Adani Group
Former UK PM Boris Johnson's brother Lord Jo Johnson resigns as director of Adani-linked firm
Lord Johnson was appointed as a director in June of last year, but resigned on Wednesday, the same day that the Adani Group announced the withdrawal of its Follow-on Public Offer (FPO). Elara was one of the bookrunners on the FPO. Johnson explained that his resignation was due to a lack of "domain expertise".
3 Adani Group companies placed under short-term surveillance by BSE, NSE
The criteria for shortlisting these securities include high-low variation, client concentration, number of price band hits, close-to-close price variation, and price-earning ratio. The NSE and BSE have stated that these companies meet the standards for inclusion in the short-term ASM.
Adani Group has not pledged shares of Ambuja Cements and ACC Ltd
"We would like to clarify that none of the shares of Ambuja or ACC have been pledged by Promoters," a statement from Adani Group filed by ACC said. "The Promoters have only provided non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top up under the acquisition financing raised last year," the statement added.
Adani Enterprises calls off Rs 20K cr FPO, to return money to investors
"The Board of Adani Enterprises Ltd decided not to go-ahead with the fully subscribed follow-on public offer (FPO). Given the unprecedented situation and the current market volatility, the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," a statement issued by Adani Enterprises said on Wednesday.
Credit Suisse stops accepting Adani group bonds as collateral for margin loans: Report
The private banking arm of Credit Suisse has assigned a zero lending value for notes sold by Adani Ports and Special Economic Zone, Adani Green Energy, and Adani Electricity Mumbai Ltd. Previously, the bank offered a lending value of around 75% for Adani Ports notes.
Adani Group acquires Israel's strategic Haifa Port for $1.2 billion
Adani Group Chairman Gautam Adani appeared with Israeli Prime Minister Benjamin Netanyahu during the signing of the deal and spoke of investment opportunities. Prime Minister Netanyahu called the Haifa Port takeover a "significant milestone" that will improve connectivity between India and Israel in various ways, including transportation, air routes, and sea routes.
All outstanding ratings, including Adani company, under continuous surveillance: Acuite Ratings
In a regulatory filing, the LIC said the credit rating of all of the Adani debt securities held by LIC are 'AA' and above which is in compliance with the IRDAI investment regulations as applicable to all life insurance companies. Shares of Adani group's listed entities came down after short seller Hindenburg Research came out with a report alleging fraud by the Indian conglomerate.
Gautam Adani no longer in the list of world's 10 richest individuals
According to the Bloomberg Billionaires Index, Adani's wealth has dropped to $84.4 billion, leaving him in 11th place. The steep decline in Adani's fortune can be attributed to the recent report by Hindenburg Research, a New York-based short-seller. The report, which was released last week, accuses Adani and his companies of various fraudulent activities, stock manipulation, and malpractices. Adani Group, however, has rejected all such allegations.
Abu Dhabi's IHC to invest $381 million in Adani Enterprises FPO
The announcement comes at a time when Adani Enterprises, owned by Asia's richest man, Gautam Adani, has suffered major losses in its companies' market value. Despite the recent market turbulence, IHC remains confident in the fundamentals of Adani Enterprises, as reflected by its CEO, Syed Basar Shueb
Adani Group hits back with detailed responses to Hindenburg's unsubstantiated accusations
Adani Group's response also raises the questions against the ulterior motives and modus operandi of Hindenburg that has conveniently ignored the Indian judiciary and regulatory framework. The detailed response from Adani Group covered its governance standards, credentials, creditworthiness, best practices, transparent conduct, financial and operational performance and excellence.
Advertisement