Jump to content

Adani Group: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
Mr Adani is chairman of The Group which was wrongly interpreted as both Chair&MD but he is not MD Of the Group
Tags: Visual edit Mobile edit Mobile web edit
Omicron91 (talk | contribs)
280 edits
→‎Controversies: Added section about market manipulation
Tags: Reverted Mobile edit Mobile web edit Advanced mobile edit
Line 168: Line 168:


In August 2017, [[Central Board of Excise and Customs|Indian customs]] alleged the Adani Group was diverting millions of funds from the company's books to Adani family tax havens overseas. Adani was accused of using a [[Dubai]] shell company to divert the funds.<ref>{{cite web|last=Safi|first=Michael|date=21 February 2018|title=Adani mining giant facing renewed claims of $600m fraud in India|url=https://www.theguardian.com/business/2018/feb/22/adani-mining-giant-facing-renewed-claims-of-600m-in-india|access-date=25 June 2018|website=the Guardian|language=en}}</ref> The details of a $235 million diversion were obtained and published by ''[[The Guardian]]''.<ref>{{cite web|title=Adani document|url=https://www.scribd.com/document/356317230/Adani-document|access-date=25 June 2018|website=Scribd|language=en}}</ref> In 2014, the [[Directorate of Revenue Intelligence]] mapped out a complex money trail from [[India]] through [[South Korea]] and [[Dubai]], and eventually to an offshore company in [[Mauritius]] allegedly owned by Vinod Shantilal Adani, the older brother of [[Gautam Adani]].<ref>{{cite web|last=Safi|first=Michael|date=15 August 2017|title=Adani mining giant faces financial fraud claims as it bids for Australian coal loan|url=https://www.theguardian.com/world/2017/aug/16/adani-mining-giant-faces-financial-claims-as-it-bids-for-australian-coal-loan|access-date=25 June 2018|website=[[The Guardian]]|language=en}}</ref>
In August 2017, [[Central Board of Excise and Customs|Indian customs]] alleged the Adani Group was diverting millions of funds from the company's books to Adani family tax havens overseas. Adani was accused of using a [[Dubai]] shell company to divert the funds.<ref>{{cite web|last=Safi|first=Michael|date=21 February 2018|title=Adani mining giant facing renewed claims of $600m fraud in India|url=https://www.theguardian.com/business/2018/feb/22/adani-mining-giant-facing-renewed-claims-of-600m-in-india|access-date=25 June 2018|website=the Guardian|language=en}}</ref> The details of a $235 million diversion were obtained and published by ''[[The Guardian]]''.<ref>{{cite web|title=Adani document|url=https://www.scribd.com/document/356317230/Adani-document|access-date=25 June 2018|website=Scribd|language=en}}</ref> In 2014, the [[Directorate of Revenue Intelligence]] mapped out a complex money trail from [[India]] through [[South Korea]] and [[Dubai]], and eventually to an offshore company in [[Mauritius]] allegedly owned by Vinod Shantilal Adani, the older brother of [[Gautam Adani]].<ref>{{cite web|last=Safi|first=Michael|date=15 August 2017|title=Adani mining giant faces financial fraud claims as it bids for Australian coal loan|url=https://www.theguardian.com/world/2017/aug/16/adani-mining-giant-faces-financial-claims-as-it-bids-for-australian-coal-loan|access-date=25 June 2018|website=[[The Guardian]]|language=en}}</ref>

=== Stock Manipulation ===
In January 2023 [[Hindenburg Research]] published the findings of a multi-year investigation showing evidence that Adani had purposefully engaged in market manipulation to overvalue seven companies belonging to the group by billions of dollars. <ref>https://hindenburgresearch.com/adani/</ref>


==References==
==References==

Revision as of 02:54, 25 January 2023

For other uses or company named Adani, see Adani (disambiguation).

