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India New Issue-Adani Ports accepts bids for 5-year bonds, bankers say
MUMBAI, Feb 20 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS accepted bids worth 10 billion rupees ($109.92 million) in a sale of bonds maturing in five years, three bankers said on Friday.
It will pay a coupon of 7.52% and had invited commitment bids for the issue earlier in the day, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 20:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Adani Ports and Special Economic Zone | 5 years | 7.52 | 10 | February 20 | AAA(Crisil, care) |
Shriram Pistons | 18 months | 7.30 (quarterly) | 5 | February 20 | AA+ (India Ratings) |
Shriram Pistons | 2 years | 7.35 (quarterly) | 5 | February 20 | AA+ (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 90.9760 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
MUMBAI, Feb 20 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS accepted bids worth 10 billion rupees ($109.92 million) in a sale of bonds maturing in five years, three bankers said on Friday.
It will pay a coupon of 7.52% and had invited commitment bids for the issue earlier in the day, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 20:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Adani Ports and Special Economic Zone | 5 years | 7.52 | 10 | February 20 | AAA(Crisil, care) |
Shriram Pistons | 18 months | 7.30 (quarterly) | 5 | February 20 | AA+ (India Ratings) |
Shriram Pistons | 2 years | 7.35 (quarterly) | 5 | February 20 | AA+ (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 90.9760 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
Adani Ports And Port Of Marseille Fos Sign Strategic IMEC Partnership
Feb 18 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS & SEZ AND PORT OF MARSEILLE FOS SIGN STRATEGIC IMEC PARTNERSHIP
PARTNERSHIP PROPOSES CREATION OF CLUB FOR COORDINATION AMONG KEY PORTS ALONG IMEC ROUTE
Source text: ID:nBSE7p5m1y
Further company coverage: APSE.NS
(([email protected];;))
Feb 18 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS & SEZ AND PORT OF MARSEILLE FOS SIGN STRATEGIC IMEC PARTNERSHIP
PARTNERSHIP PROPOSES CREATION OF CLUB FOR COORDINATION AMONG KEY PORTS ALONG IMEC ROUTE
Source text: ID:nBSE7p5m1y
Further company coverage: APSE.NS
(([email protected];;))
Adani Ports Approves Tender Offer To Buy Up To $345.1 Million In Principal Amount Of Outstanding 4.0% Senior Notes Due 2027
Feb 9 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS: APPROVES TENDER OFFER TO BUY FOR CASH UP TO $345.1 MILLION IN PRINCIPAL AMOUNT OF OUTSTANDING 4.0% SENIOR NOTES DUE 2027
ADANI PORTS: APPROVES TENDER OFFER TO BUY $150 MILLION IN PRINCIPAL AMOUNT OF OUTSTANDING $500 MILLION 3.10% SENIOR NOTES DUE 2031
Source text: ID:nBSE9BP1Zf
Further company coverage: APSE.NS
(([email protected];))
Feb 9 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS: APPROVES TENDER OFFER TO BUY FOR CASH UP TO $345.1 MILLION IN PRINCIPAL AMOUNT OF OUTSTANDING 4.0% SENIOR NOTES DUE 2027
ADANI PORTS: APPROVES TENDER OFFER TO BUY $150 MILLION IN PRINCIPAL AMOUNT OF OUTSTANDING $500 MILLION 3.10% SENIOR NOTES DUE 2031
Source text: ID:nBSE9BP1Zf
Further company coverage: APSE.NS
(([email protected];))
India's Adani Ports posts quarterly profit rise on strong cargo volumes, appoints new CFO
Feb 3 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS, reported a higher third-quarter profit on Tuesday, reflecting strong volume growth, and appointed Sreedhar Krishna Menon as its new chief financial officer.
The company, India's largest private port operator by volume, said its consolidated net profit rose 21% to 30.54 billion rupees ($338.02 million) for the quarter ended December 31, up from 25.20 billion rupees a year ago.
($1 = 90.3500 Indian rupees)
(Reporting by Komal Salecha in Bengaluru)
(([email protected];))
Feb 3 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS, reported a higher third-quarter profit on Tuesday, reflecting strong volume growth, and appointed Sreedhar Krishna Menon as its new chief financial officer.
The company, India's largest private port operator by volume, said its consolidated net profit rose 21% to 30.54 billion rupees ($338.02 million) for the quarter ended December 31, up from 25.20 billion rupees a year ago.
($1 = 90.3500 Indian rupees)
(Reporting by Komal Salecha in Bengaluru)
(([email protected];))
Adani Ports Handles 44.8 MMT Cargo In January 2026, Up 12% YoY
Feb 2 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
HANDLES 44.8 MMT CARGO IN JANUARY 2026, UP 12% YOY
Source text: ID:nBSE81v2Zh
Further company coverage: APSE.NS
(([email protected];))
Feb 2 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
HANDLES 44.8 MMT CARGO IN JANUARY 2026, UP 12% YOY
Source text: ID:nBSE81v2Zh
Further company coverage: APSE.NS
(([email protected];))
US SEC fraud case against Gautam Adani can proceed after procedural matter resolved
.
By Jonathan Stempel
NEW YORK, Jan 30 (Reuters) - The U.S. Securities and Exchange Commission has arranged to serve Gautam Adani with a civil fraud lawsuit, allowing the regulator's case against India's second-richest person to proceed.
In a Friday filing in the Brooklyn, New York federal court, the SEC and U.S.-based lawyers for Adani and his nephew Sagar Adani said the lawyers agreed to accept the SEC's legal papers, eliminating the need for U.S. District Judge Nicholas Garaufis to rule on how the defendants should be served.
If the judge approves the resolution, the Adanis will have 90 days to respond to the SEC's complaint, which could include requests for a dismissal.
Robert Giuffra, a lawyer for Gautam Adani, declined to comment. Sean Hecker, a lawyer for Sagar Adani, also declined to comment.
The SEC charged the Adanis in November 2024 with violating U.S. securities law by orchestrating a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy ADNA.NS, where both are executives and directors.
Both defendants are in India, and the SEC had reported difficulty in serving them with legal papers.
U.S. prosecutors filed a related criminal case in November 2024 against the Adanis and several other defendants. There have been no public developments in that case for more than a year. The SEC's case had been stalled for most of that time.
Gautam Adani, 63, founded and chairs the conglomerate Adani Group. He is worth about $59 billion according to Forbes magazine.
(Reporting by Jonathan Stempel; Editing by Hugh Lawson)
.
By Jonathan Stempel
NEW YORK, Jan 30 (Reuters) - The U.S. Securities and Exchange Commission has arranged to serve Gautam Adani with a civil fraud lawsuit, allowing the regulator's case against India's second-richest person to proceed.
In a Friday filing in the Brooklyn, New York federal court, the SEC and U.S.-based lawyers for Adani and his nephew Sagar Adani said the lawyers agreed to accept the SEC's legal papers, eliminating the need for U.S. District Judge Nicholas Garaufis to rule on how the defendants should be served.
