Adani Power

Adani Power won an appeal before the Appellate Tribunal for Electricity, which set aside a Maharashtra Electricity Regulatory Commission order. APTEL directed MERC to issue consequential orders in line with an earlier APTEL judgment and calculate Change in Law compensation using the prescribed operational parameters. The appeal concerned litigation that had been identified as pending in the company's August 2023 disclosure. No compensation amount was specified, leaving MERC to determine the resulting payment. Adani Power operated 18,330 MW of thermal capacity, with 95% covered by long-term power purchase agreements, and reported ₹54,241 crore of operating revenue in FY26.

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Aug 20 (Reuters) - Adani Power Ltd ADAN.NS:

• ADANI POWER - APTEL ALLOWS ADANI POWER APPEAL AND SETS ASIDE MERC ORDER

• ADANI POWER - APTEL DIRECTS MERC TO COMPUTE CHANGE IN LAW COMPENSATION FOR ADANI POWER

Source text: ID:nBSE4cXDJd

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Adani Power’s promoter group reported a net increase of 34.04 crore shares, taking its combined holding to 74.96% from 73.19%. The transactions included a 0.65% block transfer from Ardour Investment Holding to Adani Infra on 4 August 2026, alongside purchases by other promoter entities and four family members dating back to August 2024. Adani Power operated 18,330 MW of capacity across 13 thermal plants and 40 MW of solar capacity, with about 95% of capacity under long-term power-purchase agreements. It reported Q1 FY27 consolidated EBITDA of ₹6,983 crore and net profit of ₹4,867 crore.

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By Abhijith Ganapavaram and Aditya Kalra

NEW DELHI, July 23 (Reuters) - Indian billionaire Gautam Adani's group is considering launching a new airline, a move that could potentially reshape competition in a market dominated by IndiGo and Air India, said two sources with direct knowledge of the matter.

The plan signals a change of strategy for the ports-to-cement group which operates eight airports in India, including two in Mumbai, and has an $11 billion expansion strategy, but said earlier it was not looking to enter the airline business.

No final decision has been made and the group is still weighing the idea, given it is considered a risky business where it is difficult to make money, said the first of the two sources, who declined to be identified as they were not authorised to speak to the media.

The Indian government has privately nudged business groups, including Adani, to consider starting an airline due to scrutiny of Air India since its fatal crash in Ahmedabad last year, and market leader IndiGo's operational challenges that caused widespread air traffic disruptions in December, the source said.

"It's a difficult business, but Adani wants to consider it in the national interest," the source added, saying the government had realised that Air India's struggles and the IndiGo crisis meant another major airline was needed.

Shares of Adani's flagship Adani Enterprises ADEL.NS shares were down more than 3% on Thursday. Its internal discussions about an airline are in initial stages and there is no timeline on a decision.

Adani is Asia's second-richest person with a net worth of around $89 billion, but an aviation foray would be one of the boldest bets the billionaire has taken in his marquee career.

High taxes, fierce competition and supply-chain snags have driven Indian airlines Kingfisher, Jet Airways and Go ​First into bankruptcy over the ⁠last 15 years.

While Adani has fast expanded in sectors like ports and airports, he has since 2024 contended with charges in the United States for paying bribes to secure a solar project - though there has been relief recently as the U.S. authorities have decided to drop those charges.

DUOPOLY CONCERNS

India is one of the world's fastest-growing aviation markets, but duopoly concerns have weighed as the nation's largest airline, IndiGo, commands a 65.4% domestic market share and Air India has a 25% share.

India said last year it aims to increase airports to 350-400 by 2047, from 74 in 2014, as air traffic soars and airlines place record plane orders with Boeing BA.N and Airbus AIR.PA.

Adani's foray "has the potential to reshape India’s aviation landscape," said Rajan Mehra, former India head of Qatar Airways, adding that India must also focus on robust regulatory safeguards and ensure there remains a a level playing field for all airlines.

One of the options Adani is considering is buying a stake in an existing airline, said the second source, adding "all options" were on the table.