Adani Group
Company typePrivate
IndustryConglomerate
Founded20 July 1988; 35 years ago (20 July 1988)
FounderGautam Adani
Headquarters
Ahmedabad, Gujarat
,
India
Area served
Worldwide
Key people
Gautam Adani
(Chairman Of Adani Group)
Services
RevenueIncrease $23.3 billion (2022)[2]
OwnerGautam Adani (100%)
Number of employees
23,000+ (2021)[1]
Subsidiaries
Websitewww.adani.com

Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises. The Group's diverse businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure.[3] Adani Group employs over 100,000 people worldwide.[4][5] The Adani Group is controversial, with many reports of irregular practices in various fields.[6][7][8]

In April 2021, Adani Group became the third Indian conglomerate to cross US$100 billion in market capitalisation.[9] It crossed the market capitalisation of US$200 billion in April 2022, becoming the third Indian conglomerate after Tata Group and Reliance Industries to do so.[10] In November 2022, Adani Group market capitalization reached top $280 billion (INR 24 trillion) surpassing Tata Group.[11]

According to The Washington Post, more than 60 percent of the Adani Group's revenue is derived from coal-related businesses.[12]

History

Adani Exports Limited commenced as a commodity trading firm in 1988 and diversified into the import and export of multi-basket commodities. With a capital of ₹5 lakhs, the company was established as a partnership firm with the flagship company Adani Enterprises, previously Adani Exports.[13] In 1990 the Adani Group developed its own port in Mundra to provide a base for its trading operations. It began construction at Mundra in 1995. In 1998, it became the top net foreign exchange earner for India Inc.[14] The company began coal trading in 1999, followed by a joint venture in edible oil refining in 2000 with the formation of Adani Wilmar.[15]

The group's second phase started with the creation of large infrastructure assets. The company established a portfolio of ports, power plants, mines, ships and railway lines inside and outside India.[citation needed]

Adani handled 4 Mt of cargo at Mundra in 2002, becoming the largest private port in India. Later in 2006, the company became the largest coal importer in India with 11 Mt of coal handling.[14] The company expanded its business in 2008, purchasing Bunyu Mine in Indonesia which has 180 Mt of coal reserves. In 2009 the firm began generating 330 MW of thermal power. It also built an edible oil refining capacity in India of 2.2 Mt per annum.[14] Adani Enterprises became the largest trading house in India importing coal with a market share 60%. It also supplies coal to NTPC, India.[citation needed] The Adani group became India's largest private coal mining company after Adani Enterprises won the Orissa mine rights in 2010.[16] Operations at the Port of Dahej commenced in 2011 and its capacity subsequently grew to 20 Mt. The company also bought Galilee Basin mine in Australia with 10.4 gigatonnes (Gt) of coal reserves. It also commissioned 60 Mt of handling capacity for the coal import terminal in Mundra, making it the world's largest.[17] In the same year, the Adani group also bought Abbot Point port in Australia with 50 Mt of handling capacity. It commissioned India's largest solar power plant with a capacity 40 MW. As the firm achieved 3,960 MW capacity, it became the largest private sector thermal power producer in India. In 2012 The company shifted its focus on three business clusters – resources, logistics and energy.[18]

Adani Power emerged as India's largest private power producer in 2014.[19] Adani Power's total installed capacity then stood at 9,280 MW.[20] The Mundra Port, Adani Ports and SEZ Ltd. (APSEZ), handled 100 Mt in fiscal 2013–14.[citation needed] On 16 May of the same year, Adani Ports acquired Dhamra Port on East coast of India for ₹5,500 crore (equivalent to ₹88 billion or US$1.1 billion in 2023).[21] Dhamra Port was a 50:50 joint venture between Tata Steel and L&T Infrastructure Development Projects, which has been acquired by Adani Ports. The port began operations in May 2011 and handled a total cargo of 14.3 Mt in 2013–14.[22] With the acquisition of Dhamra Port, the Group is planning to increase its capacity to over 200 Mt by 2020.[23][24]

File:Krishnapatnam port Nellore.jpg
Krishnapatnam Port in Andhra Pradesh.

In 2015, the Adani Group's Adani Renewable Energy Park signed a pact with the Rajasthan Government for a 50:50 joint venture to set up India's largest solar park with a capacity of 10,000 MW.[25] In November 2015, the Adani group began construction at the port in Vizhinjam, Kerala.[26]

Adani Aero Defence signed a pact with Elbit-ISTAR and Alpha Design Technologies to work in the field of Unmanned Aircraft Systems (UAS) in India in 2016. In April, Adani Enterprises secured approval from the Government of Gujarat to begin work on building a solar power equipment plant. In September, Adani Green Energy (Tamil Nadu), the renewable wing of the Adani Group, began operations in Kamuthi in Ramanathapuram, Tamil Nadu with a capacity of 648 MW at an estimated cost of ₹4,550 crore (equivalent to ₹65 billion or US$780 million in 2023). In the same month, the Adani Group inaugurated a 648 MW single-location solar power plant. It was the world's largest solar power plant at the time it was set up.[27] In December, the Adani Group inaugurated a 100 MW solar power plant in Bhatinda, the largest in Punjab. The plant was built at a cost of ₹640 crore (equivalent to ₹920 crore or US$110 million in 2023).[citation needed]

