Mr Adani, 58, is a rarity among the ranks of Indian dynasts he is a self-made man, born into a family of eight that practiced Jainism, an Indian religion that emphasizes ascetic beliefs and business. After spending twenty years (28) building a business empire centered around coal, Indian billionaire Gautam Adani is now looking beyond the fuel to cement his group's future. His ambitious plans are becoming a lift from Prime Minister Narendra Modi.
Adani has emerged as India's infrastructure king, diversifying from mines, ports and power plants into airports, data centers and defense - sectors Modi considers crucial to meeting India's economic goals. Investors are rewarding the pivot, betting the tycoon's strategy of dovetailing his interests with the government's development program pays off. Adani Group's Inclusive Growth Story. This is the story of Mundra - a small village in Kachchh, which over the last two decades has transformed from a small sleepy village to a major hub of economic development.
Adani Group, is an Indian multinational conglomerate company, headquartered in Ahmedabad, Gujarat, India.It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises Limited (previously Adani Exports Limited). Adani Ports to acquire controlling stake in Gangavaram Port for Rs 3,604 cr. Adani Ports and Special Economic Zone on Tuesday said it will acquire a controlling interest in Gangavaram Port Ltd (GPL) from DVS Raju and family for Rs 3,604 crore taking its stake in GPL to 89.6 per cent. About Adani Logistics. Adani Logistics Limited (ALL) is the most diversified end-to-end logistics service provider in the country with presence across all major markets with expertise in handling varied customer across segments like Retail, Industrial, Container, Bulk, Break-Bulk, Liquids, Auto and Grain Handling. Adani Green Energy announced that it has signed a share purchase agreement for the acquisition of 100% stake in two SPVs holding 74.94 MW operating solar projects of Sterling & Wilson, a Shapoorji Pallonji group company. The projects, commissioned in 2017, are located in Medak District of Telangana.
The group's six listed units added a combined $79 billion to their market price within the past year at the peak of a virus, capping the most effective 12 months in their history. that is the most after the nation's two biggest business empires, Tata group and Mukesh Ambani-led Reliance Industries Ltd. Blue-chip names including French oil giant Total SE and Warburg Pincus LLC have plowed money into Adani's companies.
In but two years, Adani has gained control of seven airports and almost 1 / 4 of India's traffic. He has unveiled plans to spice up his renewable energy capacity almost eightfold by 2025, positioning himself to profit because the government debates ambitious climate targets that may cut net gas emissions by mid-century. Last week, he won a contract to co-develop a port terminal in state, a neighbor India is courting to test China's influence within the region. Adani Enterprises Ltd. signed a pact last month with EdgeConneX to develop and operate data centers across India. "Adani is politically savvy and invests in mostly sensible, long-dated infrastructure projects" broadly tied to government priorities, said Tim Buckley, director of energy finance for Australia and South Asia at the Institute for Energy Economics and Financial Analysis, or IEEFA. "So long as India sustains strong growth, the group is probably going to prosper under his leadership and witness a surge in global investor interest."
The focus on India's infrastructure forms "the core of our 'nation building' philosophy" and also the group has created thousands of jobs and delivered unprecedented value to its shareholders, Adani said at a JPMorgan India Summit in September. A representative for the group declined to comment for this story.
After starting out as a commodities trader within the late 1980s, Adani is now richer than Jack Ma and is India's second-wealthiest person with a net worth of $56 billion. He added $50 billion to his fortune within the past year, about $5 billion over Ambani, Asia's richest man, consistent with the Bloomberg Billionaires Index. Adani's net worth rose overthe other billionaire's this year. About Adani Logistics. Adani Logistics Limited (ALL) is the most diversified end-to-end logistics service provider in the country with presence across all major markets with expertise in handling varied customer across segments like Retail, Industrial, Container, Bulk, Break-Bulk, Liquids, Auto and Grain Handling.
Adani shot into the international limelight when he won a coal project in Australia in 2010. Ever since, he's come under fire from climate activists including Greta Thunberg. A "Stop Adani" campaign by environmentalists disrupted development, with pressure building on lenders to show off the credit tap. during a 2019 interview with Bloomberg News, Adani said the project's goals were energy security for India and jobs for locals.