In December, India warned IndiGo of regulatory action after it cancelled thousands of flights because of a shortage of pilots, stranding passengers and forcing government action to limit a surge in airfares caused by the crisis.

Loss-making Air India has faced a series of audit lapses as it battles intense scrutiny since last year's Dreamliner crash that killed 260 people, while smaller airline SpiceJet is battling a host of financial challenges and salary delays.

Air India is unlisted, but IndiGo INGL.NS shares were down more than 1% in Mumbai trade on Thursday after news of Adani's potentially entry, while SpiceJet SPJT.BO surged 10%.

Adani's youngest son, Jeet Adani, who is a director at Adani Airports, told Reuters in December the group was not interested in the airline business because it has thin margins and the group did not have the "mindset" needed to run a carrier.

"Our comfort and our core competency is in creating hard assets on the ground, long-gestation assets, running them quite efficiently," he said at the time.

Adani has since continued to bet big on aviation infrastructure. Adani Airports has plans to invest more than $2 ​billion to develop airport-linked commercial districts ‌across six locations in the country, it said last month, including hotels, retail centres and office space.

Adani has also approached the government seeking to ​dilute a clause restricting certain airport operators ‌from holding stakes in scheduled airlines, the Economic Times reported earlier on Thursday.

"There are niche examples of airports also owning airlines in markets such as Kyrgyzstan, Thailand and Vietnam ... Other airlines in India would rightfully be concerned about a possible conflict of interest," said independent aviation analyst Brendan Sobie.

Meanwhile, a March ​inspection by health officials of Adani's Mumbai international airport found ​the sale of nicotine pouches at its duty-free shops was against the ⁠law -- a decision that his company is now challenging at Mumbai's High Court, Reuters has reported.

(Reporting by Abhijith Ganapavaram, Aditya Kalra; Editing by Jacqueline Wong, Jamie Freed and Kim Coghill)

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Adani Power's board approved a qualified institutions placement to raise up to ₹15,000 crore, the company said on Tuesday. The board also increased the borrowing limit under the Companies Act to ₹1,00,000 crore from ₹75,000 crore, to enable fundraising through debt securities. Both proposals require shareholder approval, and an extraordinary general meeting has been convened for August 14, 2026. Separately, the board approved the unaudited consolidated financial results for the quarter ended June 2026, reporting a net profit of ₹4,866.60 crore on total income of ₹19,322.30 crore.

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Adani Power's board on July 22 approved a QIP to raise up to Rs. 15,000 crore and also cleared quarterly financial results showing a 47% jump in consolidated net profit to Rs. 4,867 crore for the June 2026 quarter. The fundraising, to be executed in one or more tranches, will require shareholder approval at an extraordinary general meeting scheduled for August 14. The board also approved increasing the company's overall borrowing limit from Rs. 75,000 crore to Rs. 1 lakh crore. The strong June-quarter performance was driven by higher electricity sales volumes, improved tariff realisations, and one-time prior-period income recognition of Rs. 1,386 crore.

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July 22 (Reuters) - Adani Power Ltd ADAN.NS:

• TO RAISE FUNDS UPTO 150 BILLION RUPEES

• APPROVED RAISING OF FUNDS VIA QIP

• APPROVED INCREASING BORROWING LIMITS FROM 750 BILLION RUPEES TO 1 TRLN RUPEES

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NEW DELHI, July 20 (Reuters) - India's coal-fired power plants have sufficient coal stocks to run for about two weeks at higher operating rates, easing concerns about fuel shortages amid rising electricity demand and below-average monsoon rainfall.

• Coal stocks at power plants stood at 42.8 million tonnes as of July 12, enough for 14 days of operation at an 85% plant load factor, the power ministry said in a reply to parliament on Monday.

• Utilities are also getting sufficient coal supplies to meet their daily requirements, it added.

• India's peak power demand surged last week to nearly 270.1 gigawatts (GW), driven by higher cooling demand as an El Nino pattern contributed to weaker rainfall.

