DIRS.INFO The most relevant business & tech news

☆ Gulf investors bid for India's Adani Enterprises' $2.5 bln FPO - Bloomberg News
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Mubadala Investment Co PJSC and BNP Paribas SA (BNPP.PA) have also bid for shares, the report said, adding that the anchor book was oversubscribed about two times. Adani Enterprises last week set the floor price for India's largest FPO at 3,112 rupees per share with a price cap of 3,276 rupees apiece. While bidding for anchor investors began on Wednesday, bidding for retail investors will commence from Friday, with the offer closing for both sets of investors on Jan. 31. Spokespersons for Adani Enterprises, LIC and SBI Life did not immediately respond to a Reuters request for comment. Adani has said it will use 108.69 billion rupees from the FPO to fund green hydrogen projects, airports facilities and greenfield expressways.

☆ Explainer: Who is behind Hindenburg, the company that is shorting Adani?
▼ + stars: | 2023-01-25 | by ( Carolina Mandl | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 25 (Reuters) - Short-seller Hindenburg Research disclosed on Wednesday short positions in India's Adani Group, citing potential stock manipulation and accounting fraud in a report. WHAT IS HINDENBURG RESEARCHFounded in 2017 by Nathan Anderson, Hindenburg Research is a forensic financial research firm which analyses equity, credit and derivatives. On its website, Hindenburg says it looks for "man-made disasters," such as accounting irregularities, mismanagement and undisclosed related-party transactions. After finding potential wrongdoings, Hindenburg usually publishes a report explaining the case and bets against the target company, hoping to make a profit. HOW MANY COMPANIES HAS HINDENBURG TARGETEDHindenburg has flagged potential wrongdoing in at least 16 companies since 2017, according to its website.

☆ India's Adani Group plans to demerge more business; dismisses debt concerns
▼ + stars: | 2023-01-21 | by ( M. Sriram | ) www.reuters.com time to read: +2 min

MUMBAI, Jan 21 (Reuters) - India's Adani Group, controlled by billionaire Gautam Adani, plans to spin off more businesses by 2028 and dismisses any debt concerns, the group's chief financial officer told Reuters. The Adani group has spun off its power, coal, transmission and green energy business in the last five-seven years. The company plans to use the money to fund green hydrogen projects, airport facilities and Greenfield expressways, besides paring its debt, it earlier said. CreditSights, part of the Fitch Group, described the Adani Group in September 2022, as "overleveraged" and said it had "concerns" over its debt. "Nobody has raised debt concerns to us.

☆ India's Adani partners with Leyland, Ballard to make hydrogen fueled electric truck
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

The project led by Adani, will have Ballard supply the fuel cell engine, while Indian truck maker Ashok Leyland will provide vehicle and technical support for the project. If the devices that do that, electrolysers, are powered by renewable energy, the product is called green hydrogen. The Indian government had recently approved an incentive plan of 174.9 billion rupees ($2.11 billion) to promote green hydrogen and had set green hydrogen consumption targets for some industries earlier this month. Indian companies such as Reliance Industries (RELI.NS), Indian Oil (IOC.NS), NTPC (NTPC.NS), Adani, JSW Energy (JSWE.NS), ReNew Power (RENE.BO) and Acme Solar (ACMO.NS) have big plans for green hydrogen. Adani has a tie-up with French energy company TotalEnergies (TTEF.PA) as part of a deal to form a new green hydrogen project in India.

☆ NDTV founders resign from board after India's Adani takes control
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] A microphone of New Delhi Television (NDTV) is placed on a tripod along a roadside in New Delhi, India, August 26, 2022. REUTERS/Adnan Abidi/File PhotoNEW DELHI, Dec 30 (Reuters) - India's New Delhi Television Ltd (NDTV.NS) said on Friday its founders Prannoy Roy and Radhika Roy had resigned as directors after billionaire Gautam Adani's conglomerate took majority control of the media company. Adani Enterprises Ltd (ADEL.NS), through subsidiaries RRPR Holding and Vishvapradhan Commercial, now owns 64.72% of NDTV, which runs three national channels. There are no other material reasons for my resignation," Prannoy Roy, one of India's best-known journalists, said in his letter to the company resigning as executive co-chairperson. Adani Group would "strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform", the statement added.

[1/3] Drivers push auto rickshaws in a line to buy petrol from a fuel station amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 29, 2022. India's foreign ministry did not respond to questions from Reuters on its plans and strategic aims in Sri Lanka. New Delhi has long been concerned about China's clout in its neighbourhood, including Nepal, Bangladesh and Sri Lanka. "And as far as Sri Lanka is concerned, we don't want to contribute to any escalation of tension between any countries." "Sri Lanka has clearly benefited from being the closest neighbour to the most powerful country in the region.