On 22 December 2017, the Adani Group acquired the power arm of Reliance Infrastructure for ₹18,800 crore (US$2.89 billion).[28]

In October 2019, French oil and gas company TotalEnergies bought a 37.4% stake in Adani Gas for ₹6,155 crore (US$874.04 million) and obtained joint control of the company.[29] Total also invested US$510 million in a subsidiary of Adani Green Energy in February 2020.[30]

In August 2020, Adani Group obtained a majority stake in Mumbai and Navi Mumbai airports after entering a debt acquisition agreement with GVK Group.[31] Through a concession agreement with the Airports Authority of India, Adani Group also obtained a 50-year lease on Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore and Thiruvananthapuram airports.[32]

In May 2021, Adani Green Energy acquired SB Energy, a joint venture of SoftBank Group and Bharti Enterprises, for US$3.5 billion.[33]

In May 2022, the Adani Group acquired Ambuja Cements and ACC for US$10.5 billion. The deal will make the Adani Group the second largest cement maker in India.[34]

In May 2022, UAE-based conglomerate International Holding Company (IHC), headed by Syed Basar Shueb, invested US$2 billion in three Adani Group companies, namely Adani Green Energy, Adani Transmission and Adani Enterprises.[35][36] In June 2022, TotalEnergies acquired a 25% stake in Adani New Industries, the newly formed green hydrogen subsidiary of Adani Enterprises, for US$12.5 billion.[37]

Listed companies

Adani Enterprises

Adani Enterprises is a holding company, which is primarily engaged in mining and trading of coal and iron ore on a standalone basis, and acts as an incubator for Adani Group's new business ventures.[38] It has three main subsidiaries: Adani Wilmar (food processing), Adani Airport Holdings (airport operations) and Adani Road Transport (road development).[39] Through its other subsidiaries, Adani Enterprises also has business interests in solar PV module manufacturing,[40] water infrastructure,[41] data centers,[42] agri-output storage and distribution,[43] defence and aerospace,[44] bunkering,[45] rail and metro infrastructure,[46] real estate,[47] financial services,[48] oil exploration,[49] petrochemicals[50] and cement.[51]

Adani Green Energy

Adani Green Energy is the renewable energy arm of the group, having wind and solar power plants in its portfolio.[52] It is the world's largest solar power developer by capacity, with a total capacity of 12.3 GW.[53] In 2022, Adani Green formed 3 new subsidiary companies, called Adani Renewable Energy Thirty Six, Adani Renewable Energy Forty Limited and Adani Renewable Energy Forty Seven Limited.[54]

Adani Ports & SEZ

A view of Mundra Port in 2017.

Adani Ports & SEZ (APSEZ) is the largest private port company and special economic zone in India, with ten ports and terminals including Mundra Port, its largest.[55] The company is headed by Karan Adani, CEO of APSEZ. The company's operations include Port management, logistics and the special economic zone. The company operates at the following ports: Mundra, Dahej, and Hazira, Gujarat; Dhamra, Odisha; Kattupalli, Tamil Nadu; and Vizhinjam, Kerala.[citation needed]

Adani Power

Mundra Thermal Power Station in Gujarat.

Adani Power was established in August 1996.[56] The company develops and maintains power projects and is the largest private sector power generation company in the country.[57] It has a combined installed capacity of 12,450 MW with four thermal power projects across India.[58]

Adani Transmission

Integrated in 2013, Adani Transmission handles the commissioning, operations and maintenance of electric power transmission systems.[59] As of May 2021, the company holds, operates and maintains 17,200 circuit kilometres of transmission lines that range from 400 to 765 kilovolts, making it India's largest private sector power transmission and distribution network.[60][61]

Adani Total Gas

Adani Total Gas is a city gas distribution company serving both industrial and residential customers in India through piped natural gas connections and compressed natural gas stations. It is a joint venture between Adani Group and the French oil and gas company TotalEnergies.[62] Adani Total Gas has presence in 22 geographical areas (GAs) as a standalone entity as of November 2020. In addition, Indian Oil-Adani Gas Pvt. Ltd., a 50:50 joint venture between Adani Total Gas and Indian Oil Corporation, operates city gas distribution networks in 19 GAs.[63] With a combined presence of 41 GAs in 74 districts, Adani Total Gas is the largest city gas operator in India.[64] Recently, The Adani Group announced strategic collaboration with Snam, Europe's leading gas infrastructure company on energy mix transition.[65]