• India's peak power demand had reached 270.2 GW in May, and the government expects it to touch 280 GW this year due to the absence of stronger monsoon rains.

• Coal remains the backbone of India's power system despite the country's aggressive renewable energy expansion.

• Coal and lignite-fired plants accounted for 69.5% of electricity supplied during April-June and generated about 75% of power during non-solar peak-demand hours, according to the ministry.

• The government has intensified coordination among the coal, power and railway ministries to monitor supplies and prioritize coal transportation to power stations, the power ministry said.

• India added 9.47 GW of coal-fired generation capacity in 2025-26 and a further 2.26 GW between April and July, helping support record electricity demand, the government said.

(Reporting by Sethuraman NR; Editing by Susan Fenton)

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NEW YORK, July 17 (Reuters) - The top federal prosecutor in Brooklyn said he had no basis to dispute the U.S. Department of Justice's decision to abandon its prosecution of Indian billionaire Gautam Adani, but stopped short of saying whether he agreed with dismissing the fraud and bribery case.

In a letter on Friday to the judge overseeing the case, U.S. Attorney Joseph Nocella Jr. said he was "not the decisionmaker" behind dropping the case, and had no basis to believe the reasons advanced by his supervisor Trent McCotter, a top Justice Department official, were not the "real grounds" for a dismissal.

U.S. District Judge Nicholas Garaufis had asked Nocella to explain whether he agreed or disagreed with McCotter's reasons for dropping the Adani case, and whether there were other bases for doing so.

Nocella's office did not immediately respond to a request for comment.

(Reporting by Jonathan Stempel in New York; Editing by Sanjeev Miglani and Cynthia Osterman)

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July 15 (Reuters) - Adani Power Ltd ADAN.NS:

• ADANI POWER LTD - POWER SUPPLY AGREEMENT FOR LONG-TERM SUPPLY OF 1600 MW THERMAL POWER

• ADANI POWER - SIGNS 25-YEAR POWER SUPPLY AGREEMENT WITH MSEDCL FOR 1600 MW

Source text: ID:nBSE7R02Px

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By Aditya Kalra

NEW DELHI, July 7 (Reuters) - An Indian investigation found that Mumbai international airport's duty-free shops run by billionaire Gautam Adani's business group breached the law by selling nicotine pouches, which the government considers a public health hazard, according to documents from an investigation.

Adani denies wrongdoing and is asking judges to declare that a law covering drugs and cosmetics does not apply to duty-free shops and nicotine pouches, according to court papers reviewed by Reuters. Lawyers say the case could set a precedent on how India regulates sales at such outlets and a government win could block sales of one of the world's fastest-growing nicotine products in India's airports.

India banned e-cigarettes and approved certain nicotine replacements like patches and chewing gums following a registration process under the Drugs and Cosmetics Act. Nicotine pouches remain illegal and unapproved.

Tobacco kills 1.35 million people each year in India and a government study in June called nicotine pouches "a new and largely unregulated public health concern," with widespread illegal sales and consumption among people aged 18 to 40.

After receiving complaints from anti-nicotine group Mothers Against Vaping, India's drug department inspected duty-free shops at Mumbai's international airport in March and found imported nicotine pouches were being sold in the departure zone without the necessary approvals, government documents show.

"Nicotine pouches also fall under the definition of a drug ... a valid registration certificate and import license are mandatory," an assistant drugs controller wrote in an April 2 letter to the airport's customs authority, attaching an "investigation report."

Mumbai Travel Retail, a joint venture led by Adani with Dubai's Flemingo, was asked to discontinue sales of nicotine pouches and seek approvals, government letters show.

Adani declined to comment. Flemingo and the Indian health and customs authority did not respond to requests for comment.

Selling a drug without a license could draw a prison term of at least three years and a fine of at least 100,000 rupees ($1,049), or three times the value of the drugs confiscated, whichever is higher.

Reuters is first to report the details of the investigation into Adani sales and its court challenge in Mumbai.

