Adani’s petrochemical plant inches closer to getting a ₹17,000-cr lifeline from SBI-led consortium
7 months, 2 weeks ago

Adani’s petrochemical plant inches closer to getting a ₹17,000-cr lifeline from SBI-led consortium

Live Mint  

Adani Group’s petrochemical plant at Mundra is closer to getting a fresh lease of life as State Bank of India prepares to lend the project about ₹17,000 crore, amounting to 60-70% of its capital expenditure requirement. The loan, from a consortium led by India's largest lender SBI, will be part of a financial closure programme for Adani Petrochemicals Ltd’s coal-to-polyvinyl chloride plant, which would be India's largest PVC manufacturing facility once completed. Mint had in July 2022 reported that Adani Group had approached SBI for a ₹14,000 crore loan to build a the petrochemical plant in Mundra. In its annual report for FY 2022-23, Adani Enterprises had said the company would "leverage the group’s resources at Mundra to build a state-of-the-art petrochemicals industry to enhance PVC import substitution".

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History of this topic

Adani Group announces to invest Rs 7.5 lakh crore in Rajasthan across sectors
2 weeks, 1 day ago

Adani Group announces to invest Rs 7.5 lakh crore in Rajasthan across sectors

India TV News  

Rising Rajasthan Global Summit: The Adani Group is planning to invest Rs 7.5 lakh crore across various sectors in Rajasthan, said Karan Adani, Managing Director of Adani Ports and SEZ Ltd on Monday at the Rising Rajasthan Global Summit held on Monday at the Jaipur Exhibition and Convention Centre in Sitapura. While speaking at the Rising Rajasthan Summit, Karan Adani …

India's Adani Energy Solutions to raise up to $1.5 billion
6 months, 3 weeks ago

India's Adani Energy Solutions to raise up to $1.5 billion

The Hindu  

India's Adani Energy Solutions said on Monday that its board has approved a fundraise of up to ₹125 billion. Business news website Moneycontrol had earlier reported that the two Adani companies — Adani Energy and Adani Enterprises — will collectively approve a fundraising plan in a range of $3.5-4 billion. Last year, U.S. shortseller Hindenburg in a report accused the …

Adani Group to invest 70 per cent of total investments in green energy: Sources
9 months ago

Adani Group to invest 70 per cent of total investments in green energy: Sources

India TV News  

Business news: The Adani Group is likely to invest over 70 per cent of its total investments towards green energy, including renewable power, green hydrogen and green evacuation transmission line, sources said. According to sources, Adani Group is planning to invest USD 14 billion in the 2024-25 financial year through its portfolio of 11 listed companies, in developing the country's …

Adani Group to invest ₹1.2 lakh crore in FY 2024-25 through 11 companies
9 months, 1 week ago

Adani Group to invest ₹1.2 lakh crore in FY 2024-25 through 11 companies

Op India  

Adani Group plans to invest USD 14 billion in 2024-25 financial year through its portfolio of 11 listed companies, in developing the country’s infrastructure, according to sources. India’s largest infrastructure conglomerate with showcase projects like Navi Mumbai Airport, Ganga Expressway, world’s largest renewable park at Khavda and Mundra Port has committed a USD 100 billion investment over the next 7-10 …

Adani group to invest ₹42700 cr in DMK-run Tamil Nadu
11 months, 2 weeks ago

Adani group to invest ₹42700 cr in DMK-run Tamil Nadu

Op India  

Ports-to-power conglomerate Adani Group on Monday signed memorandums of understanding for investment of over Rs 42,700 crore at the Tamil Nadu Global Investors Meet 2024. According to an official press release, “The biggest investment of Rs 24,500 crore will be made by Adani Green Energy Ltd in three pump storage projects in the next 5-7 years.” “Adani Connex will invest …

Adani Group to invest Rs 8700 crores in JDU-RJD-ruled Bihar across sectors
1 year ago

Adani Group to invest Rs 8700 crores in JDU-RJD-ruled Bihar across sectors

Op India  

On Thursday, the Adani Group announced a significant commitment to amplify its investments in Bihar, aiming to increase the conglomerate’s financial commitment to the state tenfold. Pranav Adani, Managing Director of Adani Enterprises, shared during the Bihar Business Connect 2023 event that the group plans to boost its current investment in the state from Rs 850 crore to a substantial …

SBI-led consortium to fund Adani’s ₹34,000 crore PVC project in Mundra
1 year, 5 months ago

SBI-led consortium to fund Adani’s ₹34,000 crore PVC project in Mundra

Live Mint  

A consortium of banks led by the State Bank of India has agreed to finance a substantial part of the Adani Group's ₹34,000-crore polyvinyl chloride project in Mundra, according to a report by The Hindu Businessline. The funding for the first phase of the project will be taken by the public sector banks which will pick up the bulk of …

Adani Green Energy's board approves raising Rs 12,500 crore, shares rise
1 year, 5 months ago

Adani Green Energy's board approves raising Rs 12,500 crore, shares rise

India Today  

Renewable energy company Adani Green Energy on Thursday said its board approved raising Rs 12,500 crore through a qualified institutional placement. Adani Green’s CFO Phuntsok Wangyal said in May that the company plans to expand green energy capacity by about 3 gigawatts this financial year, which will cost around Rs 14,000 crore. Adani Green Energy, in particular, has witnessed a …