Adani Wilmar

Adani Wilmar, a joint venture between Adani Enterprises and Wilmar International, is the owner of the Fortune brand of edible oils.[66]

In May 2022, Adani Wilmar Limited (AWL) acquired ‘Kohinoor’ brand from McCormick Switzerland GMBH.[67]

Philanthropy

In 2020, the Adani Foundation donated ₹100 crore (equivalent to ₹118 crore or US$14 million in 2023) to the PM CARES Fund to fight the COVID-19 pandemic.[68][69] The Foundation made contributions of ₹5 crore (equivalent to ₹5.9 crore or US$710,000 in 2023) to the Gujarat CM Relief Fund and ₹1 crore (equivalent to ₹1.2 crore or US$140,000 in 2023) to the Maharashtra CM Relief Fund.[70] The employees of Adani Group made a contribution of ₹4 crore (equivalent to ₹4.7 crore or US$560,000 in 2023) to Adani Foundation for COVID-19 relief measures.[71]

In March 2021, Adani Group announced that it will reimburse the charges incurred by the employees and their families for the COVID-19 vaccination.[72]

In May 2021, Adani Group procured 48 cryogenic tanks from manufacturers in Thailand, Singapore, Saudi Arabia, UAE and Taiwan for transporting medical grade liquid oxygen to combat the second wave of COVID-19 in India.[73][74]

In June 2022, Adani and his family pledged to donate ₹60,000 crore (US$7.7 billion) for social causes.[75][76]

Sports

Adani Arena in Rockhampton, Australia

The Adani Group has multiple initiatives in sports.

Launched in 2016 to prepare athletes for Rio Olympics, Garv Hai ( transl. We are proud) is a nationwide programme to promote sports and support athletes in India. It was re-launched for a second time to groom athletes for 2020 Tokyo Olympics, 2022 Asian Games and Commonwealth Games. The programme focuses on archery, shooting, athletics, boxing, and wrestling. Beneficiaries of the Garv Hai pilot project in 2016 include Ankita Raina (tennis), Pinki Jangra (boxing), Shiva Thapa (boxing), Khushbir Kaur (athletics), Inderjeet Singh (athletics), Mandeep Jangra (boxing), Malaika Goel (shooting), Deepak Punia (wrestling), KT Irfan (racewalking) and Sanjivani Jadhav (athletics).[77][78]

Adani group also owns the Gujarat Giants team in the Pro Kabaddi League.[79]

Another initiative is the Surguja Football Academy in Chhattisgarh. So far 11 players from Surguja have been selected to play for the Indian national football team.[citation needed]

Adani Group also has naming rights on Hegvold Stadium (now known as Adani Arena) in Rockhampton[80] and the pavilion end of the Narendra Modi Stadium in Ahmedabad.[81]

In 2022, Adani Group acquired the Gulf Giants team in UAE's International League T20.[82]

Adani Group purchased a franchise in Legends League Cricket.[83][when?]

Controversies

Coal mining in Australia

Coal spill at Abbot Point, Australia, after Cyclone Debbie in 2017.

The Adani Group launched in 2014, with the support of a part of the Australian Government and Queensland, a mining and rail project (Carmichael coal mine) in Carmichael in Queensland's Galilee Basin for $21.5 billion[84] (over the life of the project, i.e. 60 years[84]). This mine is one of many coal mines in Queensland, Australia. Its annual capacity would be 10 Mt of thermal coal.[85]

This project will occupy an area of 35,000 hectares (86,000 acres). In response to activist pressure some international banks refused to finance it,[86] and in November 2018, Adani Australia announced that the Carmichael project would be 100% financed by Adani Group resources.[87] In July 2019, the project received its final approvals from the Australian Government and construction of the mine commenced.[88]

The Australian Government has been taken to the Federal Court of Australia by the Australian Conservation Foundation twice, once in 2018 and once in March 2020 (still ongoing as of September 2020), relating to its contravention and alleged contravention of the Environment Protection and Biodiversity Conservation Act 1999 with respect to the impact of the Carmichael mine on groundwater and the country's water resources.[89]

In 2020, Adani Mining changed its name to Bravus Mining and Resources.[90]