CAN GUNS BE SOLD AT AIRPORT?

Adani's firm has told authorities the shops in the international departure area conduct business "beyond the customs frontiers of India" and are outside the regulatory reach of domestic regulations, its non-public High Court filing shows.

"If a murder occurs in the store, will Indian police have no powers to arrest? They will have ... Can they sell guns or ammunition? No," said Murali Neelakantan, who was previously general counsel at Indian drugmakers Cipla and Glenmark Pharmaceuticals.

On June 24, judges in Mumbai's High Court said "no coercive action" should be taken on the existing stock of pouches at Mumbai's duty-free shops, scheduling the case for a July 14 hearing.

POUCHES A "RECENT INNOVATION"

Adani runs eight airports in India and is targeting an $11 billion expansion that includes a bet on duty-free offerings. At Mumbai's international airport, it runs more than 30 duty-free shops.

In court, Adani said nicotine pouches "are not a drug" and are a "recent innovation" that was not anticipated by existing tobacco control laws, documents show.

Since August, Adani's firm imported Philip Morris' PM.N Zyn nicotine pouches in various flavours worth more than $29,000, and the White Fox brand from Swedish Smokeless Solutions worth $7,700, customs records showed. The companies did not respond to Reuters queries.

Philip Morris says Zyn's U.S. sales in 2025 doubled from 2023. The June Indian government study said both Zyn and White Fox were being sold by Indian vendors illegally.

Separately, Flemingo Dutyfree has told the High Court it operates shops at international seaports - including in Mumbai - and fears similar actions as it was "in the process of stocking" nicotine pouches, documents show.

Seeking licenses for nicotine pouches will compel suppliers to withdraw them from the market, making "the duty free industry in India unattractive to passengers," it said.

(Reporting by Aditya Kalra; Additional reporting by Arpan Chaturvedi; Editing by Thomas Derpinghaus)

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May 21 (Reuters) - Adani Power Ltd ADAN.NS:

• ADANI POWER LTD- ENTERS SHARE PURCHASE AGREEMENT FOR ACQUISITION OF 24% SHARES OF JAIPRAKASH POWER VENTURES LIMITED, HELD BY JAL

• ADANI POWER LTD- ENTERS BUSINESS TRANSFER AGREEMENT FOR ACQUISITION OF 180 MW THERMAL POWER PLANT OF JAL LOCATED IN CHURK AND OTHER RELATED ASSETS

• ADANI POWER LTD- COST OF ACQUISITION FOR SPA OF 24% OF SHAREHOLDING OF JPVL IS 29.93 BILLION RUPEES

• ADANI POWER LTD- COST OF ACQUISITION FOR 180 MW THERMAL POWER PLANT OF JAL LOCATED IN CHURK IS 12 BILLION RUPEES

Source text: ID:nnAZN4SXJGP

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By Neha Arora

NEW DELHI, May 19 (Reuters) - India's top copper producers, including Adani, Vedanta and Hindalco, are opposing plans to make copper wire made by secondary refiners acceptable under government quality standards, saying products made from scrap pose safety risks.

The dispute has triggered a months-long standoff between large primary producers and smaller refiners over fire-refined high conductivity (FRHC) copper rods, which are mainly used in electrical applications such as transformers, power cables and wires.

Large producers argue that copper rods from smaller refiners, which mostly use scrap as raw material, should not be under the same standards because the products may not consistently meet the purity levels required for electrical applications.

"Indian fire (secondary) refiners may not have the requisite technology and hence are incapable of manufacturing the FRHC grade consistently," the large producers said, according to the minutes of a March 23 meeting of the Bureau of Indian Standards (BIS) that was reviewed by Reuters.

The state-run BIS oversees product quality standards in India.

"Many of the manufacturers are not refining and just re-melting scrap to make substandard product," the minutes said of the views expressed by the Indian Primary Copper Association (IPCPA).

The IPCPA's partners include Adani ADEL.NS, Vedanta VDAN.NS, Hindalco HALC.NS and Hindustan Copper HCPR.NS.