If the judge approves the resolution, the Adanis will have 90 days to respond to the SEC's complaint, which could include requests for a dismissal.
Robert Giuffra, a lawyer for Gautam Adani, declined to comment. Sean Hecker, a lawyer for Sagar Adani, also declined to comment.
The SEC charged the Adanis in November 2024 with violating U.S. securities law by orchestrating a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy ADNA.NS, where both are executives and directors.
Both defendants are in India, and the SEC had reported difficulty in serving them with legal papers.
U.S. prosecutors filed a related criminal case in November 2024 against the Adanis and several other defendants. There have been no public developments in that case for more than a year. The SEC's case had been stalled for most of that time.
Gautam Adani, 63, founded and chairs the conglomerate Adani Group. He is worth about $59 billion according to Forbes magazine.
(Reporting by Jonathan Stempel; Editing by Hugh Lawson)
India's Adani Green quarterly profit slumps on higher finance costs
BENGALURU, Jan 23 (Reuters) - India's Adani Green Energy ADNA.NS posted a 99% drop in third‑quarter profit on Friday, as higher finance costs inflated its expenses and offset gains from strong power sales and improved capacity utilisation.
Shares of Adani Group's green arm were down 13.8%.
Group stocks fell 2% to 11% after the U.S. SEC sought court approval to serve summons to Gautam Adani and Sagar Adani by email in a fraud and $265 million bribery case.
For Adani Green, consolidated profit slumped to 50 million rupees ($544,051.88) in the quarter ended December 31, from 4.74 billion rupees a year earlier.
A sharp 27.14% rise in expenses to 29.61 billion rupees and a 35.73% surge in finance costs absorbed most of the company’s topline, even as power sales remained strong.
The company also booked a 1.03 billion rupees from its associates and joint ventures, offering a modest cushion to earnings.
Power consumption in India is expected to rise as the economy expands, requiring an estimated 40% increase in coal‑fired capacity to more than 307 gigawatts by 2035, according to government projections.
The country, which currently meets about a third of its power demand from thermal plants, aims to achieve net‑zero emissions by 2070 and plans to more than double its renewable capacity to 500 gigawatts as part of that effort.
Finance costs for the company include interest on borrowings as well as currency‑related gains and losses on its foreign‑currency loans and the impact of derivative hedges used to manage those exposures.
The renewable energy arm of billionaire Gautam Adani’s group, which operates solar, wind and hybrid assets across India, said revenue from power supply rose 21% to 19.93 billion rupees, helped by 5.6 GW of capacity additions over the past year.
The company said the growth also reflected strong plant performance and the commissioning of new capacity at resource‑rich sites in Khavda, Gujarat, and in Rajasthan.
($1 = 91.9030 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
BENGALURU, Jan 23 (Reuters) - India's Adani Green Energy ADNA.NS posted a 99% drop in third‑quarter profit on Friday, as higher finance costs inflated its expenses and offset gains from strong power sales and improved capacity utilisation.
Shares of Adani Group's green arm were down 13.8%.
Group stocks fell 2% to 11% after the U.S. SEC sought court approval to serve summons to Gautam Adani and Sagar Adani by email in a fraud and $265 million bribery case.
For Adani Green, consolidated profit slumped to 50 million rupees ($544,051.88) in the quarter ended December 31, from 4.74 billion rupees a year earlier.
A sharp 27.14% rise in expenses to 29.61 billion rupees and a 35.73% surge in finance costs absorbed most of the company’s topline, even as power sales remained strong.
The company also booked a 1.03 billion rupees from its associates and joint ventures, offering a modest cushion to earnings.
Power consumption in India is expected to rise as the economy expands, requiring an estimated 40% increase in coal‑fired capacity to more than 307 gigawatts by 2035, according to government projections.
The country, which currently meets about a third of its power demand from thermal plants, aims to achieve net‑zero emissions by 2070 and plans to more than double its renewable capacity to 500 gigawatts as part of that effort.
Finance costs for the company include interest on borrowings as well as currency‑related gains and losses on its foreign‑currency loans and the impact of derivative hedges used to manage those exposures.
The renewable energy arm of billionaire Gautam Adani’s group, which operates solar, wind and hybrid assets across India, said revenue from power supply rose 21% to 19.93 billion rupees, helped by 5.6 GW of capacity additions over the past year.
The company said the growth also reflected strong plant performance and the commissioning of new capacity at resource‑rich sites in Khavda, Gujarat, and in Rajasthan.
($1 = 91.9030 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
India's SBI MF to take at least 10% of Adani Group's biggest rupee bond issue, bankers say
Updates with more details
By Dharamraj Dhutia and Khushi Malhotra
MUMBAI, Jan 21 (Reuters) - State Bank of India's mutual fund unit has committed to pick up at least 10% of Adani Power's ADAN.NS nearly $820 million rupee-denominated bond issue, likely to be launched later this week, three merchant bankers said on Wednesday.
The mutual fund, India's biggest in terms of assets under management, is acting as one of the anchor investors for the issue, with a commitment of 7.50 billion rupees, the bankers said, requesting anonymity as they are not authorised to speak to the media.
The planned 75 billion-rupee issue would be the group's largest-ever rupee bond sale.
SBI Mutual Fund and Adani Power did not respond to email queries.
Adani Power is looking to raise 28.60 billion rupees through a two-year option and 26.90 billion rupees via a three-year note.
SBI MF will buy 4.50 billion rupees and three billion rupees of these papers as the anchor investor, the bankers said.
The Adani unit will pay a coupon of 8.00% and 8.20% on the two- and three-year bonds, and 8.30% and 8.40% on four- and five-year papers.
The remaining 6.75 billion rupees and 12.75 billion rupees will be raised through four- and five-year papers, respectively, the bankers said.
Trust Investment Advisors, ICICI Bank and Axis Bank are the arrangers for the issue.
The lenders have will also back the issue by providing commitments worth 3.31 billion rupees and 3 billion rupees, respectively, the bankers said.
The banks did not reply to an email seeking comment.
The bonds are rated 'AA' by Crisil and India Ratings, with the coupons set to step up by 25 basis points for every notch rating downgrade.
Earlier this financial year, another group company, Adani Ports and Special Economic Zone APSE.NS, raised 50 billion rupees by placing 15-year bonds directly with Life Insurance Corporation of India LIFI.NS.
($1 = 91.5630 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)
(([email protected];))
Updates with more details
By Dharamraj Dhutia and Khushi Malhotra
MUMBAI, Jan 21 (Reuters) - State Bank of India's mutual fund unit has committed to pick up at least 10% of Adani Power's ADAN.NS nearly $820 million rupee-denominated bond issue, likely to be launched later this week, three merchant bankers said on Wednesday.
The mutual fund, India's biggest in terms of assets under management, is acting as one of the anchor investors for the issue, with a commitment of 7.50 billion rupees, the bankers said, requesting anonymity as they are not authorised to speak to the media.