On 29 December 2021, Bravus announced that the first shipment of high-quality coal from the Carmichael mine had been assembled at the North Queensland Export Terminal (NQXT) in Bowen ready for export as planned.[91]

Cronyism

Chairman and MD Gautam Adani has been described as being close to former Chief Minister of Gujarat and Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party (BJP).[92] This has led to allegations of cronyism as his firms have won many Indian energy and infrastructure government contracts.[93] In 2012, an Indian government auditor accused Modi of giving low cost fuel from a Gujarat state-run gas company to the Adani group and other companies.[94][95] In Jharkhand, the BJP-led state government made an exception to its energy policy for Adani's Godda power plant.[96] Both the Adani Group and Modi's government have denied allegations of cronyism.[95]

Leverage

In August 2022, CreditSights, a unit of Fitch Ratings, warned that Adani Group was "deeply overleveraged” and that its recent aggressive expansion had hurt the company's cash flow and credit. It also stated that a potential "worst-case scenario" could lead the company to end up in a debt trap and a potential default.[97][98] However, in September 2022, CreditSights made some corrections in the report and removed the mention of Adani Group being "deeply overleveraged".[99]

Tax evasion

On 27 February 2010, Central Bureau of Investigation arrested Rajesh Adani, managing director of Adani Enterprises Ltd., on charges of custom duty evasion amounting to ₹80 lakh.[100]

In August 2017, Indian customs alleged the Adani Group was diverting millions of funds from the company's books to Adani family tax havens overseas. Adani was accused of using a Dubai shell company to divert the funds.[101] The details of a $235 million diversion were obtained and published by The Guardian.[102] In 2014, the Directorate of Revenue Intelligence mapped out a complex money trail from India through South Korea and Dubai, and eventually to an offshore company in Mauritius allegedly owned by Vinod Shantilal Adani, the older brother of Gautam Adani.[103]

Stock Manipulation

In January 2023 Hindenburg Research published the findings of a multi-year investigation showing evidence that Adani had purposefully engaged in market manipulation to overvalue seven companies belonging to the group by billions of dollars. [104]

