The rating agency CRISIL, the Indian arm of Standard and Poor’s (S&P), today said that it keeps all outstanding ratings, including that of Adani group entities under continuous surveillance. Any adverse regulatory or government action in the wake of the research report, emerging issues around corporate governance will be key monitorable, CRISIL said in a … Read more
Gautam Adani’s beleaguered empire is spiraling into crisis, as the fallout from a short-seller’s fraud allegations leads to a worsening meltdown in the indebted conglomerate’s securities. Bonds of the Indian billionaire’s flagship firm plunged to distressed levels in US trading, and the company abruptly pulled a record domestic stock offering after the Adani group suffered … Read more
In line with the recent speculations, Board of Adani Enterprises (AE) has approved raising of further equity from public (FPO) aggregating up to Rs 20,000 crore. Proposal is subject to the existing shareholders’ approval which should not be a challenge given it’s shareholding structure – at September 2022 end, promoters held 72.62%, FIIs 19.12%, DIIs … Read more
On Aug 24, 2022, AMG Media Networks Limited (AMG), a wholly owned subsidiary of Adani Enterprises, bought 100% of the equity stake in Vishvapradhan Commercial Private Limited (VCPL) for Rs 113.74 crore. It is through this company (VCPL) that Adani Enterprises is acquiring indirect stake in NDTV. VCPL held warrants of Radhika Roy Prannoy Roy … Read more
Ports-to-energy conglomerate Adani Group has forayed into copper manufacturing with tying up of finances from public sector lenders for a 1 million tonnes a year unit at Mundra in Gujarat. “Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for production of refined copper with … Read more
The Adani family plans to bring in $3 billion as promoter equity for its $10.5 billion buyout of Holcim Ltd’s stake in ACC Ltd and Ambuja Cements Ltd, while banks will finance the rest, two people aware of the financing agreement said. On 15 May, the Adani family said the acquisition would be funded through … Read more
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim’s stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd’s … Read more
Adani Enterprises Limited (AEL) has announced the acquisition through it’s wholly owned subsidiary, AMG Media Networks Limited (AMG). Key points to note – Acquisition is of 49% stake in Quintillion Business Media Limited (QBML) QBML owns and operates a business and financial news digital media platform, viz., www.bqprime.com (formerly known as www.bloombergquint.com). Previously on March … Read more
Gautam Adani’s conglomerate is in advanced talks to acquire Holcim Ltd.’s businesses in India, according to people familiar with the matter. The billionaire’s Adani Group could sign an agreement to acquire a controlling stake in Ambuja Cements Ltd. from Holcim as soon as in the coming days, the people said, asking not to be identified … Read more