Gautam Adani

With Adani, Agarwal under scrutiny, India's privatisation drive stalled

Of three dozen companies originally identified for sale, officials are now left with a list of just 17 - 10 unlisted and 7 listed - largely because of legal and insolvency issues.

The Pawar gambit: Why did the Maratha strongman come to Adani's defence?

It may be too early to say that the political chameleon from Maharashtra is changing colours again

$2.6 bn stake sale money came in group firms: Adani counters Rahul Gandhi

Billionaire Gautam Adani's group on Monday listed out details of the USD 2.87 billion stake sales in group firms since 2019 and how USD 2.55 billion of this was ploughed back into business, as it looked to counter Congress leader Rahul Gandhi's claim of Rs 20,000 crore coming in to the conglomerate through 'shell companies'. While investors such as Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC) invested USD 2.593 billion in group firms such as Adani Enterprise Ltd and Adani Green Energy Ltd (AGEL), promoters sold stake in Adani Total Gas Ltd and AGEL to raise USD 2.783 billion. "These funds were reinvested by promoter entities to support the growth of new business and in portfolio companies such as Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Adani Transmission Ltd and Adani Power Ltd," the group said. The statement was issued rebutting reports in an international publication, which apparently was the basis of ...

Adani Power commences supply to Bangladesh from Godda plant in Jharkhand

Supply was to start in March. However, Bangladesh Power Development Board had sought relief from rising imported coal prices. Unit will source coal from Adani-owned Carmichael mine in Australia

Adani issue being raked up to 'brighten' Rahul's political career: Rijiju

Union Law Minister Kiren Rijiju on Saturday attacked Congress leader Rahul Gandhi, saying he has failed politically, and claimed the Adani issue is being "deliberately" raked up to "brighten his political career". He also accused the Congress of undermining the judiciary and said if the opposition party tries to "tear apart" the Constitution by attacking the judiciary, "we will not stay silent". "I am not going to make any comment on it (the Hindenburg-Adani issue) as the Supreme Court has already formed a committee and is looking into it. But I want to say that this all is being done to brighten the political career of Rahul Gandhi," Rijiju told reporters on the sidelines of a function at the University of Jammu here. He said it is "deliberately" being made into an issue. "The country is run by the Constitution and the law of the land. One man has failed politically and they are trying to highlight controversies, make an issue out of these to brighten his career," the senior BJP .

SC committee on Adani issue will have limited terms of reference: Congress

The Congress on Saturday said the Supreme Court committee to look into the Hindenburg research report on Adani group has limited terms of reference and "cannot bring out the deep nexus between" the prime minister and the billionaire businessman. The remarks came soon after Nationalist Congress Party (NCP) supremo Sharad Pawar said this panel will be more useful and effective than a joint parliamentary committee to probe the Adani issue. "The Supreme Court Committee has very limited terms of reference. It cannot bring out the deep nexus between PM and Adani," said AICC general secretary Jairam Ramesh. "Only a JPC can find answers to the HAHK (Hum Adanike Hain Kaun) series of 100 questions and more that are emerging," he also said, adding that the "JPCs in 1992 and 2001 were both worthwhile exercises". Congress leader Rahul Gandhi also tweeted in Hindi, "They hide the truth, that's why they mislead everyday! The question remains the same - who's Rs 20,000 crore benami money is in ...

GQG Partners sees $2 billion Adani bet delivering returns over 100%

The Adani Group lost as much as $153 billion in market value after a US short-seller accused the conglomerate of stock-price manipulation

Ambani regains Asia's richest person spot, Adani tumbles to 24: Forbes

Steel magnate Lakshmi Mittal was ranked at No. 5 followed by OP Jindal Group matriarch Savitri Jindal, Sun Pharma's Dilip Shanghvi and Radhakishan Damani, whose Avenue Supermarts owns the DMart

Sebi to probe Adani offshore deals for possible rule violations: Report

The three entities allegedly entered into several investment transactions with unlisted units of the ports-to-power conglomerate founded by billionaire Gautam Adani over the last 13 years

Sebi probing some Adani offshore deals for possible rule violations: Report

The three entities allegedly entered into several investment transactions with unlisted units of the ports-to-power conglomerate founded by Gautam Adani over the last 13 years, the report said