References

  1. ^ a b "About us | Growth with Goodness".
  2. ^ "Investment thesis of Adani Group".
  3. ^ "After ADAG, Adani enters defence sector, signs up with Israeli firm". 30 March 2016. Retrieved 25 June 2018.
  4. ^ "Adani Group Employees". World Economic Forum. Retrieved 19 January 2018.
  5. ^ "Empowering India, Shaping a new future" (PDF).
  6. ^ Findlay, Stephanie; Lockett, Hudson (13 November 2020). "'Modi's Rockefeller': Gautam Adani and the concentration of power in India". Financial Times. Retrieved 24 January 2023.
  7. ^ Madhok, Diksha (13 November 2020). "Gautam Adani was a college dropout. Now he may be too big to fail". CNN. Retrieved 24 January 2023.
  8. ^ "Adani sees controversies as challenges. And there are plenty of them". Vibes of India. 25 November 2021. Retrieved 24 January 2023.
  9. ^ "Adani Group becomes 3rd Indian conglomerate to cross $100 billion in m-cap". Business Standard India. 6 April 2021. Retrieved 11 July 2021.
  10. ^ "Adani Group becomes third Indian conglomerate to cross $200 billion Mcap". Moneycontrol. Retrieved 13 April 2022.
  11. ^ "Adani beats Tatas to be most valued group". Times of India. Retrieved 17 September 2022.
  12. ^ Gerry Shih; Niha Masih; Anant Gupta. "An empire built on coal". The Washington Post. Retrieved 9 December 2022.
  13. ^ "Gautam Adani Biography- About family, children, education, wife, age, and more". business.mapsofindia.com. Retrieved 25 June 2018.
  14. ^ a b c "Adandi: Business of Success" (PDF). superbrandsindia.com. Archived from the original (PDF) on 1 May 2018. Retrieved 16 December 2018.
  15. ^ "Adani to bring Wilmar products to India". 23 November 2012. Retrieved 25 June 2018.
  16. ^ "Adani bags rights to develop Orissa coal block". economictimes.indiatimes.com. 27 October 2010. Archived from the original on 15 October 2012. Retrieved 16 December 2018.
  17. ^ http://thepropertytimes.in/management/press-release/203-adani-group?start=2 [dead link]
  18. ^ "Adani Group to have new identity, logo". 22 February 2012. Retrieved 25 June 2018.
  19. ^ Gadgil, Makarand (3 April 2014). "Adani Power commissions 4th unit of Tiroda power plant in Gujarat". Retrieved 25 June 2018.
  20. ^ "Adani Power becomes India's largest private power producer". articles.economictimes.indiatimes.com. 4 April 2014. Archived from the original on 7 April 2014. Retrieved 16 December 2018.
  21. ^ Mandavia, Megha; Barman, Arijit (17 May 2014). "Adani Ports acquires Dhamra Port on east coast of India for Rs 5,500 crore". The Economic Times. Retrieved 25 June 2018.
  22. ^ "Adani acquires Dhamra Port for Rs 5,500 crore". Business Standard India. 17 May 2014. Retrieved 25 June 2018 – via Business Standard.
  23. ^ "Adani Ports acquires Dhamra Port for Rs.5,500 cr". The Hindu. 16 May 2014. Retrieved 25 June 2018 – via www.thehindu.com.
  24. ^ "Adani Ports buys Dhamra Port from Tata Steel, L&T for Rs 5,500 crore". businesstoday.in. 17 May 2014. Retrieved 25 June 2018.
  25. ^ "Adani to set up country's largest solar park of 10,000 MW in Rajasthan". 16 June 2015. Retrieved 25 June 2018.
  26. ^ "Adani in Pact with Kerala for Vizhinjam Port". 18 August 2015. Retrieved 25 June 2018.
  27. ^ Scott, D. j Walter (22 September 2016). "Adani's 648-MW solar plant inaugurated". The Hindu. Retrieved 25 June 2018 – via www.thehindu.com.
  28. ^ Patra, Shakti (21 December 2017). "Reliance Infrastructure sells Mumbai power business to Adani Transmission for Rs18,800 crore". Retrieved 25 June 2018.
  29. ^ Manoj, P. (14 October 2019). "Total buys 37.4 per cent stake in Adani Gas for Rs 6,155 crore". Business Line. Retrieved 5 July 2021.
  30. ^ "Adani Green Energy surges after signing deal with Total for $510 million". The Economic Times. Retrieved 6 July 2021.
  31. ^ "Adani takes over MIAL, Navi Mumbai airports after a 2-year tussle with GVK". Business Line. Retrieved 5 June 2021.
  32. ^ "Adani Group completes acquisition of 23.5% stake in Mumbai Airport; to hike ownership to 74%". www.businesstoday.in. Retrieved 25 April 2021.
  33. ^ Jai, Shreya (19 May 2021). "Adani Green buys SB Energy from Softbank and Bharti; firm valued at $3.5 bn". Business Standard India. Retrieved 5 July 2021.
  34. ^ "Adani Group becomes India's 2nd largest cement maker with $10.5 billion acquisition of Ambuja-ACC". India Today. Retrieved 16 May 2022.
  35. ^ "Three Adani Group companies receive $2 billion from Abu Dhabi's IHC". The Economic Times.
  36. ^ "Abu Dhabi's IHC invests ₹15,400 crore in three Adani firms". 17 May 2022.
