Banks pocket $12 million in fees in Adani’s mega share sale
1 year, 10 months ago

Banks pocket $12 million in fees in Adani’s mega share sale

Live Mint  

Investment banks are set to receive about 1 billion rupees in total fees after helping Indian tycoon Gautam Adani pull off a closely watched follow-on share sale, according to people familiar with the matter. The top arrangers — ICICI Securities, Jefferies Financial Group and SBI Capital Markets — will get half of the total fees, while seven other banks will share the remainder, the people said. The offering by Adani Enterprises — India’s largest follow-on share sale — caught global investor attention after US short seller Hindenburg Research alleged the conglomerate used a web of firms in tax havens to inflate revenue and stock prices. The Adani Group labeled the allegations an “attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India.” Read all Adani fiasco related stories here A team of more than 60 people at the Adani Group worked on the share sale, with some asked to regularly brief global and domestic investors to allay concerns raised by the short seller’s report, Bloomberg News has reported.

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History of this topic

Japanese Banks sticking with Adani as Jefferies, Barclays review ties
3 weeks, 4 days ago

Japanese Banks sticking with Adani as Jefferies, Barclays review ties

Live Mint  

-- Japan’s biggest banks plan to maintain ties to billionaire Gautam Adani despite US bribery charges, even as other global firms including Barclays Plc are reassessing their exposure to the Indian conglomerate. Mizuho Financial Group Inc. expects the latest saga surrounding Adani won’t have a long-lasting impact and intends to continue supporting the group, according to people familiar with the …

Adani, Others Invest ₹366 Crore in Sagility India Ahead of ₹2,107 Crore IPO
Trending News
1 month, 3 weeks ago

Adani, Others Invest ₹366 Crore in Sagility India Ahead of ₹2,107 Crore IPO

Hindustan Times  

Adani Group and other institutional investors have invested ₹366 crore in Sagility India ahead of its IPO. The company will issue 70.2 crore shares at a price band of ₹28-30 per share, with 75 per cent for qualified institutional buyers, 15 per cent for non-institutional investors, and 10 per cent for retail investors. The IPO will open on November 5 …

Gautam Adani raises stake in Adani Enterprises, buys more from open market
6 months, 1 week ago

Gautam Adani raises stake in Adani Enterprises, buys more from open market

Hindustan Times  

Gautam Adani, promoters of Adani Enterprises and companies belonging to the promoter group purchased over two per cent stake in the company from open market between September 2023 and June this year, a statement to stock exchanges noted. As per the exchange filing, open market purchases in shares of Adani Enterprises were made between September 8-12, 2023 by Infinity Trade …

Promoters raise $500 mn via Adani Green stake sale to QIA
1 year, 4 months ago

Promoters raise $500 mn via Adani Green stake sale to QIA

Live Mint  

MUMBAI : The promoters of Adani Group raised about $500 million by selling a part of their holdings in Adani Green Energy Ltd to investors, including INQ Holding Llc, a wholly owned unit of sovereign fund Qatar Investment Authority. Additionally, shares worth $7.18 billion or ₹59,436 crore and ₹2,532 crore are pledged by the promoters in Ambuja Cements Ltd and …

SBI to divest its 2% equity stake in NSDL IPO via OFS
1 year, 5 months ago

SBI to divest its 2% equity stake in NSDL IPO via OFS

Live Mint  

State Bank of India today said it proposes to sell 2% stake by offloading 40 lakh shares in depository organisation NSDL. State Bank of India proposes to participate in an Initial Public Offering of National Securities Depositories Limited by way of offer for sale of up to 2% equity stake held by the Bank in NSDL. SBI holds 5 per …

Adani Group to raise $3.5 billion through share sale in 3 companies
1 year, 6 months ago

Adani Group to raise $3.5 billion through share sale in 3 companies

Live Mint  

Billionaire Gautam Adani-led group is set to raise $3.5 billion through an equity share sale to institutional investors in the boldest comeback strategy after US short-seller Hindenburg Research levelled accusations against the ports-to-energy conglomerate of stock manipulation and financial wrongdoings. While boards of Adani Enterprises Ltd and electricity transmission company Adani Transmission Ltd have already approved raising up to ₹21,000 …

Adani Enterprises Shares Drop 8% as Traders Book Profit; What Should you Do Now?
1 year, 7 months ago

Adani Enterprises Shares Drop 8% as Traders Book Profit; What Should you Do Now?

