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Speaking to reporters after the announcement of results, SBI Chairman Dinesh Khara clarified that the non-fund exposure is limited to letters of credit and performance bank guarantees, and is not related to any equity raising or acquisition activities of the Gautam Adani-led group
As bank lending to Adani Group entities is now under regulatory scanner, banks say they became wary of increasing their exposure limits to the multi-billionaire-backed Adani Group companies by early 2022. By around July or August last year, most banks, especially those in the private sector, decided that they would not increase their exposure to … Read more
The Board of Adani Enterprises Ltd (AEL) decided not to go-ahead with the fully subscribed Follow-on Public Offer (FPO) after the group stocks got routed on the stock exchanges on Wednesday. “Given the unprecedented situation and the current market volatility, the company aims to protect the interest of its investing community by returning the FPO … Read more
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The start of 2023 was meant to be India’s. The nation’s fast-growing economy and rapidly expanding equity markets had convinced money managers from Morgan Stanley Investment Management to State Street Global Advisors to call it a top investment destination. Then came the $50 billion selloff in billionaire Gautam Adani’s corporate empire. It’s a shock that forces Wall … Read more
The follow-on public offer (FPO) by Adani Enterprises (AEL) has been off to a rocky start, with serious allegations from an overseas short-seller emerging on the eve of the issue. With the AEL share price trading 11-15 per cent below the offer price of ₹3,112-3,276, the FPO, which is open between January 27 and 31, … Read more
Congress party on Friday demanded “serious investigations” by the Reserve Bank of India (RBI) and market regulator Securities and Exchange Board of India (SEBI) into the series of extraordinary allegations levelled by US short seller Hindenburg Research against the Adani Group. Serious investigations are necessary for wider public interest given the high exposure of financial … Read more
Four of Adani’s listed companies are on the brink of the delisting threshold due to high promoter ownership, according to a report released by Hindenburg Research, an investment research firm with a focus on activist short-selling. The report also said that five companies in the group (all but Adani Ports and Adani Wilmar) have current … Read more
The transfer of shares will give the Adani Group control over a 29.18 per cent stake in NDTV. The port-to-power conglomerate is also conducting an open offer for another 26 per cent stake in the media firm. The open offer, which began on November 22, has seen shareholders tender 5.3 million shares, or 31.78 per … Read more
Gautam Adani, the man on a mission and promoter of the Adani Group, is poised to become the world’s richest with the addition of two new listed entities — Ambuja Cementand ACC — under his fold. Thanks to the relentless rally in the Indian equity market, Adani is already ranked number two, just behind Tesla’s … Read more