Adani set to revive Mundra PVC project
1 year, 6 months ago

Adani set to revive Mundra PVC project

Live Mint  

MUMBAI : Adani Group has revived its investment plan for Mundra Petrochem Ltd, India’s largest polyvinyl chloride plant, with initial funding of ₹14,000-16,000 crore, after a four-month suspension of operations, two people directly aware of the development said. According to Adani Group’s latest plan, the group will seek an additional $2 billion for the Mundra project after fully utilizing the …

Adani Ports repays ₹1,000 cr to SBI MF in comeback strategy
1 year, 10 months ago

Adani Ports repays ₹1,000 cr to SBI MF in comeback strategy

Live Mint  

Billionaire Gautam Adani-led Adani Ports & Special Economic Zone Ltd has paid ₹1,000 crore loan on Monday and promised to repay more as the embattled empire mapped a comeback strategy amid a rout in the group stocks triggered by a bombshell US short seller Hindenburg Research's report released on 24 January. Adani Ports and SEZ has paid SBI Mutual Funds' …

Adani group says no refinancing issues in bid to calm jittery investors
1 year, 10 months ago

Adani group says no refinancing issues in bid to calm jittery investors

Hindustan Times  

Adani group said on Tuesday that its companies face no material refinancing risk, or near-term liquidity issues, in its latest attempt to calm investors spooked by a U.S. short-seller's critical report on its business practices. In a long-awaited credit report issued by Adani to Indian exchanges on Tuesday, the apples-to-airports group said there was "no material refinancing risk and near-term …

SBI’s loan exposure to Adani Group: CreditSights says, ’don’t see an issue’
1 year, 10 months ago

SBI’s loan exposure to Adani Group: CreditSights says, ’don’t see an issue’

Live Mint  

Given its substantial general provision reserves buffer of 338 billion rupees or 1% of net loans, SBI's entire loan exposure to the Adani Group is quite manageable, according to a report published on Tuesday, February 7 by CreditSights, a division of Fitch Ratings. “Do not see loan exposure to Adani Group as an issue for the State Bank of India …

LIC, SBI savings at risk amid Hindenburg vs Adani? Here's what banks said
1 year, 10 months ago

LIC, SBI savings at risk amid Hindenburg vs Adani? Here's what banks said

Hindustan Times  

As the shares of Indian billionaire Gautam Adani faced a bloodbath on Friday following a report by a US investment firm claiming the group had committed "brazen" corporate fraud, concerns were raised over its implications for financial stability and savings of crores of Indians in financial institutions such as Life Insurance Corporation and State Bank of India. The Congress party …

Adani, Vedanta and JSW lead Make In Odisha investment race, 21 MoUs signed
2 years ago

Adani, Vedanta and JSW lead Make In Odisha investment race, 21 MoUs signed

Live Mint  

The heads from Adani Group, ArcelorMittal, JSW Steel, Vedanta Group were among the 54 corporate honchos seated with Naveen Patnaik as he pitched for the Odisha story and a land of opportunity. Day 1 of the Make in Odisha Conclave 2022, of the third Edition of Odisha’s flagship investor summit organized by the Government of Odisha in collaboration with Federation …

Adani announces ₹65,000-cr. investment in Rajasthan
2 years, 2 months ago

Adani announces ₹65,000-cr. investment in Rajasthan

The Hindu  

Richest Asian Gautam Adani on Friday announced a ₹65,000-crore investment in Rajasthan over the next 5 to 7 years in setting up a mega 10,000 MW solar power capacity, expanding cement plant and upgrading Jaipur airport. The investment by ports-to-energy conglomerate that Adani heads also spans city gas infrastructure for retailing CNG to automobiles and piped gas to households and …

Why Adani wants ₹ 14,000 cr loan from SBI
2 years, 5 months ago

Why Adani wants ₹ 14,000 cr loan from SBI

Live Mint  

MUMBAI : Adani Group has approached the country’s largest lender, State Bank of India, for a ₹14,000 crore loan to build a coal-to-polyvinyl chloride plant in Gujarat’s Mundra, two people aware of the development said. One of the largest project credit proposals in recent months, the loan is even larger than the ₹12,770-crore loan Adani Enterprises arm Navi Mumbai International …

Adani, Total team up in $5bn green hydrogen project
2 years, 6 months ago

Adani, Total team up in $5bn green hydrogen project

Al Jazeera  

Green hydrogen projects will help India slash its reliance on oil and coal and help it curb emissions. French giant TotalEnergies SE and Indian billionaire Gautam Adani’s conglomerate plan to invest $5 billion to produce green hydrogen and related products in India as the world’s third-largest polluter seeks to decarbonize. Green hydrogen projects will also help India — the world’s …

Adani vs Reliance: Stage is set for India's Green Energy Revolution
3 years, 2 months ago

Adani vs Reliance: Stage is set for India's Green Energy Revolution

Business Standard  

Just weeks after Mukesh Ambani announced a $10-billion investment by his Reliance Industries over the next three years in clean energy, Gautam Adani committed an outlay of $20 billion over the next decade for the sector. And within weeks of that, Ambani’s Reliance Industries on October 10 announced two key deals on the same day -- acquisition of Norway-based REC …

Adani Green Energy completes SB Energy India acquisition
3 years, 2 months ago

Adani Green Energy completes SB Energy India acquisition

Live Mint  

Adani Green Energy Ltd has completed the acquisition of Japan’s SoftBank Group Corp.’s and Bharti Enterprises Ltd-owned solar power producer SB Energy India for an enterprise value of $3.5 billion, AGEL said in a statement on Monday. “Adani Green Energy Ltd, the world's largest solar power developer, successfully completed the acquisition of SB Energy Holdings Ltd in an all-cash deal …

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