Adani Group relocating key roles at ACC, Ambuja Cements to Ahmedabad: Rpt

People holding leadership roles are now based out of Ahmedabad but their teams are working from Mumbai and the teams have to spend a substantial time travelling back and forth between the cities

Adani pins hopes on 20% earnings growth every year to repay $23 bn debt

Embattled Adani Group is looking at a 20 per cent growth in earnings across businesses spanning from sea ports to airports, edible oil and commodities, energy, cement and data centres, to repay about USD 23 billion of debt over the next 3-4 years in a comeback strategy, sources said. Adani group executives have met bankers, bond holders, analysts and investors from Singapore to the US in the last three weeks to address stakeholders' concerns in the aftermath of a damning US short seller report that ripped off USD 135 billion in market value of listed companies of the conglomerate. Sources aware of the development said Adani at these roadshows presented the growth story of the sprawling conglomerate that is refocusing its energies on higher efficiency in business and bringing down debt rather than breakneck speed expansion. The group saw a 20 per cent growth in EBITDA or earnings before interest, taxes, depreciation, and amortization, helping it pare debt. Between 2013 and 2022, ...

Adani airports' duty-free shops to give more space to non-liquor items

Liquor ++ strategy for extracting maximum revenue from duty-free shops at seven airports run by the group

CRISIL lowers outlook on Adani Airport Holdings from 'stable' to 'negative'

The outlook revision indicates that the standalone credit profile of AAHL may weaken

Adani group met Pimco, BlackRock for potential private bond placement

Adani seeks to reassure international investors that the ports-to-power empire's finances are under control

Fitch says, two Adani entities facing 'heightened contagion risks'

(Reuters) -Ratings agency Fitch said two Adani Group subsidiaries were exposed to "heightened contagion risks", possibly affecting their financial flexibility

Rajya Sabha adjourned till Monday amid Oppn uproar over Adani issue

Rajya Sabha proceedings were adjourned till Monday amid uproar with Opposition members raising slogans demanding a JPC probe into the allegations against the Adani Group. Soon after the Upper House reassembled at 2 pm, following an adjournment in the pre-lunch session, Chairman Jagdeep Dhankhar gave the floor to Secretary General PC Mody to inform the members about a message from Lok Sabha that the Competition (Amendment) Bill, 2022 has been passed and laid a copy of the bill amid slogan shouting by the opposition MPs. The chairman then took up the motion for nomination to the Joint Committee on the Forest Conservation Amendment Bill, 2023 and asked Environment Minister Bhupender Yadav to move it. Yadav moved the motion to nominate Rajya Sabha members Ashok Bajpai, Anil Baluni, Samir Oraon and CM Ramesh (all BJP), Jawhar Sircar (AITC), Prashanta Nanda (BJD), Hishey Lachungpa (SDF), Birendra Prasad Baishya (AGP) in the committee besides two members to be nominated by the chairman. A

Adani Ent zooms 7% as Group CFO refutes report of incomplete debt repayment

The Group refuted The Ken news report, stating it as "baseless and deliberately mischievous".

Adani's AMG Media acquires 49% in Quintillion Business Media for Rs 48 cr

Billionaire Gautam Adani's AMG Media Networks has acquired about a 49 per cent stake in Raghav Bahl-curated digital business news platform Quintillion Business Media Pvt Ltd for about Rs 48 crore. In a stock exchange filing, Adani Enterprises Ltd said its subsidiary AMG Media Networks Ltd has completed the acquisition which was originally announced in May last year. The transaction was completed on March 27 for "Rs 47.84 crore", it said. Quintillion Business Media runs the news platform Bloomberg Qunit, now called BQ Prime. Adani group had set up AMG Media Networks for its foray into businesses of "publishing, advertising, broadcasting, distribution of content over different types of media networks". In May last year, it had signed a shareholders' agreement with Quintillion Media Ltd (QML) and QBML. In September 2021, it hired veteran journalist Sanjay Pugalia to lead its media company Adani Media Ventures.

Billionaire mining tycoon Anil Agarwal fights to clear Vedanta's debt

Vedanta's quest to raise cash comes during a rocky time for India's business elite. Highly leveraged conglomerates are under increased scrutiny after a short seller accused Gautam Adani