Page 41 - Gautam Adani

Adani FPO fully subscribed after non-retail investors bid in big volumes

The Rs 20,000 crore share sale of Adani group's flagship firm was fully subscribed on Tuesday after non-retail investors bid in big volumes, according to stock exchange data. As many as 4.62 crore shares were sought as against an offer of 4.55 crore. Non-institutional investors put in bids for over three times the 96.16 lakh shares reserved for them, while the 1.28 crore shares reserved for qualified institutional buyers (QIBs) was almost fully subscribed, according to BSE data. There was, however, muted response from retail investors and company employees. Retail investors, for whom roughly half of the issue was reserved, bid for just 11 per cent of the 2.29 crore shares earmarked for them. Employees sought 52 per cent of the 1.6 lakh shares reserved for them.

Gautam Adani now no longer among world's top 10 richest billionaires

In the last 24 hours, Adani's net worth has fallen $8.21 billion, the highest among the top 100 billionaires in the list

How the 'Madoffs of Manhattan' can unravel billionaire Adani's empire

According to Hindenburg, Adani insiders already own more than 75% of four publicly traded subsidiaries with the aid of offshore shell entities

Adani's $2.5 bn FPO faces critical final day amid Hindenburg turmoil

Adani is seeking to execute the landmark share sale just as it refutes allegations by Hindenburg that the Indian conglomerate used a web of companies in tax havens to inflate revenue and stock prices

Adani scandal puts India stock regulators' reputation on the line

India has successfully differentiated itself from other EMs, and even from China, through the transparency of its markets, quality of its markets regulator and its protections for minority investors

Counting losses: Adani group stock rout hits Rs 5.6 trillion in 3 days

Shares of Adani Green Energy and Adani Total Gas hit the 20 per cent lower circuit for a second day, closing at Rs 1,189 and Rs 2,342, respectively

Fraud can not be obfuscated by nationalism: Hindenburg on Adani's rebuttal

The US-based short seller said that the Adani Group 'tried to lead the focus away from substantive issues and instead stoked a nationalist narrative'

Adani group's market rout hits $72 bn as fight with Hindenburg escalates

The three-day selloff has now erased nearly $72 billion of market value amid a share sale by Adani's flagship that was meant to underline the tycoon's ascension on the global stage

Adani Group CFO says stocks rout similar to colonial-era massacre

'This is not merely an unwarranted attack on any specific company but a calculated attack on India'

Abu Dhabi-based firm IHC to invest $400 mn in Adani Enterprises FPO

IHC subscribed to 16 per cent of Adani Enterprises worth USD 2.5 billion FPO

Adani rebuttal to Hindenburg fails to stem concern, bond plunge quickens

Hindenburg said last week that it had taken a short position in Adani's companies through US-traded bonds and non-Indian-traded derivative instruments

Adani strikes back at Hindenburg. But can he win the perception war?

The Adani group has lost $50 billion in stock-market value over two trading days

Adani group hits back at Hindenburg, insists made full disclosure

Adani's response stated that over the past decade, its group companies have "consistently de-levered"

Top headlines: All eyes on growth in Budget, road project push, and more

Business Standard brings you the top headlines at this hour

Gautam Adani's $2.5 bn share sale faces crucial day after rout in stocks

For 60-year-old Adani, the stock market meltdown has been a dramatic setback for a school-dropout who rose swiftly in recent years to become the world's third richest man

Adani's $2.5 billion share sale faces crucial day after Indian rout

Adani faces a critical day on Monday with his flagship company's $2.5 bn share sale's second day of bidding overshadowed by a $48 bn rout in his stocks which was sparked by a US short seller's report

Adani risk casts doubt on Wall Street's star emerging-market bet

The Adani Group dismissed the report as "maliciously mischievous" and said it's exploring legal action

Adani confident of FPO sailing through; Sebi, other bodies probing sell-off

Richest Asian Gautam Adani's group on Sunday expressed confidence that the Rs 20,000 crore follow-on share sale of its flagship firm will sail through despite a massive hammering of the conglomerate's stocks following a scathing report by a US-based short seller. Group CFO Jugeshinder Singh said no change in offering price or schedule is being considered due to temporary volatility in the market as the follow-on public offer (FPO) of Adani Enterprises Ltd is the best vehicle for strategic institutional investors to own a pie of the conglomerate's fast expanding airports, mining, roads, new energy and data centre businesses. All seven Adani group companies' stocks fell sharply over the last two trading sessions, wiping out Rs 10.7 lakh crore of investor wealth after Hindenburg Research alleged that the ports-to-energy-to-cement conglomerate had engaged in "brazen stock manipulation and accounting fraud" for decades. The sell-off is being looked into by market regulator SEBI and stock

Kidnapped for ransom, 26/11 survivor Adani faces his biggest challenge yet

He was kidnapped by bandits in 1998 for ransom and when terrorists attacked Mumbai almost 11 years later, he was among the hostages held at the seafront Taj Hotel. College-dropout Gautam Adani's knack of surviving crises and his business acumen has propelled him to the ranks of India's richest but he now faces possibly the biggest challenge of his career. Hindenburg Research, a tiny New York firm that specialises in short selling, brought out a scathing report that has led to his group shedding more than USD 50 billion in market value in just two trading sessions and Adani himself losing in excess of USD 20 billion, or about one-fifth of his total fortune. The 60-year-old tycoon has now slipped behind Bill Gates and Warren Buffett to be the seventh-richest person in the world from the pre-Hindenburg position of being the third richest. More than his personal status, at stake is the reputation of an empire the first-generation entrepreneur built over three-and-half decades. The ...

No change in schedule, issue price of FPO, confident of success: Adani Ent

All our stakeholders including bankers and investors have full faith in the FPO, Adani Enterprise said in a statement