  37. ^ Laskar, Anirudh (14 June 2022). "French energy giant TotalEnergies to invest $12.5 bn in Adani Group's new firm". mint. Retrieved 1 July 2022.
  38. ^ "Adani Enterprises becomes second-most valuable Adani Group firm". Business Standard India. 4 June 2021. Retrieved 5 June 2021.
  39. ^ "Adani Enterprises Ltd Q3 FY21 Performance Highlights" (PDF). Retrieved 21 April 2021.
  40. ^ "Adani Green arm transfers 74% stake held in Mundra Solar Energy to Adani Enterprises". India Infoline. Retrieved 1 June 2021.
  41. ^ "Adani Enterprises incorporates subsidiary - Prayagraj Water". Business Standard India. 27 December 2018. Retrieved 1 June 2021.
  42. ^ "Adani Enterprises, EdgeConneX form new data center JV, AdaniConneX". mint. 23 February 2021. Retrieved 1 June 2021.
  43. ^ Singh, Ruchira (21 January 2015). "Adani in slow, strategic bid to stay ahead in agriculture". mint. Retrieved 1 June 2021.
  44. ^ "Adani Enterprises gains as Airbus, Adani Defence sign MoU". Business Standard India. 7 February 2020. Retrieved 1 June 2021.
  45. ^ Sood, Jyotika; Bhaskar, Utpal (28 February 2017). "Adani Enterprises plans ship-fuelling business expansion". mint. Retrieved 7 June 2021.
  46. ^ Prasad, Rachita (17 October 2019). "Adani Enterprises sets up new arm for metro rail business". The Economic Times. Retrieved 8 June 2021.
  47. ^ Jog, Sanjay; Kamath, Raghavendra (28 May 2014). "Adani in realty push, lines up projects". Business Standard India. Retrieved 1 June 2021.
  48. ^ Kurup, Rajesh. "Adani Capital acquires Essel Finance's MSME loan business". Business Line. Retrieved 1 June 2021.
  49. ^ "Adani Welspun finds gas in offshore Mumbai". Mint. Retrieved 21 June 2021.
  50. ^ "Adani Enterprises incorporates wholly-owned arm Mundra Petrochem Limited". The Economic Times. Retrieved 2 July 2021.
  51. ^ "Adani Enterprises Incorporates New Subsidiary For Cement Business". Moneycontrol. Retrieved 18 June 2021.
  52. ^ "Adani Green Energy arm bags 130-MW wind power project from SECI". The Economic Times. Retrieved 23 March 2021.
  53. ^ Thomas, Tanya (1 September 2020). "With 8GW of SECI contracts, Adani Green is largest solar power developer". mint. Retrieved 8 July 2021.
  54. ^ "Adani Green". Business Standard.
  55. ^ "'Adani aims to become world's top port operator by 2030'". @businessline. 26 June 2021. Retrieved 20 July 2021.
  56. ^ "Rajesh Adani: The Journey from Ahmedabad to Adani Group". Pressroom Today. Archived from the original on 4 May 2018. Retrieved 20 April 2018.
  57. ^ "Adani Power becomes India's largest private power producer". 7 April 2014. Archived from the original on 7 April 2014. Retrieved 6 July 2021.
  58. ^ Thomas, Tanya (19 August 2020). "Adani looks to buy OPG's thermal plant". mint. Retrieved 20 July 2021.
  59. ^ "Adani Transmission Ltd". Business Standard India. Retrieved 25 June 2018 – via Business Standard.
  60. ^ "Adani Transmission becomes the second most valuable Adani Group firm". Business Standard India. 21 May 2021. Retrieved 7 July 2021.
  61. ^ "Company Profile for ${Instrument_CompanyName}". IN. Retrieved 25 June 2018.
  62. ^ "Adani Gas to change name to Adani Total Gas". The Economic Times. Retrieved 6 February 2021.
  63. ^ "Adani Gas gains for fifth straight day after it buys CGD biz in 3 new areas". Business Standard India. 9 November 2020. Retrieved 6 June 2021.
  64. ^ "Adani Gas to acquire three of Jay Madhok Energy's city gas licences". Business Standard India. 4 November 2020. Retrieved 6 June 2021.
  65. ^ "Adani Group announces strategic collaboration with Snam, Europe's leading gas infrastructure company on energy mix transition". www.adanigas.com. Retrieved 20 October 2021.
  66. ^ Devika Singh (21 January 2022). "We're building Fortune to be India's largest food brand, says Adani Wilmar CEO Angshu Mallick". Moneycontrol. Retrieved 9 December 2022.
  67. ^ "Adani Wilmar buys several brands, including 'Kohinoor' to strengthen food business". The Indian Express. Press Trust of India. 3 May 2022. Retrieved 9 December 2022.
  68. ^ Joshi, Manas (29 March 2020). "Gautam Adani gives Rs 100 crore to PM Fund to fight coronavirus". www.indiatvnews.com. Retrieved 1 April 2020.
  69. ^ "COVID-19: Adani Foundation contributes Rs. 100 Cr to PM-CARES fund". India Gazette. Retrieved 1 April 2020.
  70. ^ "Billionaire Gautam Adani commits to support fight against coronavirus". The Economic Times. 4 April 2020. Retrieved 10 April 2020.