The planned 75 billion-rupee issue would be the group's largest-ever rupee bond sale.
SBI Mutual Fund and Adani Power did not respond to email queries.
Adani Power is looking to raise 28.60 billion rupees through a two-year option and 26.90 billion rupees via a three-year note.
SBI MF will buy 4.50 billion rupees and three billion rupees of these papers as the anchor investor, the bankers said.
The Adani unit will pay a coupon of 8.00% and 8.20% on the two- and three-year bonds, and 8.30% and 8.40% on four- and five-year papers.
The remaining 6.75 billion rupees and 12.75 billion rupees will be raised through four- and five-year papers, respectively, the bankers said.
Trust Investment Advisors, ICICI Bank and Axis Bank are the arrangers for the issue.
The lenders have will also back the issue by providing commitments worth 3.31 billion rupees and 3 billion rupees, respectively, the bankers said.
The banks did not reply to an email seeking comment.
The bonds are rated 'AA' by Crisil and India Ratings, with the coupons set to step up by 25 basis points for every notch rating downgrade.
Earlier this financial year, another group company, Adani Ports and Special Economic Zone APSE.NS, raised 50 billion rupees by placing 15-year bonds directly with Life Insurance Corporation of India LIFI.NS.
($1 = 91.5630 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)
(([email protected];))
Adani Ports Says Rajkumar Beniwal Resigns As Director Of Adani Ports
Jan 19 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS - RAJKUMAR BENIWAL RESIGNS AS DIRECTOR OF ADANI PORTS
Source text: ID:nBSE8kVgdW
Further company coverage: APSE.NS
(([email protected];))
Jan 19 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS - RAJKUMAR BENIWAL RESIGNS AS DIRECTOR OF ADANI PORTS
Source text: ID:nBSE8kVgdW
Further company coverage: APSE.NS
(([email protected];))
Moody's Ratings Revises Adani Ports' Outlook To Stable Affirms Baa3 Ratings
Jan 15 (Reuters) -
MOODY'S RATINGS REVISES ADANI PORTS' OUTLOOK TO STABLE; AFFIRMS BAA3 RATINGS
Source text: ID:nMDY8zppj7
Further company coverage: APSE.NS
(([email protected];))
Jan 15 (Reuters) -
MOODY'S RATINGS REVISES ADANI PORTS' OUTLOOK TO STABLE; AFFIRMS BAA3 RATINGS
Source text: ID:nMDY8zppj7
Further company coverage: APSE.NS
(([email protected];))
Adani Ports Says Apsez Handles 41.9 Mmt Of Cargo In Dec'25
Jan 5 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
APSEZ HANDLES 41.9 MMT OF CARGO IN DEC'25
Source text: ID:nBSEB6rTV
Further company coverage: APSE.NS
(([email protected];))
Jan 5 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
APSEZ HANDLES 41.9 MMT OF CARGO IN DEC'25
Source text: ID:nBSEB6rTV
Further company coverage: APSE.NS
(([email protected];))
Adani Ports MD Karan Adani Says Adani Group Setting Up 48 MW Green Data Center In Telangana State With Investment Worth 25 Billion Rupees
Dec 8 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS MD KARAN ADANI: ADANI GROUP SETTING UP 48 MW GREEN DATA CENTER IN TELANGANA STATE WITH INVESTMENT WORTH 25 BILLION RUPEES
Source text: [ID:]
Further company coverage: APSE.NS
(([email protected];))
Dec 8 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS MD KARAN ADANI: ADANI GROUP SETTING UP 48 MW GREEN DATA CENTER IN TELANGANA STATE WITH INVESTMENT WORTH 25 BILLION RUPEES
Source text: [ID:]
Further company coverage: APSE.NS
(([email protected];))
Adani Group CFO Says Battery Energy Storage System Being Considered By The Group
Nov 28 (Reuters) - Adani Total Gas Ltd ADAG.NS:
ADANI GROUP CFO: BATTERY ENERGY STORAGE SYSTEM BEING CONSIDERED BY THE GROUP
ADANI GROUP CFO: WANT TO CREATE MANUFACTURING SYSTEM TO CREATE CHEMICAL BASED SUPPLY CHAIN
ADANI GROUP CFO: MATERIAL AVAILABILITY OF RARE EARTH IS A CHALLENGE
Source text: [ID:]
Further company coverage: ADAG.NS
(([email protected];))
Nov 28 (Reuters) - Adani Total Gas Ltd ADAG.NS:
ADANI GROUP CFO: BATTERY ENERGY STORAGE SYSTEM BEING CONSIDERED BY THE GROUP
ADANI GROUP CFO: WANT TO CREATE MANUFACTURING SYSTEM TO CREATE CHEMICAL BASED SUPPLY CHAIN
ADANI GROUP CFO: MATERIAL AVAILABILITY OF RARE EARTH IS A CHALLENGE
Source text: [ID:]
Further company coverage: ADAG.NS
(([email protected];))
Fitch Revises Outlook On Adani Ports To Stable, Affirms At 'BBB-'
Nov 3 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
FITCH - REVISES OUTLOOK ON ADANI PORTS TO STABLE; AFFIRMS AT 'BBB-'
Source text: ID:nFITc6Jvc9
Further company coverage: APSE.NS
(([email protected];))
Nov 3 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
FITCH - REVISES OUTLOOK ON ADANI PORTS TO STABLE; AFFIRMS AT 'BBB-'
Source text: ID:nFITc6Jvc9
Further company coverage: APSE.NS
(([email protected];))
BREAKINGVIEWS-Adani's reprieve in India is largely symbolic
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to fix extra spacing in fifth paragraph.
By Shritama Bose
MUMBAI, Sept 19 (Reuters Breakingviews) - Gautam Adani is catching a moment of relief. India's securities regulator cleared the tycoon and units of his $152 billion infrastructure conglomerate of stock manipulation charges raised by a short seller in 2023. However, its fortunes won't improve much so long as U.S. charges hang over the group.
The Securities and Exchange Board of India on Thursday said the transactions involving Adani Enterprises ADEL.NS, Adani Ports APSE.NS and Adani Power ADAN.NS between 2018 and 2023 flagged by Nathan Anderson's now-disbanded firm Hindenburg Research did not violate the rules at the time on related party transactions.
The order closes the loop on a more than two-year-old saga marked by a $150 billion reduction in Adani group companies' market value and muddled by allegations of conflict of interest against former SEBI Chair Madhabi Puri Buch, who left her role in February.
The clean bill of health from the watchdog now led by Tuhin Kanta Pandey hardly changes the group's local standing. Indian mutual funds managing some $850 billion in assets were wary of what they see as the group's opacity and its rapid growth before Hindenburg struck, and remain so: Adani Enterprises stock is about 30% lower than at the start of 2023.
