bn raised in 4 years

Billionaire Gautam Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies." "In the most recent instance, Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd," it said. "This ensures higher capital availability at the group level, for growth as well as near-term commitments of both debt and equity for the portfolio companies over the next 12-18 months." In addition, the three portfolio companies have also received board approval

Adani Group planning world's largest, 20 GW hybrid energy plant in Gujarat

The company intends to build the facility faster than any project in its execution history, Gautam Adani said

Adani Group returns to loan market as investor confidence improves

The Indian group is in talks with Barclays Plc, Deutsche Bank AG and Standard Chartered Plc to borrow between $600 million and $750 million to refinance the debt taken on to finance its purchase

Ambuja-ACC and JK Lakshmi Cement lead race for Sanghi Cement acquisition

Ambuja-ACC, JK Lakshmi Cement, and UltraTech are the top three cement players in Gujarat, the region from where Sanghi Cement generates a significant portion of its revenues

Adani's $1.1 bn copper project in Gujarat to start operations from Mar 2024

Billionaire Gautam Adani-led group's copper-producing factory at Mundra in Gujarat will start operations from March next year, helping cut India's dependence on imports and aiding energy transition, sources said. Copper is known as the "metal of electrification" as deeper electrification requires wires, which are primarily made from copper. Technologies critical to the energy transition like electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind and batteries, all require copper. Kutch Copper Ltd (KCL), a subsidiary of the group's flagship Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for the production of refined copper with 1 million tonnes per annum in two phases. For Phase-1, capacity of 0.5 million tonnes per annum, KCL has achieved financial closure through a syndicated club loan, sources with direct knowledge of the matter said. The first phase is expected to become operational by the end of the current fiscal, they

What is the Dharavi redevelopment project? Here is all you need to know

Eighteen years have gone since the plan to redevelop Dharavi, one of the largest slums in the world, was first proposed. Here we find out its history and what lies ahead for the project

Gautam Adani meets Sri Lankan President, proposes green hydrogen project

Billionaire Gautam Adani on Friday proposed to set up a green hydrogen plant in Sri Lanka, where his conglomerate is already developing a container terminal and a 500 MW wind project. Adani met visiting Sri Lankan President Ranil Wickremesinghe to discuss ongoing projects and the new venture. "Great Honour to have met H.E. President Ranil Wickremesinghe to discuss a fascinating set of projects in Sri Lanka including continued development of Colombo Port West Container Terminal, 500 MW wind project, and extending our renewal energy expertise to produce green Hydrogen," he tweeted. The Adani Ports and Special Economic Zone (APSEZ) is developing a USD 700 million container terminal at Colombo Port, which is a major transshipment hub in South Asia. The Adani group is also developing the Vizhinjam seaport project in Kerala, just 176 nautical miles from the Colombo port. The conglomerate's renewable energy firm, Adani Green Energy, is setting up two wind projects of 286 MW in Mannar and

Bain Capital most likely to acquire majority stake in Adani Capital

The development is a result of Adani group's head Gautam Adani's decision to exit from non-core businesses and use this capital for his core ventures

Gautam Adani to convert Mumbai slum into modern city despite challenges

It is the latest mega-project taken on by ports-to-energy conglomerate Adani Group, which already supplies electricity in Mumbai through listed unit Adani Transmission

SBI, other PSBs to fund Adani's Rs 34,000 cr PVC project in Mundra

Mundra Petrochem, an arm of Adani Enterprise has set its eyes on installing the plant with an annual capacity of one million tonnes in the first phase at a total cost of $2.5 million

Adani's Dharavi dream: Producing millionaires minus slumdog prefix

Adani in his note also linked the bid prices to the huge personal connect it offered

Beyond Hindenburg: Gautam Adani talks up 'matrabhumi', major projects

Group confident of its governance and disclosure standards, says billionaire in address to shareholders

Hindenburg report deliberate, malicious attempt to damage reputation: Adani

Gautam Adani added that the Securities and Exchange Board of India is still to submit its report, but the group remains 'confident of governance and disclosure standards'

Adani's go-to bankers at Barclays turn cautious after Hindenburg report

Executives at the highest levels are scrutinising ties with Adani, turning more cautious about adding new business pending a regulatory probe that's supposed to end next month

Bain Capital in talks to acquire Adani Capital for Rs 1,500 crore: Report

The Adani Group is selling its shadow bank as it looks to realign its business interests and focus on preserving cash

Dharavi project gift from Maharashtra govt to Modi's crony Adani: Congress

The Congress on Saturday attacked Prime Minister Narendra Modi over the Maharashtra government formally awarding the Dharavi Redevelopment project to an Adani Group firm, alleging that BJP state governments have been reduced to "ATM machines for his cronies." A resolution released on Thursday by the Housing Development department of the Maharashtra government said the state cabinet had approved the outcome of the bidding process on December 22, 2022, following which the rights were awarded. Adani Properties will be the lead partner in the project for which a special purpose vehicle will be formed. Reacting to the development, Congress general secretary Jairam Ramesh said Devendra Fadnavis' last act before handing over the housing department on Friday was to formally approve the Adani Group's "shady takeover" of the Rs 5,069 crore Dharavi redevelopment project, which involves 600 acres of prime Mumbai land. The project had originally been awarded to a different bidder, he said. "Af

Adani raises Rs 1,250 cr through first bond sale since Hindenburg report

Adani Enterprises had last raised funds via a primary placement of bonds in September last year at an 8.40 per cent yield for 17 months