Congress raises questions over Dharavi project rebidding, asks if tender conditions changed to benefit Adani
NEW DELHI: The Congress on Tuesday alleged that the Maharashtra government’s Dharavi project rebidding ”deliberately excluded” the previous winner, and asked if the tender conditions were changed to help Prime Minister Narendra Modi’s ”favourite business group” Adani. The opposition led by the Congress has been seeking a Joint Parliamentary Committee probe after the Hindenburg Research […]
Adani group seeks to sell stake in Ambuja Cements for $450 million
NEW DELHI: Gautam Adani is seeking to sell a stake in Ambuja Cements for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter. Adani on Thursday made a formal request to international lenders to sell 4 per cent to 5 per cent in Ambuja Cements, his cement business, the […]
Prime Minister Narendra Modi will do his best to avert Adani issue in Parliament: Rahul Gandhi
NEW DELHI: Congress leader Rahul Gandhi on Monday said Prime Minister Narendra Modi will do his best to avert a discussion on the Adani issue in Parliament, asserting that the country should know what power is behind the billionare businessman. “Modi ji will do his best to avert a discussion on Adani ji in Parliament. […]
Adani group to invest $150 billion in pursuit of $1 trillion valuation
NEW DELHI: Richest Asian Gautam Adani’s group will invest over USD 150 billion across businesses ranging from green energy to data centres to airports and healthcare as it chases the dream to join the elite global club of companies with USD 1 trillion valuations. On October 10, Adani Group Chief Financial Officer Jugeshinder ‘Robbie’ Singh […]
Rajasthan government hasn’t given any preferential treatment to Adani: Rahul Gandhi
TURUVEKERE: A day after Gautam Adani pledged huge investments in Rajasthan, Rahul Gandhi said on Saturday the Congress government in the state has not given any preferential treatment to the industrialist and asserted that he is not against corporates but monopolies. Addressing a press conference here, Gandhi also said if the Rajasthan government gives business […]
Adani becomes India’s second-largest cement player after Ambuja, ACC deal
NEW DELHI: The Adani Family, through Endeavour Trade and Investment Ltd (“BidCo”), a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations. The value of […]
Adani to acquire Holcim India assets for $10.5 billion
NEW DELHI: Asia’s richest man Gautam Adani’s group on Sunday said it had clinched a deal to acquire a controlling stake in Holcim Limited’s businesses in India for $10.5 billion, marking the ports-to-energy conglomerate’s entry into the cement sector. The Adani Group will acquire 63.1 per cent of Ambuja Cements Limited along with related assets. […]
Adani wins NTPC’s coal supply tender as Narendra Modi government acts to avoid energy crisis
Rajesh Kumar Singh NEW DELHI: Adani Enterprises Ltd. has won a contract to supply overseas coal to India’s top electricity generator as the nation aims to avoid a repeat of last year’s energy crisis, according to people familiar with the matter. Adani, India’s largest trader of imported thermal coal, will deliver 1 million tons to […]
Adani wins 300 MW wind energy capacity at Rs 2.77/unit
NEW DELHI: Auctions for 1,200 MW conducted by SECI on Monday saw wind power tariffs dropping to as low as Rs 2.77 per unit, sources said. According to the sources, Solar Energy Corporation of India (SECI) on Monday conducted auction for a total of 1,200 MW of wind power generation capacity. SECI is the nodal […]
Adani’s deal to buy stake in Odisha Power Generation Corp cancelled
NEW DELHI: Adani Power’s agreement with AES OPGC Holding and AES India for acquisition of 49 per cent stake in the Odisha Power Generation Corporation (OPGC) has been cancelled as the Odisha government, which holds 52 per cent stake in OPGC has exercised the right of first refusal. In June, Adani Power Ltd had entered […]
Can improve DHFL offer, forfeit deposit of those against recoveries: Adani
NEW DELHI: Billionaire Gautam Adani’s roads-to-mining group has indicated that it can improve on its Rs 33,000 crore takeover offer for collapsed housing lender DHFL and has sought forfeiture of deposits of bidders seeking to vitiate auction by questioning maximum recovery of public money. In an email written to the administrator, who is running the […]
French giant Amundi threatens to divest SBI bonds over Adani coal mine loan
NEW DELHI: One of the State Bank of India (SBI)’s investors, French giant Amundi has announced that it would sell off its SBI green bonds if the bank grants a Rs 5,000 crore loan to Adanis Carmichael coal mine in Australia. Amundi holds 37 per cent stake in SBI Mutual Fund in the venture with […]
Adani completes Rs 1,300 crore acquisition of Alipurduar Transmission
NEW DELHI: Private sector transmission entity Adani Transmission Ltd. (ATL) has acquired Alipurduar Transmission Limited from Kalpataru Power Transmission Ltd. (KPTL) for an enterprise value of Rs 1,300 crore. The acquisition involves ATL picking up 49 per cent stake in Alipurduar Transmission initially. The balance 51 per cent stake will be acquired after obtaining requisite […]
Adani, Piramal, Oaktree may vie for entire DHFL portfolio in fresh bids
By Rituraj Baruah MUMBAI: In a major turn of events in the DHFL resolution process, the Committee of Creditors (CoC) is likely to invite fresh bids for the bankrupt NBFC and sources say that Adani Group, Piramal Enterprises and Oaktree may bid for the entire portfolio of the company. The lenders are likely to begin […]
Adani likely to enhance DHFL bid, may vie for entire portfolio
NEW DELHI: Adani Group has offered to further enhance its bid for the Dewan Housing Finance Corporation Ltd (DHFL) and has shown interest in bidding for the entire portfolio of the bankrupt company. According to sources, Adani Group representatives had a meeting with the lenders on Friday on the matter wherein they offered to pay […]
Oaktree, Adani, and Piramal submit higher bids for DHFL
NEW DELHI: Interested bidders have submitted higher bids for DHFL to the Committee of Creditors, (CoC). DHFL COC is likely to meet early next week to consider the revised bids from all the bidders. Dewan Housing Finance Corporation Ltd. (DHFL) is a deposit-taking housing finance company, headquartered in Mumbai with branches in major cities across […]