A more potent overhang is the U.S. Justice Department's indictment of the tycoon in a $265 million Indian bribery scheme. The Adani group denies any wrongdoing but the charges have complicated the conglomerate's fundraising prospects. Though BlackRock BLK.N subscribed to bonds an Adani unit issued in April to finance an acquisition, that borrowing came at an increased cost than its past deals.
Non-U.S. banks including Barclays BARC.L and DBS DBSM.SI lent $250 million to Adani's airport and ports units last month, Bloomberg reported citing unnamed people familiar with the transactions. But the U.S. issue stalled Adani's efforts to cut its dependence on Indian banks, which hold 47% of its 2.9 trillion rupees ($32.8 billion) debt. The group has returned to equity markets but only for carefully controlled issuances to institutional investors, not the public.
If anything, its stateside problems are widening. A subsidiary of Adani Enterprises has been named among 43 Indian exporters in a U.S. complaint over dumping of solar exports, a person familiar with the situation told Reuters Breakingviews. Similar investigations into Southeast Asian companies have attracted prohibitively high tariffs.
The resumption of trade talks this week between India and the U.S. may smooth the path for Adani to eventually draw a line under the Justice Department's probe, perhaps through a settlement. Until then, its other victories are superficial.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
The Securities and Exchange Board of India on September 18 dismissed allegations of stock manipulation against billionaire Gautam Adani and his group of companies made by U.S. short-seller Hindenburg Research.
The capital markets regulator began investigating the group's flagship Adani Enterprises and its ports and energy units in 2023 after Hindenburg accused them of using tax havens and failing to disclose transactions between related parties. SEBI officials said in the order that the transactions under review, which were carried out between 2018 and 2023, did not qualify as related party transactions under the rules at the time.
Most Adani group shares are trading lower than before Hindenburg's attack https://www.reuters.com/graphics/BRV-BRV/gdvzbgwwlvw/chart.png
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to fix extra spacing in fifth paragraph.
By Shritama Bose
MUMBAI, Sept 19 (Reuters Breakingviews) - Gautam Adani is catching a moment of relief. India's securities regulator cleared the tycoon and units of his $152 billion infrastructure conglomerate of stock manipulation charges raised by a short seller in 2023. However, its fortunes won't improve much so long as U.S. charges hang over the group.
The Securities and Exchange Board of India on Thursday said the transactions involving Adani Enterprises ADEL.NS, Adani Ports APSE.NS and Adani Power ADAN.NS between 2018 and 2023 flagged by Nathan Anderson's now-disbanded firm Hindenburg Research did not violate the rules at the time on related party transactions.
The order closes the loop on a more than two-year-old saga marked by a $150 billion reduction in Adani group companies' market value and muddled by allegations of conflict of interest against former SEBI Chair Madhabi Puri Buch, who left her role in February.
The clean bill of health from the watchdog now led by Tuhin Kanta Pandey hardly changes the group's local standing. Indian mutual funds managing some $850 billion in assets were wary of what they see as the group's opacity and its rapid growth before Hindenburg struck, and remain so: Adani Enterprises stock is about 30% lower than at the start of 2023.
A more potent overhang is the U.S. Justice Department's indictment of the tycoon in a $265 million Indian bribery scheme. The Adani group denies any wrongdoing but the charges have complicated the conglomerate's fundraising prospects. Though BlackRock BLK.N subscribed to bonds an Adani unit issued in April to finance an acquisition, that borrowing came at an increased cost than its past deals.
Non-U.S. banks including Barclays BARC.L and DBS DBSM.SI lent $250 million to Adani's airport and ports units last month, Bloomberg reported citing unnamed people familiar with the transactions. But the U.S. issue stalled Adani's efforts to cut its dependence on Indian banks, which hold 47% of its 2.9 trillion rupees ($32.8 billion) debt. The group has returned to equity markets but only for carefully controlled issuances to institutional investors, not the public.
If anything, its stateside problems are widening. A subsidiary of Adani Enterprises has been named among 43 Indian exporters in a U.S. complaint over dumping of solar exports, a person familiar with the situation told Reuters Breakingviews. Similar investigations into Southeast Asian companies have attracted prohibitively high tariffs.
The resumption of trade talks this week between India and the U.S. may smooth the path for Adani to eventually draw a line under the Justice Department's probe, perhaps through a settlement. Until then, its other victories are superficial.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
The Securities and Exchange Board of India on September 18 dismissed allegations of stock manipulation against billionaire Gautam Adani and his group of companies made by U.S. short-seller Hindenburg Research.
The capital markets regulator began investigating the group's flagship Adani Enterprises and its ports and energy units in 2023 after Hindenburg accused them of using tax havens and failing to disclose transactions between related parties. SEBI officials said in the order that the transactions under review, which were carried out between 2018 and 2023, did not qualify as related party transactions under the rules at the time.
Most Adani group shares are trading lower than before Hindenburg's attack https://www.reuters.com/graphics/BRV-BRV/gdvzbgwwlvw/chart.png
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
India markets regulator dismisses Hindenburg's manipulation allegations against Adani group
BENGALURU, Sept 18 (Reuters) - India’s markets regulator on Thursday dismissed allegations of stock manipulation made by U.S. short-seller Hindenburg Research against billionaire Gautam Adani and his group companies, including Adani Ports APSE.NS and Adani Power ADAN.NS .
(Reporting by Nishit Navin; Editing by Tasim Zahid)
(([email protected];))
BENGALURU, Sept 18 (Reuters) - India’s markets regulator on Thursday dismissed allegations of stock manipulation made by U.S. short-seller Hindenburg Research against billionaire Gautam Adani and his group companies, including Adani Ports APSE.NS and Adani Power ADAN.NS .
(Reporting by Nishit Navin; Editing by Tasim Zahid)
(([email protected];))
EXCLUSIVE-Adani-led Sri Lanka container terminal to double capacity ahead of deadline
Adani Group to double capacity of $840 mln Sri Lanka port by late 2026, says partner
Project proceeds despite Adani withdrawing request for $553 mln U.S. funding
Sri Lanka exploring new Adani renewable investments after $1 billion wind exit
By Krishna N. Das and Uditha Jayasinghe
COLOMBO, Sept 17 (Reuters) - India's Adani Group and its partners are set to double the capacity of a $840 million container terminal in Colombo months ahead of schedule, despite relinquishing $553 million in U.S. funding, an executive at partner firm John Keells Holdings JKH.CM told Reuters.
The deepwater Colombo West International Terminal, located next to a facility run by China Merchants Port Holdings 0144.HK, underscores Sri Lanka's geopolitical significance in the tug-of-war for Indian Ocean influence between New Delhi and Beijing.
Adani opened the first phase of the fully automated terminal in April, making it operational. The second and final phase is underway and expected to be completed by late 2026, three to four months ahead of the February 2027 deadline, said Zafir Hashim, head of transportation at John Keells.
The accelerated timeline, which has not been previously reported, was unexpected in the wake of Sri Lanka's deep financial crisis that brought foreign investment in the country to a virtual standstill.