News 18  

Adani Enterprises Share Price: The three-day rally in Adani Enterprises on Wednesday came to an abrupt halt as the Nifty stock lost up to 8% to hit day’s low of Rs 2425.85 on BSE as traders booked profits. This means Jain’s investment into four Adani Group companies in March has generated more than 65 per cent returns in less than …

$2.6 bn stake sale money came in group firms: Adani counters Rahul Gandhi's 'Rs 20,000 Crore' claim
1 year, 8 months ago

$2.6 bn stake sale money came in group firms: Adani counters Rahul Gandhi's 'Rs 20,000 Crore' claim

India Today  

Countering Congress leader Rahul Gandhi’s claim of Rs 20,000 crore coming in billionaire Gautam Adani's shell companies, Adani group on Monday listed out details of the USD 2.87 billion stake sales in group firms since 2019 and how USD 2.55 billion of this was ploughed back into business. While investors such as Abu Dhabi-based global strategic investment company, International Holding …

Stocks to Watch: TCS, NTPC, IDBI Bank, Adani Enterprises, ZEE Entertainment
1 year, 9 months ago

Stocks to Watch: TCS, NTPC, IDBI Bank, Adani Enterprises, ZEE Entertainment

Live Mint  

New Delhi: Here is the list of the top 10 stocks that will be in focus today: Tata Consultancy Services: The IT services major has named K. Krithivasan as chief executive after Rajesh Gopinathan unexpectedly resigned. IDBI Bank: The Union government may defer the $4 billion IDBI Bank privatization plan over concerns that unprecedented market volatility may deter prospective buyers. …

Adani Group pre-pays ₹73.74 billion worth share-backed financing
1 year, 9 months ago

Adani Group pre-pays ₹73.74 billion worth share-backed financing

Hindustan Times  

Embattled Indian conglomerate Adani said on Tuesday it prepaid share-backed financing of 73.74 billion rupees, as part of its promoters' commitment to cut overall leverage backed by shares of the Group's listed companies. Adani group said on Tuesday it prepaid share-backed financing of ₹ 73.74 billion. The billionaire Gautam Adani-led Adani Group has been looking to ease concerns about its …

Adani stocks: GQG Partners buys stake worth ₹15,446 cr in mega block deals
1 year, 9 months ago

Adani stocks: GQG Partners buys stake worth ₹15,446 cr in mega block deals

Live Mint  

US-based boutique investment firm GQG Partners has bought stake worth ₹15,446 crore in three Adani Group Companies through block deals, the conglomerate said on Thursday, marking the first major investment in the group since US short-seller's explosive report sparked a stock rout. GQG Partners had investments in Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, Adani Transmission …

Did Adani stock rout, $130bn loss scare India's small investors?
1 year, 10 months ago

Did Adani stock rout, $130bn loss scare India's small investors?

Hindustan Times  

Individual stock investors in India are keeping faith in the country’s $3.1 trillion equity market even after a punishing selloff in Adani Group shares threatened to drag down one of the world’s best-performing indexes since the pandemic. Hanoz Mistri is among the small investors in India who believe the carnage that has wiped off about $130 billion from the value …

Adani Group faced margin call on $1.1 billion loan before repaying in full
1 year, 10 months ago

Adani Group faced margin call on $1.1 billion loan before repaying in full

The Hindu  

Adani Group Chairman Gautam Adani faced a margin call of more than $500 million on a $1.1 billion share-backed loan, prompting him to repay the whole debt, the Financial Times reported, citing four people with direct knowledge of the matter. Adani Group also plans to prepay a $500 million loan due next month to a group of banks that includes …

Adani to prepay $500 million loan to banking group amid Hindenburg row
1 year, 10 months ago

Adani to prepay $500 million loan to banking group amid Hindenburg row

Hindustan Times  

The Adani Group plans to prepay a $500 million loan due next month to a group of banks as the Indian conglomerate looks to bolster its finances following a short seller attack. Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year. …

