Page 5 - Gautam Adani

Gautam Adani loses $11.9 bn, trails Musk in 2025's biggest wealth falls

Gautam Adani, now 23rd on the index, saw his net worth drop $11.9 billion to $66.8 billion, while Elon Musk faced a larger $35.2 billion decline, bringing his total wealth down to $397 billion

Adani Group touts cash, strong Ebitda growth to reassure investors

Adani Group on Thursday said it has enough cash to service debt obligations and that its business achieved record pre-tax profits in the 12 months ending December 2024 as it looked to reassure creditors and investors of a robust business profile. Cash balances exceed long-term debt repayments for the next 28 months, while portfolio-level cash balances were at Rs 53,024 crore, the port-to-power conglomerate said in a report for the first nine months of the financial year ending March 2025 released on Thursday. "Sufficient liquidity is maintained across portfolio companies to cover debt servicing requirements for at least the next 12 months," it said. The cash balance as of September 30, 2024, compared with the Rs 59,791 crore balance generated in the full 2023-24 financial year (April 2023 to March 2024 or FY24 fiscal). Cash balance represents 20.5 per cent of gross debt. "These expanding cash flows have enabled consistent investments while keeping the leverage at an all-time low.

US invokes Hague Service Convention in Adani bribery probe: What is it?

The US SEC has invoked the Hague Service Convention to serve legal documents to Gautam Adani and his nephew Sagar Adani. Here's you need to know about the convention

Adani stocks crack up to 5% as US SEC seeks India's help in bribery case

Adani bribery case, Adani share price: US federal prosecutors have accused Gautam Adani of bribing Indian government officials to buy electricity from Adani Green Energy

Efforts to serve complaint on Gautam Adani, Sagar Adani ongoing: US SEC

The US Securities and Exchange Commission (SEC) has told a federal judge here that its efforts to serve its complaint on Gautam Adani and Sagar Adani in the alleged bribery scheme are ongoing, including through a request for assistance to the Indian authorities. The SEC submitted a status update Tuesday to Judge Nicholas Garaufis at the United States District Court, Eastern District of New York regarding its efforts to serve its complaint on Gautam Adani and Sagar Adani. The SEC said that both Gautam Adani and Sagar Adani are located in India, and the SEC's efforts to serve them there are ongoing, including through a request for assistance to the Indian authorities to effect service under the Hague Service Convention for Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters. The SEC said that its complaint dated November 20 last year alleges that Gautam Adani and Sagar Adani violated the antifraud provisions of the federal securities laws by knowingly

US SEC requests help from Indian authorities in Adani fraud probe

Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy

Adani Group pledges Rs 2,000 crore to establish schools across India

Adani group on Monday announced Rs 2,000 crore donation for building at least 20 schools across the country as it continued to reveal details of the Rs 10,000 crore charity committed at the wedding of founder Gautam Adani's younger son. The conglomerate had previously announced Rs 6,000 crore for constructing hospitals and another Rs 2,000 crore for skill development. The Adani Foundation, the philanthropic arm of Gautam Adani-led group, "has collaborated with GEMS Education, a global leader in private K-12 education, to establish temples of education across the country. "With an initial donation of INR 2,000 cr from the Adani family, the partnership will prioritize making world-class education and learning infrastructure affordable to people from all strata of society," it said in a statement. Earlier this month, Adani had committed to spending Rs 10,000 crore on social causes when his younger son Jeet tied nuptial knots. Stating that the partnership with GEMS Education will also

Gautam Adani urges students to look beyond exams after UP girl's suicide

Adani expressed his deep sorrow over the girl's death, saying it's heartbreaking to see a young life lost due to the burden of expectations

Adani Group signs $207 million private loan for Australia coal port unit

The ability for Adani to secure new debt demonstrates that it is recovering from a fallout after the US indicted Gautam Adani over a bribery plot in November

US Congressmen slam Biden admin for 'misguided crusade' against Adani Group

The six Congressmen questioned why the DOJ proceeded with the indictment despite the allegations being centred in India, involving Indian officials

Adani group stocks in focus; Enterprises, Power, Green Energy gain up to 4%

Gautam Adani, Chairman of the Adani Group, has announced the launch of Adani Health City integrated health campuses, to be implemented through the Group's not-for-profit healthcare arm

Adani plans to donate Rs 6,000 cr to set up health infra with Mayo Clinic

The AHCs will comprise 1,000-bed multi-specialty hospitals, medical colleges and research facilities, among others

Adani to spend Rs 6,000 cr on setting up health infra with Mayo Clinic

Adani Group will spend Rs 6,000 crore in setting up two 1,000-bed multi-specialty hospitals and medical colleges in Mumbai and Ahmedabad in partnership with Mayo Clinic. The expenditure is part of Rs 10,000 crore that Gautam Adani, chairman of Adani Group, had pledged when his younger son Jeet got married last week. Mayo Clinic, the world's largest integrated not-for-profit medical group practice, will provide technical expertise, Adani Group said in a statement. "Adani Group will fully meet the cost of building affordable, world-class medical care and medical education to people from all strata of society pan India," it said. "The family will donate upwards of Rs 6,000 crore to build the first two of these integrated health campuses in Ahmedabad and Mumbai." Gautam Adani has plans for more such integrated Adani Health Cities in cities and towns across India, the statement said without giving details. Each of these integrated campuses will comprise 1,000-bed multi-super-specialty