Once the final phase is complete, the terminal will have the capacity to handle 3.2 million containers annually, Hashim said, boosting the overall throughput of the port in Colombo.
The largest chunk of business flowing through the terminal originates in India.
In December, Adani withdrew its funding request from the U.S. International Development Finance Corp, opting to finance the project through internal accruals and a capital management plan.
The move came after U.S. authorities accused Adani Group Chairman Gautam Adani and others of involvement in a bribery scheme - allegations the group has dismissed as baseless.
"Working with Adani, we really haven't seen anything to worry about," Hashim said at his office in a heritage building in the heart of Colombo.
"And until something is proven, we are partners and there is nothing for us to sort of comment on. They have been a very good partner to work with."
Adani Ports and Special Economic Zone APSE.NS holds a 51% stake in the terminal, John Keells owns 34%, and the Sri Lanka Ports Authority holds the remainder.
Sri Lanka is also exploring further investments from Adani in renewable energy, Energy Minister Kumara Jayakody told Reuters, despite some disagreements earlier this year.
An Adani spokesperson did not respond to a request for comment.
In February, Adani withdrew from two proposed wind power projects worth $1 billion after the newly elected government of President Anura Kumara Dissanayake sought to renegotiate the power purchase rate.
The projects, approved under the previous administration without competitive bidding, faced scrutiny over environmental and transparency concerns.
"Adani pulled out because the government felt the tariff that was offered by them or asked by them was excessive and the government was ready to negotiate," said Arjuna Herath, chair of Sri Lanka’s Board of Investment.
"But Adani was of the view that they could not accept a lower tariff than what they proposed."
Jayakody said Adani later purchased bid documents for two smaller wind projects totalling 100 MW but ultimately did not bid. Still, it was a sign of their renewed interest, he said.
"We have no issues with Adani just because they pulled out," Herath said. "Adani is doing very well in the West Terminal project, and we are very happy."
(Reporting by Krishna N. Das and Uditha Jayasinghe in Colombo; Editing by Saad Sayeed)
Adani Group to double capacity of $840 mln Sri Lanka port by late 2026, says partner
Project proceeds despite Adani withdrawing request for $553 mln U.S. funding
Sri Lanka exploring new Adani renewable investments after $1 billion wind exit
By Krishna N. Das and Uditha Jayasinghe
COLOMBO, Sept 17 (Reuters) - India's Adani Group and its partners are set to double the capacity of a $840 million container terminal in Colombo months ahead of schedule, despite relinquishing $553 million in U.S. funding, an executive at partner firm John Keells Holdings JKH.CM told Reuters.
The deepwater Colombo West International Terminal, located next to a facility run by China Merchants Port Holdings 0144.HK, underscores Sri Lanka's geopolitical significance in the tug-of-war for Indian Ocean influence between New Delhi and Beijing.
Adani opened the first phase of the fully automated terminal in April, making it operational. The second and final phase is underway and expected to be completed by late 2026, three to four months ahead of the February 2027 deadline, said Zafir Hashim, head of transportation at John Keells.
The accelerated timeline, which has not been previously reported, was unexpected in the wake of Sri Lanka's deep financial crisis that brought foreign investment in the country to a virtual standstill.
Once the final phase is complete, the terminal will have the capacity to handle 3.2 million containers annually, Hashim said, boosting the overall throughput of the port in Colombo.
The largest chunk of business flowing through the terminal originates in India.
In December, Adani withdrew its funding request from the U.S. International Development Finance Corp, opting to finance the project through internal accruals and a capital management plan.
The move came after U.S. authorities accused Adani Group Chairman Gautam Adani and others of involvement in a bribery scheme - allegations the group has dismissed as baseless.
"Working with Adani, we really haven't seen anything to worry about," Hashim said at his office in a heritage building in the heart of Colombo.
"And until something is proven, we are partners and there is nothing for us to sort of comment on. They have been a very good partner to work with."
Adani Ports and Special Economic Zone APSE.NS holds a 51% stake in the terminal, John Keells owns 34%, and the Sri Lanka Ports Authority holds the remainder.
Sri Lanka is also exploring further investments from Adani in renewable energy, Energy Minister Kumara Jayakody told Reuters, despite some disagreements earlier this year.
An Adani spokesperson did not respond to a request for comment.
In February, Adani withdrew from two proposed wind power projects worth $1 billion after the newly elected government of President Anura Kumara Dissanayake sought to renegotiate the power purchase rate.
The projects, approved under the previous administration without competitive bidding, faced scrutiny over environmental and transparency concerns.
"Adani pulled out because the government felt the tariff that was offered by them or asked by them was excessive and the government was ready to negotiate," said Arjuna Herath, chair of Sri Lanka’s Board of Investment.
"But Adani was of the view that they could not accept a lower tariff than what they proposed."
Jayakody said Adani later purchased bid documents for two smaller wind projects totalling 100 MW but ultimately did not bid. Still, it was a sign of their renewed interest, he said.
"We have no issues with Adani just because they pulled out," Herath said. "Adani is doing very well in the West Terminal project, and we are very happy."
(Reporting by Krishna N. Das and Uditha Jayasinghe in Colombo; Editing by Saad Sayeed)
India's Adani stops accepting sanctioned vessels at its ports, sources say
NEW DELHI, Sept 11 (Reuters) - India's Adani group has stopped accepting vessels that are sanctioned by the European Union, U.S. and Britain at all of its ports, sources said and orders issued by Adani Ports and Logistics show.
No immediate comment was available from Adani.
(Reporting by Nidhi Verma)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
NEW DELHI, Sept 11 (Reuters) - India's Adani group has stopped accepting vessels that are sanctioned by the European Union, U.S. and Britain at all of its ports, sources said and orders issued by Adani Ports and Logistics show.
No immediate comment was available from Adani.