  71. ^ "Ahmedabad: Gautam Adani employees contribute Rs 4 crore to PM fund". The Times of India. 4 April 2020. Retrieved 10 April 2020.
  72. ^ Staff Writer (21 March 2021). "Adani Group to reimburse Covid vaccination charges to employees". mint. Retrieved 26 April 2021.
  73. ^ "Adani Group deploys resources for Covid fight, procures 48 oxygen carrying tanks". The Financial Express. 8 May 2021. Retrieved 1 July 2021.
  74. ^ "From Amazon to Tata, Reliance to Vedanta, industry steps up to combat COVID-19 pandemic". www.msn.com. Retrieved 1 July 2021.
  75. ^ "The Adani Family Commits Rs 60000 Cr To Charity". www.adani.com. Retrieved 23 June 2022.
  76. ^ "Richest Asian Adani Pledges $7.7 Billion for Social Causes". www.bloomberg.com. Retrieved 23 June 2022.
  77. ^ "Adani Group announces training aid for hidden sports talents". The Quint. 27 June 2019.
  78. ^ "Adani Group launches Garv Hai project to groom potential medallists". Sportstar. Retrieved 2 July 2021.
  79. ^ "Gujarat Giants About". Gujarat Giants.
  80. ^ "Goodbye Hegvold Stadium, hello Adani Arena". The Morning Bulletin. Retrieved 22 July 2021.
  81. ^ "World's Biggest Cricket Arena That Hosted Trump Is Renamed After Modi". Bloomberg. Retrieved 22 July 2021.
  82. ^ "Adani Group makes landmark foray into franchise cricket acquiring rights to a franchise in UAE's flagship T20 league". Emirates cricket. Retrieved 16 May 2022.
  83. ^ "Adani Group acquires franchise in Legends League Cricket". livemint. Retrieved 25 August 2022.
  84. ^ a b ADANI, "Description of the mine project" by the Adani, PDF, 110 pages Archived 16 March 2015 at the Wayback Machine (version projecting a 90-year exploitation)
  85. ^ "Carmichael Mine | Bravus Mining & Resources". Carmichael Mine | Bravus Mining & Resources. Retrieved 18 May 2021.
  86. ^ Milman, Oliver (17 November 2014). "Carmichael mine: environmental impact will be unknown for years" – via www.theguardian.com.
  87. ^ "Adani's Carmichael mine, rail project to be financed through group's resources". Business Standard India. Press Trust of India. 29 November 2018. Retrieved 18 May 2021.
  88. ^ "Carmichael Coal Mine and Rail Project". statedevelopment.qld.gov.au. 12 November 2020.
  89. ^ "ACF challenges Morrison Government decision to not apply water trigger to Adani pipeline". Australian Conservation Foundation. 16 March 2020. Retrieved 31 August 2020.
  90. ^ Philpott, Meech (5 November 2020). "Adani Mining changes name to Bravus in Australia". ABC News. Retrieved 19 September 2022.
  91. ^ "Carmichael's first export ready to sail". Archived from the original on 2 January 2022. Retrieved 2 January 2022.
  92. ^ Farrer, Martin (24 August 2022). "Media freedom fears in India after Modi ally Adani buys 29% stake in NDTV". The Guardian. Retrieved 31 December 2022.
  93. ^ "For India, the Adani Group is growing too big to fail". Quartz. 13 December 2022. Retrieved 13 December 2022.
  94. ^ "CAG slams Modi regime for financial irregularities". The Hindu. 30 March 2012. ISSN 0971-751X. Retrieved 13 December 2022.
  95. ^ a b "Gautam Adani: The school dropout's high-risk journey to become Asia's richest man". BBC News. 2 December 2022. Retrieved 13 December 2022.
  96. ^ Shih, Gerry; Masih, Niha; Gupta, Anant (9 December 2022). "How political will often favors a coal billionaire and his dirty fossil fuel". The Washington Post. Retrieved 31 December 2022.
  97. ^ "Explained: Fitch says Adani is 'over leveraged' — what does over leveraging mean in business?". The Indian Express. 24 August 2022. Retrieved 13 December 2022.
  98. ^ "Adani's empire is 'deeply overleveraged,' Fitch Group unit warns". The Indian Express. 23 August 2022. Retrieved 13 December 2022.
  99. ^ "Adani Group debt data tweaked by CreditSights in toned down note". The Times of India. Bloomberg. 8 September 2022. Retrieved 10 January 2023.
  100. ^ "Adani Enterprises MD arrested for custom duty evasion – Times of India ►". The Times of India. Retrieved 7 April 2019.
  101. ^ Safi, Michael (21 February 2018). "Adani mining giant facing renewed claims of $600m fraud in India". the Guardian. Retrieved 25 June 2018.
  102. ^ "Adani document". Scribd. Retrieved 25 June 2018.
  103. ^ Safi, Michael (15 August 2017). "Adani mining giant faces financial fraud claims as it bids for Australian coal loan". The Guardian. Retrieved 25 June 2018.
  104. ^ https://hindenburgresearch.com/adani/

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Adani_Group&oldid=1135512072"