Page 28 - Gautam Adani

Adani to raise Rs 21,000 cr from share sale in two group companies

Billionaire Gautam Adani's group will raise Rs 21,000 crore (over USD 2.5 billion) through share sale in two group companies in the boldest comeback strategy after the ports-to-energy conglomerate was rocked by allegations of fraud levelled by a US short-seller. Adani Enterprises Ltd, the group's flagship firm, plans to raise Rs 12,500 crore while electricity transmission company Adani Transmission another Rs 8,500 crore, the companies said in stock exchange filings. The board of renewable energy arm, Adani Green Energy Ltd too was scheduled to meet on Saturday for a fundraise but the meeting was postponed to May 24. The fundraise will be through issue of shares to qualified institutional buyers. Sources aware of the matter said investors in Europe and the Middle East have evinced strong interest. In a stock exchange filing, Adani Enterprises said its board on Saturday approved "raising of funds by way of issuance of...equity shares having face value of Rs 1 each of the company an

Adani Transmission's board approves plan to raise up to $1 billion

India's Adani Transmission said its board on Saturday approved a plan to raise up to 85 billion rupees ($1.0 billion) from the market

MSCI to drop Adani Transmission, Adani Total Gas from India index on May 31

Stocks to be assigned 'zero' value if they get locked in lower circuits that day

Adani shortseller saga probe to test Sebi, SC check on the rich & powerful

With PM largely silent on the controversy despite attacks from opposition, these investigations are most significant way India can signal to investors that it is willing to scrutinize its largest firm

Adani Group's Abu Dhabi backer says no plan to join any new share sale

Three companies controlled by Adani are considering a fundraising that may draw as much as $5 billion

Adani Group promoters won't take on debt to fund expansion, growth

However, they will continue to be "net lenders" to group companies when they require funds

Adani looks to raise $ 2-2.5 bn in first share sale since Hindenburg

Billionaire Gautam Adani's conglomerate is looking to raise USD 2-2.5 billion through an equity share sale in the boldest comeback strategy after the ports-to-energy conglomerate was rocked by allegations of fraud levelled by a US short seller. Boards of two group companies will meet on May 13 to consider fundraising, according to stock exchange filings. "A meeting of the board of directors of Adani Enterprises Ltd will be held on Saturday, May 13, 2023, at Ahmedabad, inter alia, to consider and approve the proposal of the raising of funds by way of issuance equity shares or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods," the firm said in the filing. Adani Green Energy Ltd - the group's renewable energy company - too sent out a similarly worded filing. Neither of the two companies disclosed how much money they intend to .

Adani Group shares in focus on fund raising plan; Adani Enterprises up 4%

The board will consider raising funds by way of issuance equity shares or other eligible securities through a private placement, a QIP, or a preferential issue, among others.

Adani Enterprises to consider stock sale months after short-seller turmoil

Adani Enterprises Ltd., the Indian tycoon's flagship, said in a statement on Wednesday it's holding a May 13 board meeting to consider selling stock

Adani-Hinderburg row: Expert panel submits its findings to Supreme Court

The expert panel looking into the matter is chaired by former Supreme Court judge AM Sapre

Adani Group gets financial support from three Japanese banks: Report

Adani Group companies are planning to execute large-scale projects across infrastructure and utility space, and need cash flows for these

Adani Enterprises revenue up 26% at Rs 31,716 cr in Q4, PAT rises 137%

Group flagship company is focused on 'governance, compliance, performance': Gautam Adani

Dharavi wants to be redeveloped but with its residents' future secured

Questions over Adani Group's ability to pull it off but the developer says the concern is unwarranted

Carl Icahn's wealth plunges $10 bn on Hindenburg short-seller report

Icahn, 87, is the latest billionaire to be targeted by Hindenburg this year after the New York-based short-seller went after Gautam Adani and Jack Dorsey

Adani focuses on energy as green unit's net income quadruples in 3 months

Adani Green Energy Ltd., India's top renewables company, saw net income in the three months through March more than quadruple to 5.07 billion rupees ($62 million)

Adani-owned NDTV profit plunges about 98% on weak advertising demand

NDTV reported a consolidated net profit of 5.9 million rupees ($72,206.58) for the quarter ended March 31, compared with 241.6 million rupees a year earlier

Fully cooperating with probe, says Adani after Sebi's extension request

A US-based short seller named Hindenburg report charged Adani Group with financial wrongdoings in its investigation on February 25

Adani Ports & SEZ starts first bond buyback after Hindenburg report

The company also said it plans to buy back $130 million of the 3.375% senior notes in each of the next four quarters

Expect stable cash flows and earnings in FY24, Adani tells banks

Gross debt at Rs 2.27 trillion in FY23 after repayment

Adani meets Sharad Pawar amid JPC probe demand into Hindenburg row

Industrialist Gautam Adani met Nationalist Congress Party (NCP) president Sharad Pawar at the latter's residence here on Thursday amid the Opposition's demand for a Joint Parliamentary Committee (JPC) probe into the Adani-Hindenburg issue. The meeting, held at Pawar's residence Silver Oak in south Mumbai this morning, lasted for nearly two hours, sources said. Earlier this month, Pawar had come out in support of the Adani group and criticised the narrative around the US short seller Hindenburg Research's report on the conglomerate. Taking a position at variance from senior ally Congress, Pawar had said he favoured a Supreme Court committee to probe allegations against the Adani group since the ruling Bharatiya Janata Party (BJP) would have a majority in the JPC based on numerical strength in Parliament and this would lead to doubts on such a probe. The NCP supremo had later said although his outfit does not agree with the demand of anti-BJP parties for a JPC probe into allegations