Page 15 - Gautam Adani

Gautam Adani has no plans to set up family office overseas to manage wealth

Adani Group on Friday said the ports-to-energy conglomerate's Founder and Chairman Gautam Adani is not considering setting up a family office overseas to manage his wealth. With a USD 58 billion addition to his personal wealth propelling him to the throne of Asia's richest and world's third wealthiest man, it was reported that Adani was looking at Dubai or New York as the base for the office. "Neither Adani nor the Adani Family has any plan or is in consultations to open a family office overseas," the group said in a statement. Adani has a net worth of USD 135 billion.

Adani planning to open family office in Dubai or New York to manage wealth

Adani family is currently talking to consultants and tax experts about the plans; location of the office is still in flux, and may change based on the advice they receive and availability of resources

A portrait of Gautambhai

The emergence of the house of Adani is both unusual and remarkable. A new biography of the business tycoon attempts to lay bare the secrets behind his stupendous trajectory, but leaves many questions

Gautam Adani may set up family office overseas to manage ballooning wealth

The Adani family is currently talking to consultants and tax experts about the plans, the people said

Top headlines: Disinvestment target, RBI imposes penalty on 9 UCBs & more

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Sebi approves Adani's open offer for 26% additional stake in NDTV

Last week, the Adani group had revised the open offer timeline to Nov 22; offer price of Rs 294 a share is at a 24% discount to NDTV's closing price of Rs 365.85 on Monday

Adani group gets approval for NDTV open offer boosting takeover bid

Adani is now one step closer to gaining a larger footprint in India's media sector

Adani group to launch open offer for NDTV on November 22

The previous timeline for the open offer by Adani was October 17 to November 1

Top headlines: Adani to build plants in SL, active Indian firms near 1.5 mn

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Adani to build power plants in SL, challenge China in support for Modi

Adani has been accused by some Lankan lawmakers of signing opaque port, energy deals closely tied to India's interests, something his group has always denied, saying investments meet Sri Lanka's needs

Gautam Adani meets Eknath Shinde at Maharashtra CM's official residence

Adani Group chairperson Gautam Adani visited Maharashtra Chief Minister Eknath Shinde at his official residence in Mumbai, an official said on Wednesday. The Tuesday night meeting between Adani and Shinde lasted for nearly 45 minutes, the official said. Adani Group has interests in ports, airports, power generation and transmission, and real estate. The group supplies electricity to the Mumbai suburban district.

CreditSights says Adani Group continues to seek strategic partners

Richest Indian Gautam Adani's conglomerate continues to seek strategic equity partners aligned with its long-term investment strategy as it expands across the energy to transport to mining sectors, debt research firm CreditSights said. In a report, CreditSights said Adani Group is venturing into new or unrelated businesses, which are highly capital intensive. "We still hold our view that several of the Group companies maintain elevated leverage, owing to aggressive expansion plans that are largely debt-funded and that have pressurised their credit metrics and cash flows," it said. CreditSights said it expects Adani Group expansion and acquisition appetite to remain robust ahead, and incremental debt on account of expansion to outpace additional EBITDA generation, which could result in further credit profile deterioration. "We remain concerned over the Adani Group's leverage." The conglomerate may invest more than USD 150 billion over the next decade in expanding new energy busines

Decoded: Adani bucks the gloomy trend, adds $43.3 bn in net worth in a year

Billionaire Gautam Adani's wealth up relative to India's GDP, shows data

He was the only one in the top-5 billionaire who did not see a wealth decline over the last year

Adani Group to start taxi service with aggregators in its airport cities

The Group operates airports in Mumbai, Ahmedabad, Lucknow, Jaipur, Thiruvananthapuram, Guwahati and Mangaluru

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Adani Group considers raising $10 bn debt in lower-cost debt, green bonds

Gautam Adani's group is looking to raise at least $10 billion in new debt over the next year as his conglomerate seeks to refinance its high-cost borrowings and fund projects in the pipeline

$121-million Individual bond sale on the anvil for Adani Enterprises

Adani Ports' seven dollar-denominated notes have lost about 14% on average so far this year, while Adani Electricity Mumbai's 2030 securities have retreated about 17%.

S&P Global withdraws rating of Adani Transmission at firm's request

S&P Global Ratings withdrew its rating for Adani Transmission Ltd., ending an assessment of barely investment grade at the company's request

Adani Data Networks gets unified licence for full fledge telecom services

Adani Data Network has been granted unified licence for access services, which enables it to provide all telecom services in the country, according to two official sources. Adani Group entered the telecom sector after buying spectrum in the recent auction. "Adani Data Networks has been granted UL (AS)," an official source said. Another official said that the permit was granted on Monday. An e-mail query to Adani Group did not elicit any reply. Adani Data Networks Ltd (ADNL), a unit of Adani Enterprises Ltd, acquired the right to use 400MHz of spectrum in the 26GHz millimetre wave band worth Rs 212 crore for 20 years in the recent 5G spectrum auction. The Adani Group had said that it plans to use the airwaves for its data centres as well as the super app it is building to support businesses from electricity distribution to airports, and gas retailing to ports. "The newly-acquired 5G spectrum is expected to help create a unified digital platform that will accelerate the pace and s