Adani sell-off continues amid protests by India’s opposition
1 year, 10 months ago

Adani sell-off continues amid protests by India’s opposition

Al Jazeera  

Seven listed Adani Group firms see a sell-off worth $112bn in under two weeks as the opposition widens protests. Legislators of India’s main opposition party have kicked off protests at some state-run companies over the crisis at Adani Group, whose seven listed firms saw another sell-off that drove their market loss to $112bn in less than two weeks. Members of …

Aswath Damodaran values Adani Enterprises stock at ₹947 per share
1 year, 10 months ago

Aswath Damodaran values Adani Enterprises stock at ₹947 per share

Live Mint  

Aswath Damodaran feels the share price of Adani Enterprises was over stretched when it was valued at at $53 billion. In fact, a valuation of Adani Enterprises with upbeat assumptions on revenue growth and operating margins, and without factoring any of the Hindenburg accusations of fraud and malfeasance, yields a value of just about ₹945 per share, well below the …

Axis Bank says exposure to Adani Group at 0.94% of total loans
1 year, 10 months ago

Axis Bank says exposure to Adani Group at 0.94% of total loans

The Hindu  

Private sector lender Axis Bank on Saturday said its exposure to crisis-ridden Adani Group stands at 0.94% of its net advances. We remain comfortable with our exposure to Adani Group basis the same," the bank said in a regulatory filing. In addition, the bank's fund based and non-fund based outstanding towards the group's JVs is at 0.02% and 0.25%, respectively, …

‘Banks stable’: RBI amid concerns of exposure to Adani rout
1 year, 10 months ago

‘Banks stable’: RBI amid concerns of exposure to Adani rout

Hindustan Times  

Amid heightened uncertainties regarding Adani Group in the aftermath of a jarring Hindenburg report, the Reserve Bank of India on Thursday dismissed concerns about the “exposure” of Indian banks to the Gautam Adani-led conglomerate and said that the banking sector was “resilient and stable”. Several media reports claimed concerns about India's largest lender, the State Bank of India, along with …

Adani's bid to restore confidence post rout, likely to prepay share pledges
1 year, 10 months ago

Adani's bid to restore confidence post rout, likely to prepay share pledges

Hindustan Times  

Embattled billionaire Gautam Adani is in talks with creditors to prepay some loans backed by pledged shares as he seeks to restore confidence in his conglomerate’s financial health, a person with knowledge of the matter said. Adani Group's businesses have lost $108 billion of market value in a week, one of the biggest wipeouts in India’s history. Read| NSE puts …

India’s Adani calls off $2.5bn share sale in big setback
1 year, 10 months ago

India’s Adani calls off $2.5bn share sale in big setback

Al Jazeera  

The group’s stocks were hammered in the past week after a US short seller raised debt and accounting concerns. India’s Adani Enterprises has called off its $2.5bn share sale in a dramatic reversal, the company said on Wednesday, days after a rout in its stocks following criticism by a United States short seller. “The pain hitting Adani companies was crippling, …

Adani’s FPO fully subscribed as high net worth individuals offset retail wariness
1 year, 10 months ago

Adani’s FPO fully subscribed as high net worth individuals offset retail wariness

The Hindu  

The ₹20,000 crore follow-on public offer from Adani Enterprises Ltd. was fully subscribed on the last day of the record share sale on Tuesday, after high net worth individuals and institutional investors bid strongly and more than made up for a poor to tepid response from retail investors and employees. The successful conclusion of the Adani Group flagship company’s FPO …

Gautam Adani no longer among world’s top 10 richest people
1 year, 10 months ago

Gautam Adani no longer among world’s top 10 richest people

The Hindu  

Indian tycoon Gautam Adani has slipped out of the list of the world’s top 10 richest people following a rout in company share prices in the aftermath of the U.S.-based short seller Hindenburg Research’s report. Adani Group stocks have taken a beating on the bourses after Hindenburg in a report made a litany of allegations, including fraudulent transactions and share …

Adani’s Debt: How much does he owe Indian banks and is it cautionary ?
1 year, 10 months ago

Adani’s Debt: How much does he owe Indian banks and is it cautionary ?