Adani will walk away from it and Australia will be left with a very large hole in the ground, and permanent damage to the Great Artesian Basin. Absolute madness. - Says Peter Stuart, Carlingford
But back home, Adani has been at the middle of another controversy that got louder especially after Modi became prime minister in 2014. Opponents of the powerful leader say Adani's success is essentially because of his closeness to Modi -- an allegation denied by the tycoon -- and his propensity to align his investments with Modi's policy objectives.
Critics point to reports that the national under Modi relaxed airport bidding rules, helping Adani's group qualify despite having shown no prior experience running an airport. A lease the conglomerate won within the southern state of Kerala faced challenge in court, with a neighborhood minister last year calling the winning bid an "an act of brazen cronyism." The Adani group rejected those claims and said it won through a competitive process. In a Jan. 21 statement, the govt. said Adani was the highest bidder among 86 registrations, and therefore the process was transparent. The nation's Supreme Court continues to be hearing the dispute. The Adani group representative declined to comment.
Old Links
Like Modi, Adani hails from the western Indian state of Gujarat. About 20 years ago, Adani publicly backed Modi when a crisis threatened to finish the rising politician's career. Modi was under fire by rivals and businessmen who accused him of failing to stop bloody sectarian riots in his home state in 2002. Adani created a regional industry lobby and helped start a biannual global investment summit in Gujarat in 2003 that boosted Modi's pro-business credentials. "The connection between Modi and Adani dates back to 2003," said Nilanjan Mukhopadhyay, a political analyst who wrote the biography "Narendra Modi: the person, the Times." "Adani's fortunes will definitely take a beating" without Modi in power. Should that happen, he will start forging close ties with the new ruling party, Mukhopadhyay said.
Responding to his opponents, Modi said in an exceedingly parliament speech last month that the role of personal enterprise within the economy is as important because the public sector, and wealth creators are a necessity. The Adani representative declined to comment.
Deft Revamp
Buoyant credit markets helped fuel Adani's expansion. Adani Ports & Special Economic Zone Ltd. sold a 10-year dollar bond in January at a 3.10% coupon, compared with 4.375% in June 2019. Adani Green Energy Ltd. signed a $1.35 billion loan facility last week from 12 banks including Standard Chartered Plc and Sumitomo Mitsui Banking Corp., one among the most important renewable loans in Asia.
While Credit Suisse Group AG estimates the group's gross debt jumped 29% to $24 billion within the six months through September from a year earlier, a derivative and ring fencing of units in 2015 has provided comfort to creditors. The biggest threat Adani faces is coal. Financial institutions round the world are increasingly harassed to avoid funding energy projects using the dirtiest fuel. Adani Enterprises is India's biggest importer and also a contract miner for 101 million tons annually. His investments of quite $2 billion in Australia are running into challenges and delays, and will pose a risk to any of the units stepping in to fund the event.
Cutting Imports
Adani's new ventures face far fewer headwinds. He has plans for defense manufacturing, heeding Modi's calls to assist cut reliance on expensive imports. he's also scaling up production of solar panels and modules, again under Modi's "Make in India" appeal. The raid data centers follows the government's proposed law that needs data to be stored locally. Adani's penchant for attracting foreign capital also jibes with the priorities of a Modi administration that does not have an out sized enough budget to finance its infrastructure priorities. Warburg invested $110 million in Adani Ports and Special Economic Zone this month, while France's Total took its total investment in Adani Green to $2.5 billion.
"All told, Adani Group is doing all the correct things," said chief investment officer at TCG Asset Management Co. in Mumbai, whose fund recently sold its holdings in Adani units but is looking to shop for again. "In coming years, Adani group will own controlling stakes in critical gateways to infrastructure, power generation and knowledge technology."
Conclusion: Adani Group’s restructuring is largely in line with a corporate trend in which large corporations are realigning their businesses to unlock latent shareholder value. The restructuring is part of the group’s effort to simplify its corporate structure. Indian Railways has neither changed its name nor sold its trains to Adani Group. At least 15 private companies, including Adani Group, have the license to run the container trains in India since 2006. JHOOTH BOLE KAUVA KAATE - The number of crows determines the intensity of the lies.
#yusufbhandarkar Email:multimediastudio9@gmail.com Mumbai 400008 - 7977231537
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