Page 47 - Adani Group

Adani Group's firm plans to build 1,000-MW data centres in 10 years

Adani Group firm AdaniConneX is planning to build 1,000 megawatt data centres -- almost double the present size of the total industry -- over a period of 10 years, a senior company official said. AdaniConneX Senior Vice President and Head of Data Centre Business, Sanjay Bhutani said the the first seven data centres of the company will come up in Mumbai, Chennai, Hyderabad, Delhi, Bengaluru and Pune. "We are building 1,000 megawatt data centres. Today, the industry stands at 550 MW. Building 1,000 megawatt data centre in the next one decade is something which is our business plan," Bhutani said while speaking at 9.9 Group's CIO and Leader Conference on Saturday. Data centre capacity is measured in terms of power they consume. According to market research firm Arizton, India's data centre market size stood at 447 MW in 2021, valued at USD 10.9 billion. Bhutani said the six cities which will get first seven data centres will have total capacity of 450 MW over the next three years, whi

RRPR Holdings board has to act in its fiduciary capacity, say lawyers

This is for past contractual obligations made by RRPR Holdings

NDTV defers its annual meeting by a week amid Adani group's takeover bid

The media company said that the deferment was due to the processes required after the notice and public announcement of the open offer made by Vishvapradhan Commercial (VCPL)

NDTV defers AGM by a week to on Sep 27 amid Adani group's open offer

NDTV has deferred its Annual General Meeting (AGM) by a week to September 27 in view of the open offer from the Adani group to acquire a 26 per cent stake in the media company, according to a regulatory filing. The New Delhi Television Limited (NDTV)'s AGM was originally scheduled to be held on September 20. Last week, the Adani group announced to indirectly acquire 29.18 per cent shareholding in NDTV, and launch an open offer to buy an additional 26 per cent stake. "The 34th AGM of NDTV is being moved from September 20, 2022, to September 27, 2022 as a result of the processes required after the Notice and Public Announcement of the Open Offer made by VCPL (an indirect subsidiary of Adani Enterprises Ltd) to our public shareholders for acquiring up to 26 per cent of the Voting Share Capital of the Company," said Saturday late night filing. The AGM shall now be held on September 27, 2022 through Video Conference in accordance with the circulars issued by the Ministry of Corporate .

Adani makes Rs 31K-cr open offer to buy 26% stake in ACC, Ambuja Cements

Adani group on Friday launched its Rs 31,000-crore open offer to acquire 26 per cent additional stake from the public shareholders of Swiss firm Holcim's two Indian listed entities ACC Ltd and Ambuja Cements. In May this year, the Adani Group had announced that it had clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. Markets regulator Sebi granted approval for the open offer last week. The open offer is estimated at over Rs 31,000 crore if fully subscribed. In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer, launched by the Adani family group's Mauritius-based firm Endeavour Trade and Investment. As per the revised schedule submitted by ICICI Securities and Deutsche Equities India, managers to the open offer, the tendering of shares opens from August 26 and will end on September 9, 2022. In May, the Adani Group had made an open offer at Rs 385 per share for Ambuj

No Sebi nod needed: Adani Group counters NDTV promoters' defence

VCPL said the contentions raised by RRPR Holdings in a letter are baseless, legally untenable and devoid of merit.

Top headlines: S&P ups India inflation forecast, green hydrogen, and more

S&P Global Ratings raises India's inflation forecast to 6.8% for FY23. India Inc's next big thing could be green hydrogen

Sebi approval not needed for buying NDTV shares: Adani Enterprises

Says any subsequent attempt to return money received or original warrant certificate will have no legal effect on exercise of warrants by VCPL

Adani says regulatory curbs do not restrict bid to take over NDTV

NDTV sought to block tycoon Gautam Adani's move, saying its founders Prannoy and Radhika Roy have since 2020 been barred by the SEBI from buying or selling shares in India's securities market

Debt ratio at Adani's green firm needs 'watching' as it soars to 95.3%

Gautam Adani owned company's debt-to-capital ratio has soared to 95.3%, a level that is on the "higher side" for a private company

Debt-funded acquisitions can put pressure on Adani group ratings: S&P

Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a USD 10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt. S&P Global Ratings Senior Director (Infrastructure Ratings) Abhishek Dangra said the growth ambitions for most of the group entities are fairly high and they have also grown through acquisitions across multiple entities. "If you look at the rated entities (of Adani group), like Adani Ports, their business fundamental is fairly solid. Port business is generating healthy cash flows. Where, probably, the risk could lie ...

Sensex tanks 709 pts from day's high, ends 311 pts down; Nifty holds 17,500

F&O Expiry: 25 of the 30 Sensex constituents and 34 of the 50 Nifty constituents ended in the negative territory including Adani Ports, Bajaj Finance, IndusInd Bank, Infosys, TCS, Axis Bank, and HDFC

Sebi approval needed for Adani to secure promoter group's stake: NDTV

Regulator in 2020 barred Prannoy and Radhika Roy from selling their shares, says news company

This Dolly Khanna portfolio stock delivered over 150% returns in 3 months

Shares of NDTV were locked at the 5 per cent upper circuit for the second straight day, hitting a 14-year high at Rs 403.70 on the BSE on Thursday and rallied 156 per cent in past three months.

Top Headlines: NDTV-Adani ownership battle, sugar exports, and more

New Delhi Television (NDTV) can prevent a takeover by the group if it can buy more shares from public shareholders, corporate lawyers told Business Standard

TMS Ep245: Semiconductor chip, low paddy acreage, markets, hostile takeover

Will India become a global player in semiconductor chips? Lower paddy acreage: How will it affect India? Adani acquires stake in NDTV: Will retail investors benefit? What is a hostile takeover?

Adani Group firms' valuation premium over Sensex surges to new high

The overtaking happened in the first half of FY21 and the group stocks continued to become expensive compared to the broader market

What is a hostile takeover?

The remarks made by NDTV's promoters suggest the takeover was against their wishes. Some are even calling it a 'hostile takeover'. Our next report tells more about it

As Adani vies for majority, NDTV becomes priciest electronic media stock

Trading at P/E multiple of 28.5x - nearly 50% higher than industry average of 18.6x

Retail investors to gain from Adani's takeover bid for NDTV: Analysts

At the bourses, NDTV has been one of the best performing stocks. In the past three months, the counter has gained nearly 140 per cent, as compared to 8 per cent rise in the S&P BSE Sensex