Live Mint  

Adani Group's debt do not pose a risk to Indian banks according to reports by brokerages Jeffries and CSLA. Global brokerage firm CSLA in its report said that bank fund to the overall Adani group debt is less than 40 per cent. Even though Adani Group's debt levels doubled from ₹1 lakh crore to ₹2 lakh crore in the past …

Bankers on Adani ₹20,000-crore share sale consider delay, price cut after stocks plunge
1 year, 10 months ago

Bankers on Adani ₹20,000-crore share sale consider delay, price cut after stocks plunge

The Hindu  

Bankers on the $2.5 billion share sale of India's Adani Enterprises are considering extending the sale or cutting the issue price after shares plunged on a U.S. short seller's report, said three people familiar with the deal. Friday's 20% fall in shares of group flagship Adani Enterprises dragged it 11% below the minimum offer price of the secondary sale. "Revision …

Adani Group rout hits banking stocks, LIC; drags Sensex lower
1 year, 10 months ago

Adani Group rout hits banking stocks, LIC; drags Sensex lower

The Hindu  

The benchmark S&P BSE Sensex slid 1.5% on Friday dragged down by banking stocks on investor fears that a short-seller triggered rout in Adani Group stocks could impact lenders with a substantial exposure to the port to commodities conglomerate. Several Adani Group stocks hit the 20% lower circuit, while flagship Adani Enterprises, which opened a ₹20,000 crore follow-on public offer …

India banks' exposure to Adani Group is limited - CLSA, Jefferies
1 year, 10 months ago

India banks' exposure to Adani Group is limited - CLSA, Jefferies

The Hindu  

Indian banks' exposure to the Adani Group is within manageable limits, said brokerage houses CLSA and Jefferies, as the group fends off an attack from well-known short-seller Hindenburg Research. "While we watch for developments here, we don't see material risk arising to the Indian banking sector," brokerage firm Jefferies said in a note dated Jan.uary 26. "Within this, private banks' …

Adani Group begins big share sale as short seller triggers $37 billion rout
1 year, 10 months ago

Adani Group begins big share sale as short seller triggers $37 billion rout

Hindustan Times  

India's Adani Enterprises Ltd began a record $2.45 billion secondary share sale for retail investors on Friday, as a heavy selloff in Adani group companies intensified after an attack by a US-based short seller. In its report, Hindenburg said key listed Adani Group companies had "substantial debt", putting the conglomerate on a "precarious financial footing", and that "sky-high valuations" had …

Adani to use $2.5 billion share-sale proceeds for capex, debt repayment
1 year, 11 months ago

Adani to use $2.5 billion share-sale proceeds for capex, debt repayment

The Hindu  

India's Adani Enterprises will use the proceeds of the ₹200 billion follow-on public offering, beginning on January 27, for capital expenditure requirements and pay off some debt of its units. The company will use ₹108.69 billion from India's biggest FPO to fund green hydrogen projects, airports facilities and greenfield expressways, the Indian billionaire Gautam Adani-helmed firm said in its latest …

Aap Ki Adalat: Gautam Adani faces tough questions in no-holds-barred interview with Rajat Sharma
1 year, 11 months ago

Aap Ki Adalat: Gautam Adani faces tough questions in no-holds-barred interview with Rajat Sharma

India TV News  

Aap Ki Adalat: India’s richest industrialist Gautam Adani has, for the first time, replied extensively to Congress leader Rahul Gandhi’s allegations that the Modi government has been favouring the Adani group in matters relating to bank loans and infrastructure projects. You can speak to him about policies in the national interest, but when a policy is framed, it is for …

Carlyle, Fairfax, DBS Bank may bid for IDBI Bank
2 years ago

Carlyle, Fairfax, DBS Bank may bid for IDBI Bank

Live Mint  

Carlyle Group, Fairfax Financial Holdings, and DBS Bank are considering to bid for at least 10% each in IDBI Bank as part of the government’s ongoing share sale process, two people, including a government official, said. Private equity firms Carlyle and Fairfax and Singaporean lender DBS Bank have communicated with the department of investment and public asset management, finance ministry …

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