Mukesh Ambani and Gautam Adani tiptoed around each other for years to reach the top two rungs of Asia’s wealth ladder. While one of them built an empire in telecom and retail, the other established a lock on transport and energy distribution. Increasingly, though, the two billionaires from India’s Gujarat state are starting to overlap, … Read more
Indian conglomerate Adani Group is exploring potential partnerships in Saudi Arabia, including the possibility of buying a stake in the world’s largest oil exporter, people with knowledge of the matter said. The group, led by Indian tycoon Gautam Adani, has held preliminary talks on a range of potential cooperation and joint investment opportunities with Saudi … Read more
The relationship “marks a strong beginning of Adani Group’s foray into media”, the statement said. India’s Adani Group is taking a minority stake in local digital business news platform Quintillion, the companies said in statement on Tuesday, marking billionaire Gautam Adani’s first bet in the news industry. The relationship between Adani Media Ventures and Quintillion … Read more
Gautam Adani, the Indian billionaire who turned a small commodities trading business into a conglomerate spanning ports, mines and green energy, is now Asia’s richest person. The 59-year-old mogul’s net worth reached $88.5 billion on Monday, according to the Bloomberg Billionaires Index, eclipsing fellow countryman Mukesh Ambani’s $87.9 billion. With an almost $12 billion jump … Read more
Adani Group has applied for a licence from the Reserve Bank of India to open an asset reconstruction company (ARC) that will acquire distressed assets in infrastructure and real estate, two people familiar with the matter said. “The plan has been in the making for at least eight months, and the application was filed earlier … Read more
After data centres and fulfilment centres (for ecommerce), Adani Enterprises (Adani) has further deepened it’s relationship with Flipkart by acquiring a significant minority stake in the latter owned Cleartrip – the air ticket booking platform. Adani is the country’s largest airport operator and the subject acquisition is targeted towards complementing the same and to also … Read more
Adani Enterprises, the flagship entity of the Adani Group, is in talks with at least half a dozen sovereign and global pension funds and energy majors, such as the Abu Dhabi Investment Authority (ADIA), the Qatar Investment Authority (QIA), a BNP Paribas arm and TotalEnergies SE, to raise up to $2 billion in equity sales. … Read more
The Supreme Court on Tuesday threw out Adani Gas Ltd’s challenge to the decision of the Petroleum and Natural Gas Regulatory Board (PNGRB) to award the city natural gas distribution (CGD) network for Sanand, Bavla and Dholka in Gujarat to Gujarat Gas. A bench of Justices U U Lalit, S R Bhat and Hrishikesh Roy … Read more
FMCG major Adani Wilmar on Monday said it has opened 12 physical stores under the brand name “Fortune Mart” across six states and plans to start outlets across the country. “Adani Wilmar is opening physical stores under the name Fortune Mart which will exclusively sell Fortune and other Adani Wilmar brand products,” the company said … Read more