Adani donates Rs 10,000 crore from personal wealth for social projects

Announcement made on the occasion of son's wedding

Adani visits Prayagraj, says Kumbh a blueprint for sustainable civilisation

Fresh from paying a visit to Maha Kumbh Mela in Prayagraj, billionaire Gautam Adani on Monday said the world's largest human gathering is not just religious but a blueprint for sustainable civilisation. "As India marches towards becoming a global superpower, we must remember: our strength lies not just in what we build, but in what we preserve," he said. "The Kumbh isn't just a religious gathering it's a blueprint for sustainable civilisation." In a blog on LinkedIn, he said the Kumbh Mela is a reminder for that true scale isn't measured in balance sheets but in positive impact on human consciousness. "In the Kumbh, we see the essence of India's soft power - a power not rooted in conquest but in consciousness, not in dominance but in service. India's true strength lies in its soul, where growth is not just economic power but a confluence of human consciousness and service. "This is the lesson Kumbh teaches us - that true legacy is not in structures built, but in the consciousness

Adani Wilmar starts Rs 1,300-cr food processing plant in Haryana's Sonepat

Edible oil firm Adani Wilmar Ltd has commenced operation of its food processing plant at Sonepat, Haryana, which it has established with an investment of nearly Rs 1,300 crore. In a regulatory filing on Thursday, Adani Wilmar said the company has commenced operations at its integrated food processing plant in Gohana, District Sonepat. "This food complex is one of the largest in the country built with a capital outlay of Rs 1,298 crore coming from IPO proceeds," the company said. The plant will help generate 2,000 direct and indirect employment in Haryana. The facility spread across 85 acres, has a total annual production capacity of 6.27 lakh tonnes. The plant will manufacture 4,50,000 tonnes of food products including rice, wheat flour, suji, rawa, and maida, along with 2 lakh tonnes of edible oils such as mustard oil, rice bran oil, and cottonseed oil, apart from Mustard DOC and Ricebran DOC for animal feed. Last month, business conglomerate Adani Group announced its exit from A

Meet Diva Shah, daughter of diamond tycoon, set to wed Adani's youngest son

On February 7, 2025, Gautam Adani's son Jeet Adani is set to marry Diva Jaimin Shah. Diva Shah is the daughter of diamond trader Jaimin Shah, owner of C Dinesh & Co. Pvt. Ltd

Taylor Swift at Jeet Adani's wedding? Gautam Adani clears the air

Taylor Swift will not be attending Jeet Adani's wedding. Gautam Adani has debunked the rumors, confirming that the ceremony for his son Jeet and Diva Shah will be a simple, private affair

Adani's son to wed on Feb 7 in simple ceremony, no celebrity stars invited

Billionaire Gautam Adani's younger son Jeet will wed next month in a simple and traditional ceremony, without any pomp and show and celebrity stars. Adani, on Mahakumbh pilgrimage with his family, scorched speculations of a star-studded wedding of his son Jeet with Diva Shah, daughter of Surat diamond merchant Jaimin Shah. "It will be a very simple, traditional marriage... just like common people," he told reporters here. Ahead of the marriage, it was being speculated that the wedding will be another extravagant spectacle after rival billionaire Mukesh Ambani's youngest son Anant's. Responding to a question if the wedding were going to be a "Maha Kumbh of celebrities", the billionaire said, "Definitely not!" In recent days, social media has been abuzz with speculations that the guest list at the wedding could include likes of Elon Musk to Bill Gates, with Taylor Swift performing. Jeet, 28, got engaged to Diva in March 2023 in a private ceremony in Ahmedabad. The wedding is also to

Will increase investment in UP: Adani after participating in Maha Kumbh

Gautam Adani, Chairman of the Adani Group, visited the Maha Kumbh on Tuesday along with his wife Preeti Adani and said that his group is committed to increasing investment in Uttar Pradesh. "There are immense opportunities in Uttar Pradesh, and the state government is working in the right direction for development. The Adani Group will continue to contribute to this progress. We are committed to making further investments in Uttar Pradesh," he told the media. About his experience at the Maha Kumbh, he said, "I would like to thank Prime Minister Narendra Modi and Chief Minister Yogi Adityanath, on behalf of the citizens of the country, for the grandeur and the arrangements here." He further added, "Millions of people come to this fair, and the cleanliness and other arrangements here are a subject of study for management institutes and corporate houses. It has been an amazing experience to be here." An official from the company informed that Gautam Adani along with his wife and Adani