[1/2] Police officers stand guard near the barricades during a protest rally by the supporters of the proposed Vizhinjam port project in the southern state of Kerala, India, November 30, 2022. An Adani Group official who declined to be identified said construction would restart on Thursday. The port has strategic importance for both India and Adani, an ally of Prime Minister Narendra Modi and Asia's richest man. The Adani Group says the port complies with all laws and has cited studies that show it is not linked to shoreline erosion, which the Kerala government says is due to natural causes. Adani has previously faced protests in Australia, where environmental activists protested against his Carmichael coal mine project in the northeastern state of Queensland.

[1/2] Police officers are deployed as fishermen protest near the entrance of the proposed Vizhinjam Port in the southern state of Kerala, India, November 9, 2022. "We won't let them in," a protestor was seen screaming at police officers near the port entrance site. The Adani Group has said the project was in full compliance with all laws and that many studies in recent years have rejected allegations linking the project to shoreline erosion. The Kerala state government says erosion has occurred due to natural disasters. A previous attempt by Adani in October to move trucks out of the port also failed.

☆ TotalEnergies leads Shell, BP in renewables race, but shares sag
▼ + stars: | 2022-11-07 | by ( Ron Bousso | ) www.reuters.com time to read: +3 min

REUTERS/Stephane MaheSummarySummary Companies TotalEnergies has largest renewables operationsBut European energy giants' shares trail U.S. rivalsLONDON, Nov 7 (Reuters) - French energy giant TotalEnergies (TTEF.PA) has pulled ahead of rivals Shell (SHEL.L) and BP in the race to build up a renewables business, data collected by Reuters shows. BP, Shell and TotalEnergies have all set out ambitious plans to shift towards low-carbon and renewable energies in the coming decades in an effort to slash greenhouse emissions to net zero. BP, by comparison, has so far built 2GW of operating renewables capacity, partly through its 50% stake in Lightsource BP, one of the world's top solar producers. Shell's net capacity is slightly higher at 2.2GW, with acquisitions including U.S. producer Savion and Indian renewables platform Sprng Energy earlier this year. TotalEnergies aims to have 100GW of gross renewables capacity by 2030 while BP targets 50GW of net renewables.

☆ India's Adani Group continues to seek equity partners, says CreditSights
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Nov 7 (Reuters) - India's ports-to-energy conglomerate Adani Group continues to seek strategic equity partners aligned with its long-term investment strategy, debt research firm CreditSights said in a report, flagging concern over the Group's elevated leverage. The Group, led by Asia's richest person Gautam Adani, is looking to expand its presence in power generation and infrastructure and ventured into cement-making operations earlier this year. Chairman Adani said late in September that the group will invest more than $100 billion over the next decade, most of it in the energy transition business. Adani Group did not immediately respond to a Reuters request for comment. CreditSights added that the group continues to seek strategic equity partners that are aligned with its long-term investment strategy, such as sovereign wealth funds, and also maintains strong relationships with existing partners.

☆ India appoints Anil Chauhan as chief of defence staff
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: 1 min

India's Adani Group to invest over $100 billion in next decade, article with imageIndia · September 27, 2022India's Adani Group will invest more than $100 billion over the next decade, most of it in the energy transition business, its Chairman Gautam Adani said on Tuesday, as the ports-to-energy conglomerate accelerates an already aggressive expansion plan.

☆ India's Adani pledges shares of ACC, Ambuja Cements worth about $12.5 billion
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Amit DaveBENGALURU, Sept 20 (Reuters) - India's Adani Group has pledged shares worth about $12.5 billion in two cement units, days after the conglomerate controlled by billionaire Gautam Adani completed the purchase of stakes in those businesses from Switzerland's Holcim (HOLN.S). The pledged shares of ACC and Ambuja were worth around 989.46 billion rupees based on Monday's closing prices and accounted for a 57% stake in ACC (ACC.NS) and a 63% stake in Ambuja Cements (ABUJ.NS). (https://bityl.co/EZE6) (https://bityl.co/EZEE)Deutsche Bank AG's Hong Kong branch, which is the agent for the pledged shares in ACC and Ambuja, made the disclosure in filings to India's stock exchanges. Register now for FREE unlimited access to Reuters.com RegisterThe group in May announced the acquisition of Holcim's cement businesses in India for $10.5 billion to become the country's No. read more($1 = 79.7210 Indian rupees)Register now for FREE unlimited access to Reuters.com RegisterReporting by Chris Thomas in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "India's Adani"

12 mentions found