Will Karan Adani become Adani Group chairman when Gautam Adani exits? ‘It’s likely'
4 months, 2 weeks ago

Will Karan Adani become Adani Group chairman when Gautam Adani exits? ‘It’s likely'

Hindustan Times  

Gautam Adani has mapped out a succession plan for his conglomerate as per which the 62-year-old will step down at 70 transferring control of his business empire to his sons and their cousins by “early 2030s”. He said that Gautam Adani's sons- Karan Adani and Jeet Adani- along with cousins Pranav Adani and Sagar Adani, want to run the group as a united family even after he steps down. But who could take over as Adani Group chairman when Gautam Adani exits? Karan Adani is Gautam Adani's elder son and is currently overseeing businesses including cement, ports and logistics which are some of the group’s most established units and have the most steadiest cash flows. In the interview, Karan Adani said that Adani Group's ports business is “looking to expand its network and is seen as an extension of India’s strategic priorities developing ports in Vietnam, Israel and a US-funded port in Sri Lanka that seeks to unseat China’s regional dominance.” He said, “The clear priority is that we keep expanding not just within India, but also into our neighboring countries.

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Gautam Adani’s succession: Adani’s comments on heirs and equal beneficial interest misinterpreted, company says
4 months, 2 weeks ago

Gautam Adani’s succession: Adani’s comments on heirs and equal beneficial interest misinterpreted, company says

Live Mint  

Adani Enterprises has issued a statement to address recent media reports concerning Chairman Gautam Adani's succession plans. The company asserts that Adani's comments about heirs and equal beneficial interest in the family trust have been misrepresented. In a filing to stock exchanges, the company stated, "We would like to clarify that, in a recent interview, Gautam Adani shared his thoughts …

Adani plans to cede control to family by early 2030s: Report
4 months, 2 weeks ago

Adani plans to cede control to family by early 2030s: Report

The Hindu  

Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and shift control to his sons and their cousins in the early 2030s, he told Bloomberg News. When Mr. Gautam retires, his four heirs - sons Karan and Jeet, and their cousins Pranav and Sagar - will become equal beneficiaries of the family trust, according …

Gautam Adani Boosts Ownership in Adani Enterprises by 1.32%
6 months, 1 week ago

Gautam Adani Boosts Ownership in Adani Enterprises by 1.32%

Deccan Chronicle  

In a strategic move that underscores confidence in his conglomerate's trajectory, Gautam Adani, the chairman of the Adani Group, has increased his stake in Adani Enterprises by 1.32%. His decision to bolster his ownership stake in Adani Enterprises reflects not only his personal belief in the company's potential but also a broader endorsement of India's economic resilience and growth prospects. …

Revanth meets Adani Group delegation, assures help for new projects in TS
11 months, 3 weeks ago

Revanth meets Adani Group delegation, assures help for new projects in TS

Deccan Chronicle  

Hyderabad: Chief Minister A. Revanth Reddy on Wednesday met a delegation of the Adani Group at the Secretariat to discuss expansion and investment plans of the company in Telangana. While the Adani Group expressed an interest in investing more in Telangana state, the Chief Minister assured the delegation that the state government would provide the required amenities, infrastructure and subsidies …

‘Some groups and individuals working overtime to harm our name’: Adani Group amid allegations against Mahua Moitra
1 year, 2 months ago

‘Some groups and individuals working overtime to harm our name’: Adani Group amid allegations against Mahua Moitra

The Hindu  

The Adani Group has reacted to the alleged 'cash for question' in the Parliament about the Group raised by a BJP parliamentarian against TMC MP Mahua Moitra, saying this development corroborates the conglomerate's recent statement where it said that "some groups and individuals have been working overtime to harm our name, goodwill and market standing." Bharatiya Janata Party MP Nishikant …

Adani to shake up ACC and Ambuja Cement boards
2 years, 3 months ago

Adani to shake up ACC and Ambuja Cement boards

Live Mint  

MUMBAI : Gautam Adani, chairman of Adani Group and Asia’s richest man, his son Karan and nephew Pranav, will join the boards of two of India’s oldest cement companies, ACC Ltd and Ambuja Cements Ltd, in an overhaul of the top management and board of the two cement makers, two people directly familiar with the matter said. The two simultaneous …

Adani Group is 'deeply overleveraged', warns CreditSights
2 years, 4 months ago

Adani Group is 'deeply overleveraged', warns CreditSights

The Hindu  

Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. "Over the past few years, the Adani Group has pursued an aggressive expansion plan that has pressurised its credit metrics and cash flows," CreditSights said. "The Adani …

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