Page 38 - Gautam Adani

Adani to prepay $1.11 billion loans on shares, denies report on capex cut

(Reuters) India's Adani Group on Monday said shares related to some group companies will be released following the pre-payment of $1.11 billion of loans ahead of their maturity in 2024

Adani case brings back the question of infrastructure financing in India

The projects need cash, and Adani could well face serious shortfalls. Whether the govt bails them out by giving money or takes them over is a billion-dollar question

PM will do his best to avert Adani issue in Parliament: Rahul Gandhi

Congress leader Rahul Gandhi on Monday said Prime Minister Narendra Modi will do his best to avert a discussion on the Adani issue in Parliament, asserting that the country should know what power is behind the billionare businessman. "Modi ji will do his best to avert a discussion on Adani ji in Parliament. There is a reason for it and you know that. I want there should be a discussion on Adani issue and the truth should come out. The lakhs and crores of corruption that has taken place should come out. The country should know what is the power behind Adani," Gandhi told reporters here. "For a number of years, I have been talking about the government and 'Hum do, Humare do'. The government does not want and is scared of a discussion in Parliament on Adani ji. The government should allow a discussion in Parliament and there will be attempts to avoid it," he also said. The Congress has stepped up the offensive against the government over the Adani-Hindenburg issue and is seeking a ...

Ahead of maturity in Sep 2024, Adani Group to pre-pay $1.1 billion

Adani Group on Monday said that the promoters will pre-pay USD 1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission, a statement said. "This is in continuation of promoters' assurance to pre-pay all share-backed financing," it said. This statement assumes significance in view of the allegations of fraud and stock manipulation by a short-seller against the Adani Group, which led to a steep fall in the share prices of group firms. "In light of the recent market volatility and in continuation of promoters commitment to reduce the overall promoter leverage backed by Adani listed companies shares, we are pleased to inform that promoters have posted the amounts to pre-pay USD 1,114 million ahead of its maturity of September 2024", the statement said. On pre-payment, 168.27 million shares of Adani Ports & Special Economic Zones ...

Adani in talks to prepay loans on shares, denies report on capex cut

Adani Group is in talks to prepay all loans backed by pledged shares, a spokesperson told Reuters on Monday

Will India remain untouched by the slide of Adani?

Whether the Opposition is successful or not in getting a JPC to inquire into the allegations against the Adani Group, it will not fail to use the issue in public as well as in Parliament

Billionaire Gautam Adani's bonds are a soft target with hard assets

To know whether Adani is more likely to float than sink, bondholders are turning to rating companies, advisers and lawyers

Gautam Adani's crisis points to the big risk in India's net zero plan

Led by Adani's $70 billion pledged investment in green energy infrastructure, India's tycoons have so far committed to spend far more than the government on the energy transition

Centre should show same kind of love it has for Adani to common people: KCR

Telangana Chief Minister K Chandrasekhar Rao on Sunday demanded Adani Group's "scam" be discussed in a Joint Parliamentary Committee (JPC) as he targeted the Centre over the import of coal and its "love" for Adani. He claimed the Centre is pressuring Life Insurance Corporation to make a false statement over its exposure in the Adani Group. The Indian banking system is involved in this problem and the whole country is worried, he alleged. Addressing a press conference in Nanded city of Maharashtra after speaking at a public rally, Rao, who heads Bharat Rashtra Samithi (BRS), alleged the Centre is forcing states to import coal which is supplied only by Adani Group. The import of coal is akin to "cheating" the country, and the BRS will change this scenario after coming to power, he said. "It is my request to the Prime Minister that Adani Group is involved in such a big scam and it should be discussed in a joint parliamentary committee. Almost Rs 10 lakh crore has been evaporated," he

Congress to hold countrywide protest tomorrow over Adani vs Hindenburg row

Amid the ongoing Hindenburg-Adani row, the Congress will launch protests from the Parliament to the streets on Monday

Neither macro fundamentals nor country's image impacted by Adani saga: FM

Banks have an exposure of Rs 80,000 crore to the conglomerate, with the SBI leading the pack with Rs 27,000 crore

Congress to ask three questions daily related to Adani issue to PM Modi

The Congress on Sunday said that it will ask three questions a day related to Adani issue to the Prime Minister. The Congress said that after Panama Papers leak no action was taken despite assurance

Modi, govt cannot hide from questions saying Hum Adani Ke Hain Kaun: Cong

The Congress on Sunday stepped up its attack on the Centre over allegations against the Adani group, alleging that the Modi government's "loud silence" over the issue "smacks of collusion". Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. In a statement, Congress General Secretary (Communications) Jairam Ramesh said that starting Sunday the Congress will pose three questions a day to Prime Minister Narendra Modi over the issue. He said that amid the allegations against the Adani Group, the Modi government has maintained a "loud silence which smacks of collusion". Ramesh said that in a response to the Panama Papers expose on April 4, 2016, the Ministry of Finance had announced that Modi had personally directed a multi-agency investigative group to monitor financial flows to and from offshore tax ...

Top headlines: Govt gets 33% stake in Vi; AI, AirAsia to tweak flight path

Business Standard brings you the top headlines at this hour

Inside the 19-hour meltdown that scuttled Adani Group's $2.5 bn share sale

Adani chose to forgo short-term victory of nailing the follow-on offer to protect his longer-term relationships with marquee investors who otherwise were staring at some embarrassing mark-to-market

LIVE: Police busting auto lifter gang, arms supply cartels and theft racket

Catch all the live updates from across the globe here

Indian capitalism's stress test

The Adani crisis is the greatest stress test for Indian capitalism yet. So far, India has passed it, with almost 10/10

Some of the world's richest people exposed to Adani rout, market turmoil

Upheaval gripping AEL may expose billionaires, including Wilmar International, controlled by family of the richest person of Malaysia and world's second-richest Walton family, to the market turmoil

The stakes get bigger: Why Gautam Adani had to re-assess his position

A fight could have spread effects not only on those who financed the projects Adani embarked on, but also the govt's manufacturing and infrastructure ambitions, writes T N Ninan

Adani group's bonds rally as billionaire moves to restore confidence

All 15 dollar debt securities of the group advanced on Friday, partly helped by news that Adani Ports & Special Economic Zone Ltd. had made coupon payments on schedule