(Reporting by Nidhi Verma)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Adani Units Raise $275 Million Offshore Debt From Global Lenders- Bloomberg News
Aug 20 (Reuters) -
ADANI UNITS RAISE $275 MILLION OFFSHORE DEBT FROM GLOBAL LENDERS- BLOOMBERG NEWS
Source text: https://tinyurl.com/bddshh3m
Further company coverage: ADEL.NS
(([email protected];))
Aug 20 (Reuters) -
ADANI UNITS RAISE $275 MILLION OFFSHORE DEBT FROM GLOBAL LENDERS- BLOOMBERG NEWS
Source text: https://tinyurl.com/bddshh3m
Further company coverage: ADEL.NS
(([email protected];))
Adani Ports Q1 Consol Net Profit 33.15 Billion Rupees
Aug 5 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS Q1 CONSOL NET PROFIT 33.15 BILLION RUPEES
ADANI PORTS Q1 CONSOL REVENUE FROM OPERATIONS 91.26 BILLION RUPEES
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - GAUTAM S. ADANI RE-DESIGNATED AS NON-EXECUTIVE CHAIRMAN
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - MANISH KEJRIWAL APPOINTED AS ADDITIONAL DIRECTOR FOR 3 YEARS
Source text: [ID:]
Further company coverage: APSE.NS
(([email protected];;))
Aug 5 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS Q1 CONSOL NET PROFIT 33.15 BILLION RUPEES
ADANI PORTS Q1 CONSOL REVENUE FROM OPERATIONS 91.26 BILLION RUPEES
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - GAUTAM S. ADANI RE-DESIGNATED AS NON-EXECUTIVE CHAIRMAN
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - MANISH KEJRIWAL APPOINTED AS ADDITIONAL DIRECTOR FOR 3 YEARS
Source text: [ID:]
Further company coverage: APSE.NS
(([email protected];;))
Adani Ports Handles 41.3 MMT In Jun’25
July 2 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS - HANDLES 41.3 MMT IN JUN’25
ADANI PORTS - Q1 FY26 VOLUME STOOD AT 120.6 MMT
Source text: ID:nnAZN42QILK
Further company coverage: APSE.NS
(([email protected];))
July 2 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS - HANDLES 41.3 MMT IN JUN’25
ADANI PORTS - Q1 FY26 VOLUME STOOD AT 120.6 MMT
Source text: ID:nnAZN42QILK
Further company coverage: APSE.NS
(([email protected];))
Shipping firm Maersk temporarily pauses Haifa port calls
Adds Adani group comment, background on Haifa port owner in paragraphs 3-5
COPENHAGEN, June 20 (Reuters) - Container shipping company Maersk MAERSKb.CO said on Friday it had temporarily paused vessel calls at Israel's Haifa port, amid the country's escalating conflict with Iran.
The Danish company said it had not experienced any further disruptions to its scheduled operations in the region.
Haifa port, which was privatized in 2022, is owned 70% by India's Adani Ports APSE.NS while the remaining 30% is held by Israel's Gadot Group.
Adani Ports is the ports operating arm of Adani Group, led by billionaire Gautam Adani. Including Haifa port, the company operates four ports outside Indian waters.
A spokesperson for the Adani Group did not immediately respond to Reuters' email and text messages requesting comment.
Israel has been hitting Iran from the air since last Friday in what it describes as an effort to prevent Tehran from developing nuclear weapons. Iran has denied plans to develop such weapons and has retaliated by launching counterstrikes on Israel.
On Thursday, Iran's Revolutionary Guards said it had launched combined missile and drone attacks at military and industrial sites linked to Israel's defence industry in Haifa and Tel Aviv.
(Reporting by Jacob Gronholt-Pedersen and Hritam Mukherjee, writing by Stine Jacobsen, editing by Louise Rasmussen and Toby Chopra)
(([email protected]; +45 2156 90 10;))
Adds Adani group comment, background on Haifa port owner in paragraphs 3-5
COPENHAGEN, June 20 (Reuters) - Container shipping company Maersk MAERSKb.CO said on Friday it had temporarily paused vessel calls at Israel's Haifa port, amid the country's escalating conflict with Iran.
The Danish company said it had not experienced any further disruptions to its scheduled operations in the region.
Haifa port, which was privatized in 2022, is owned 70% by India's Adani Ports APSE.NS while the remaining 30% is held by Israel's Gadot Group.
Adani Ports is the ports operating arm of Adani Group, led by billionaire Gautam Adani. Including Haifa port, the company operates four ports outside Indian waters.
A spokesperson for the Adani Group did not immediately respond to Reuters' email and text messages requesting comment.
Israel has been hitting Iran from the air since last Friday in what it describes as an effort to prevent Tehran from developing nuclear weapons. Iran has denied plans to develop such weapons and has retaliated by launching counterstrikes on Israel.
On Thursday, Iran's Revolutionary Guards said it had launched combined missile and drone attacks at military and industrial sites linked to Israel's defence industry in Haifa and Tel Aviv.
(Reporting by Jacob Gronholt-Pedersen and Hritam Mukherjee, writing by Stine Jacobsen, editing by Louise Rasmussen and Toby Chopra)
(([email protected]; +45 2156 90 10;))
India's Adani Group stocks slip on report US probing alleged Iran sanctions evasion
June 3 (Reuters) - Shares of India's Adani Group firms fell between 1% and 2.5% on Tuesday, a day after the Wall Street Journal reported that U.S. prosecutors were probing whether Adani entities had imported Iranian LPG into India through their Mundra port.
An Adani spokesperson called the report "baseless and mischievous" in a statement, adding: "We are not aware of any investigation by U.S. authorities on this subject."
Shares in the group's flagship firm Adani Enterprises ADEL.NS opened 2.2% lower, while Adani Ports APSE.NS fell 2.5%. Adani Total Gas ADAG.NS, Adani Power ADAN.NS, Adani Green ADNA.NS and Adani Energy Solutions ADAI.NS were down between 1% and 2%.
India's benchmark Nifty 50 index .NSEI was down 0.4%, with Adani Enterprises and Adani Ports the top percentage losers.
The WSJ said it had found tankers travelling between the Gulf and billionaire Gautam Adani's Mundra port in western India exhibiting traits that experts say are common for ships evading sanctions.
Reuters could not independently verify the report and the U.S. Department of Justice and the U.S. Attorney's Office in Brooklyn did not respond to requests for comment.
Adani Ports has been the top gainer among Adani Group stocks so far this year, up 16%, while Adani Total has been the top loser, down 11%.
(Reporting by Sethuraman NR; Editing by Mrigank Dhaniwala)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
June 3 (Reuters) - Shares of India's Adani Group firms fell between 1% and 2.5% on Tuesday, a day after the Wall Street Journal reported that U.S. prosecutors were probing whether Adani entities had imported Iranian LPG into India through their Mundra port.
An Adani spokesperson called the report "baseless and mischievous" in a statement, adding: "We are not aware of any investigation by U.S. authorities on this subject."
Shares in the group's flagship firm Adani Enterprises ADEL.NS opened 2.2% lower, while Adani Ports APSE.NS fell 2.5%. Adani Total Gas ADAG.NS, Adani Power ADAN.NS, Adani Green ADNA.NS and Adani Energy Solutions ADAI.NS were down between 1% and 2%.
India's benchmark Nifty 50 index .NSEI was down 0.4%, with Adani Enterprises and Adani Ports the top percentage losers.
The WSJ said it had found tankers travelling between the Gulf and billionaire Gautam Adani's Mundra port in western India exhibiting traits that experts say are common for ships evading sanctions.
Reuters could not independently verify the report and the U.S. Department of Justice and the U.S. Attorney's Office in Brooklyn did not respond to requests for comment.
Adani Ports has been the top gainer among Adani Group stocks so far this year, up 16%, while Adani Total has been the top loser, down 11%.
(Reporting by Sethuraman NR; Editing by Mrigank Dhaniwala)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India's Adani Ports plans 15-year bond issue this week, bankers say
By Dharamraj Dhutia
MUMBAI, May 28 (Reuters) - Adani Ports and Special Economic Zone APSE.NS, India's largest private port operator, plans to raise as much as 50 billion rupees through the sale of bonds maturing in 15 years, two merchant bankers said on Wednesday.
The company is likely to offer a coupon of around 7.75% on the issue and invite bids on Friday, the bankers said, requesting anonymity as they are not authorised to speak to the media.
The group did not immediately respond to Reuters' email seeking comments.
On May 22, the company's board approved raising up to 60 billion rupees through bond sales.
The notes are rated AAA by Crisil and Care.
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
(([email protected];))
By Dharamraj Dhutia
MUMBAI, May 28 (Reuters) - Adani Ports and Special Economic Zone APSE.NS, India's largest private port operator, plans to raise as much as 50 billion rupees through the sale of bonds maturing in 15 years, two merchant bankers said on Wednesday.
The company is likely to offer a coupon of around 7.75% on the issue and invite bids on Friday, the bankers said, requesting anonymity as they are not authorised to speak to the media.
The group did not immediately respond to Reuters' email seeking comments.
On May 22, the company's board approved raising up to 60 billion rupees through bond sales.
The notes are rated AAA by Crisil and Care.
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
(([email protected];))
Adani aides meet Trump team to push for end to US bribery case, Bloomberg News reports
Changes date; Adds Adani Green's response in paragraph 6, updates stock moves in paragraph 9
May 5 (Reuters) - Representatives for Indian billionaire Gautam Adani met officials from U.S. President Donald Trump's administration to seek dismissal of criminal charges in an overseas bribery probe, with a resolution possible in a month, Bloomberg News reported.
In November, U.S. authorities indicted Adani and his nephew, Sagar Adani, alleging they paid bribes to secure power supply contracts, and misled U.S. investors during fund raises there.
The U.S. financial regulator summoned the duo, alleging they misled investors on compliance during a $750 million Adani Green ADNA.NS bond sale in the United States.
The billionaire's aides are trying to make the case that his prosecution does not align with Trump's priorities and should be reconsidered, Bloomberg News reported on Sunday, citing sources familiar with the matter.
The discussions began earlier this year and have picked up in recent weeks, with a resolution possible within a month if the momentum continues, the report said.
Adani Green, in a statement on Monday, reiterated it was not part of any proceedings, but it did not directly comment on the report about the meetings. It had recently said its review of the indictment found no non-compliance or irregularities.
The Justice Department and White House declined comment to Bloomberg on the report and did not respond to Reuters for comment outside business hours.
Adani Enterprises, the group's flagship firm, also did not respond to a request for comment. The group has previously denied any wrongdoing.
Shares of Adani Group's nine Indian listed companies rose between 1.7% and 10.5% on Monday, amid a 0.6% increase in the broader market.
The indictment has erased about $13 billion in market value from Adani Group's nine listed firms.
(Reporting by Bipasha Dey, Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)
(([email protected];))
Changes date; Adds Adani Green's response in paragraph 6, updates stock moves in paragraph 9
May 5 (Reuters) - Representatives for Indian billionaire Gautam Adani met officials from U.S. President Donald Trump's administration to seek dismissal of criminal charges in an overseas bribery probe, with a resolution possible in a month, Bloomberg News reported.
In November, U.S. authorities indicted Adani and his nephew, Sagar Adani, alleging they paid bribes to secure power supply contracts, and misled U.S. investors during fund raises there.
The U.S. financial regulator summoned the duo, alleging they misled investors on compliance during a $750 million Adani Green ADNA.NS bond sale in the United States.
The billionaire's aides are trying to make the case that his prosecution does not align with Trump's priorities and should be reconsidered, Bloomberg News reported on Sunday, citing sources familiar with the matter.
The discussions began earlier this year and have picked up in recent weeks, with a resolution possible within a month if the momentum continues, the report said.
Adani Green, in a statement on Monday, reiterated it was not part of any proceedings, but it did not directly comment on the report about the meetings. It had recently said its review of the indictment found no non-compliance or irregularities.
The Justice Department and White House declined comment to Bloomberg on the report and did not respond to Reuters for comment outside business hours.
Adani Enterprises, the group's flagship firm, also did not respond to a request for comment. The group has previously denied any wrongdoing.
Shares of Adani Group's nine Indian listed companies rose between 1.7% and 10.5% on Monday, amid a 0.6% increase in the broader market.
The indictment has erased about $13 billion in market value from Adani Group's nine listed firms.
(Reporting by Bipasha Dey, Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)
(([email protected];))
DIARY-India economic, corporate events on May 1
BENGALURU, May 1 Reuters - Diary of India economic, corporate events on May 1
ECONOMIC, CORPORATE .BSE500 EVENTS:
Start Date | Start Time | RIC | Company Name | Event Name |
01-May-2025 | NTS | HOME.NS | Home First Finance Company India Ltd | Q4 2025 Home First Finance Company India Ltd Earnings Release |
01-May-2025 | NTS | ADEL.NS | Adani Enterprises Ltd | Q4 2025 Adani Enterprises Ltd Earnings Release |
01-May-2025 | NTS | APSE.NS | Adani Ports and Special Economic Zone Ltd | Q4 2025 Adani Ports and Special Economic Zone Ltd Earnings Release |
01-May-2025 | NTS | ETEA.NS | Eternal Ltd | Q4 2025 Eternal Ltd Earnings Release |
(Compiled by Bengaluru Newsroom)
BENGALURU, May 1 Reuters - Diary of India economic, corporate events on May 1
ECONOMIC, CORPORATE .BSE500 EVENTS:
Start Date | Start Time | RIC | Company Name | Event Name |
01-May-2025 | NTS | HOME.NS | Home First Finance Company India Ltd | Q4 2025 Home First Finance Company India Ltd Earnings Release |
01-May-2025 | NTS | ADEL.NS | Adani Enterprises Ltd | Q4 2025 Adani Enterprises Ltd Earnings Release |
01-May-2025 | NTS | APSE.NS | Adani Ports and Special Economic Zone Ltd | Q4 2025 Adani Ports and Special Economic Zone Ltd Earnings Release |
01-May-2025 | NTS | ETEA.NS | Eternal Ltd | Q4 2025 Eternal Ltd Earnings Release |
(Compiled by Bengaluru Newsroom)
India's Adani Ports buys Australian terminal in $2.5-billion deal
Recasts throughout with information from Adani Ports and background
April 17 (Reuters) - Adani Ports APSE.NS, India's largest private port operator, said on Thursday it will buy an Australian deep-water coal export facility for an enterprise value of about A$3.98 billion ($2.54 billion), as it aims to grow its global presence.
As a part of the deal, Adani Port will issue 143.8 million shares to Carmichael Rail and Port Singapore Holdings to buy Abbot Point Port Holdings, which owns and operates the North Queensland Export Terminal, the port operator said.
North Queensland Export Terminal, which is a deep-water coal export terminal with a capacity of 50 million tonnes per annum, was purchased by Adani Ports in 2011 before it was sold to the Adani family in 2013 in a $2 billion deal.
As part of the deal, Adani Ports will also assume other non-core assets and liabilities on Abbot Point Port's balance sheet, which the company will realize within a few months of the deal, it added.
The terminal, which is located on Australia's east coast, is well-positioned for strong growth, supported by rising capacity, medium-term contract renewals, and future opportunities in green hydrogen exports, Adani Ports CEO Ashwani Gupta said.
The company aims to take the port's EBITDA growth to A$400 million within four years, Gupta said.
($1 = 1.5684 Australian dollars)
(Reporting by Shivani Tanna in Bengaluru; Editing by Shailesh Kuber)
(([email protected];))
Recasts throughout with information from Adani Ports and background
April 17 (Reuters) - Adani Ports APSE.NS, India's largest private port operator, said on Thursday it will buy an Australian deep-water coal export facility for an enterprise value of about A$3.98 billion ($2.54 billion), as it aims to grow its global presence.
As a part of the deal, Adani Port will issue 143.8 million shares to Carmichael Rail and Port Singapore Holdings to buy Abbot Point Port Holdings, which owns and operates the North Queensland Export Terminal, the port operator said.
North Queensland Export Terminal, which is a deep-water coal export terminal with a capacity of 50 million tonnes per annum, was purchased by Adani Ports in 2011 before it was sold to the Adani family in 2013 in a $2 billion deal.
As part of the deal, Adani Ports will also assume other non-core assets and liabilities on Abbot Point Port's balance sheet, which the company will realize within a few months of the deal, it added.
The terminal, which is located on Australia's east coast, is well-positioned for strong growth, supported by rising capacity, medium-term contract renewals, and future opportunities in green hydrogen exports, Adani Ports CEO Ashwani Gupta said.
The company aims to take the port's EBITDA growth to A$400 million within four years, Gupta said.
($1 = 1.5684 Australian dollars)
(Reporting by Shivani Tanna in Bengaluru; Editing by Shailesh Kuber)
(([email protected];))
Adani Ports Commences Operations at Colombo Terminal
April 7 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS: ADANI'S COLOMBO TERMINAL COMMENCES OPERATIONS
Source text: ID:nBSE8d8ClW
Further company coverage: APSE.NS
(([email protected];))
April 7 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS: ADANI'S COLOMBO TERMINAL COMMENCES OPERATIONS
Source text: ID:nBSE8d8ClW
Further company coverage: APSE.NS
(([email protected];))
Adani Ports And Special Economic Zone Says Handles Record Cargo Volume In Mar'25
April 2 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - HANDLES RECORD CARGO VOLUME IN MAR'25
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - HANDLES 41.5 MMT CARGO IN MAR'25, UP 9% YOY
Source text: ID:nBSE6GJJlX
Further company coverage: APSE.NS
(([email protected];))
April 2 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - HANDLES RECORD CARGO VOLUME IN MAR'25
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - HANDLES 41.5 MMT CARGO IN MAR'25, UP 9% YOY
Source text: ID:nBSE6GJJlX
Further company coverage: APSE.NS
(([email protected];))
Adani Ports MD Says Adani Group To Invest 55 Billion Rupees To Expand Trivandrum International Airport
Feb 21 (Reuters) - Adani Enterprises Ltd ADEL.NS:
ADANI PORTS MD: ADANI GROUP TO INVEST 55 BILLION RUPEES TO EXPAND THE TRIVANDRUM INTERNATIONAL AIRPORT
Source text: [ID:]
Further company coverage: ADEL.NS
(([email protected];;))
Feb 21 (Reuters) - Adani Enterprises Ltd ADEL.NS:
ADANI PORTS MD: ADANI GROUP TO INVEST 55 BILLION RUPEES TO EXPAND THE TRIVANDRUM INTERNATIONAL AIRPORT
Source text: [ID:]
Further company coverage: ADEL.NS
(([email protected];;))
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What does Adani Ports &Special do?
Adani Ports and Special Economic Zone (APSEZ) is India's largest Integrated Transport Utility company with global presence across the verticals. As a key player in the industry, APSEZ is backed by the Adani Group and has port operations across nine maritime states and union teritorries including Gujarat, Maharashtra, Goa, Kerala, Tamil Nadu, Andhra Pradesh, Puducherry, Odisha and West Bengal. APSEZ operates India’s largest port-based manufacturing hub in Mundra, Gujarat, covering over thousands of hectares along the Gulf of Kachchh. APSEZ also provides specialised dredging and reclamation solutions for port and harbour construction.
Who are the competitors of Adani Ports &Special?
Adani Ports &Special major competitors are Gujarat Pipavav Port, JSW Infrastructure, Container Corp, Delhivery, GE Shipping, Blue Dart Express, Shipping Corpn.. Market Cap of Adani Ports &Special is ₹3,48,232 Crs. While the median market cap of its peers are ₹18,355 Crs.
Is Adani Ports &Special financially stable compared to its competitors?
Adani Ports &Special seems to be less financially stable compared to its competitors. Altman Z score of Adani Ports &Special is 4.09 and is ranked 7 out of its 8 competitors.
Does Adani Ports &Special pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Adani Ports &Special latest dividend payout ratio is 13.63% and 3yr average dividend payout ratio is 16.65%
How has Adani Ports &Special allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is Adani Ports &Special balance sheet?
Balance sheet of Adani Ports &Special is strong. But short term working capital might become an issue for this company.
Is the profitablity of Adani Ports &Special improving?
Yes, profit is increasing. The profit of Adani Ports &Special is ₹12,280 Crs for TTM, ₹11,092 Crs for Mar 2025 and ₹8,111 Crs for Mar 2024.
Is the debt of Adani Ports &Special increasing or decreasing?
Yes, The net debt of Adani Ports &Special is increasing. Latest net debt of Adani Ports &Special is ₹41,333 Crs as of Sep-25. This is greater than Mar-25 when it was ₹32,599 Crs.
Is Adani Ports &Special stock expensive?
Adani Ports &Special is not expensive. Latest PE of Adani Ports &Special is 27.89, while 3 year average PE is 31.14. Also latest EV/EBITDA of Adani Ports &Special is 17.86 while 3yr average is 19.68.
Has the share price of Adani Ports &Special grown faster than its competition?
Adani Ports &Special has given better returns compared to its competitors. Adani Ports &Special has grown at ~8.2% over the last 2yrs while peers have grown at a median rate of -4.53%
Is the promoter bullish about Adani Ports &Special?
Promoters seem to be bullish about the company. Latest quarter promoter holding is 68.02% and last quarter promoter holding is 65.89%.
Are mutual funds buying/selling Adani Ports &Special?
The mutual fund holding of Adani Ports &Special is decreasing. The current mutual fund holding in Adani Ports &Special is 5.1% while previous quarter holding is 5.57%.