In the minutes, secondary producers defended their production method, saying fire refining is used to control the chemical composition of copper and meets conductivity requirements used internationally for cable manufacturing.

The BIS did not respond to requests from Reuters for comment.

IPCPA President Rohit Pathak said the industry body was seeking separate standards for FRHC copper because "fire refining which uses copper scrap as the primary input, cannot remove impurities to achieve 99.99% purity required for electrical applications."

"Lower purity will increase overheating and fire risks. A separate standard will help ensure safe usage," Pathak, who is also CEO of Hindalco's copper business, told Reuters in a statement.

India's total demand for copper rods in the fiscal year to end-March 2025 was estimated at 1.2 million metric tons, of which imports accounted for 0.1 million tons, while FRHC copper rod production stood at 0.4 million tons, according to industry estimates.

Imports are mainly sourced from the United Arab Emirates, although supplies have been disrupted this year by the Middle East conflict.

As a result of the dispute, about 400,000 tons of copper wire rod is currently being traded outside the quality control regime, an industry source said.

(Reporting by Neha Arora; editing by Mayank Bhardwaj and Raju Gopalakrishnan)

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May 15 (Reuters) - Shares of India's Adani group companies rose between 0.5% and 3.5% on Friday, after media reports that the U.S. Justice Department was close to dropping criminal fraud charges against billionaire Gautam Adani.

Adani on Thursday also resolved a related civil fraud lawsuit brought by the U.S. Securities and Exchange Commission, over an alleged scheme to bribe Indian government officials, subject to court approval.

Shares of the group's flagship, Adani Enterprises ADEL.NS, rose as much as 3.2% in pre-open trade but came off to trade 1.6% higher at 2,756 rupees.

(Reporting by Surbhi Misra in Bengaluru; Editing by Mrigank Dhaniwala)

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May 13 (Reuters) -

• ADANI POWER SEEKS 80 BILLION RUPEES IN DEBT TO FUND EXPANSION - BLOOMBERG NEWS

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May 12 (Reuters) - Adani Power Ltd ADAN.NS:

• INDIA ANTITRUST AGENCY: APPROVES ACQUISITION OF 100% STAKE OF GVK ENERGY BY ADANI POWER

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By Sarita Chaganti Singh

NEW DELHI, May 11 (Reuters) - India plans to reduce the size of exclusion zones around nuclear plants to free up significant amounts of land for reactor expansions, three officials familiar with the matter said, in a move to attract private investment that is likely to face backlash from opposition parties and the public.

At present, all nuclear reactors in India have a minimum buffer of about 1 km (0.62 miles) around reactors where no habitation or economic activity is allowed, a provision meant to keep radiation risks at a distance.

India's atomic energy regulator and the Department of Atomic Energy have approved an "in principle" plan to reduce these buffers, the three officials said. They requested anonymity because they are not authorised to speak to the media.

The changes are likely to be included in final rules that are due to be published in the next couple of months after the country opened its nuclear generation sector to private and foreign players last year. India aims to expand nuclear capacity to 100 gigawatts by 2047 from about 8 gigawatts at present as part of its clean energy strategy.

The in-principle agreement between the Atomic Energy Regulatory Board and the Department of Atomic Energy to reduce the exclusion zones around nuclear plants to free up land for expansion as well as the size of the cuts have not been previously reported. The proposal was not part of a bill that was approved by parliament and it is expected to be set out in detailed rules that have yet to be released.

India's Department of Atomic Energy, its Atomic Energy Regulatory Board and the Prime Minister's Office did not respond to queries from Reuters.

The revisions to the buffer zones would cut the land needs by half for large reactors and by nearly two-thirds for small units, potentially allowing two to three times more capacity on the sites, according to an internal presentation reviewed by Reuters.

With smaller exclusion zones, a 10-reactor nuclear complex with 700 megawatts of capacity each could be set up within less than 700 hectares, the presentation showed. India's existing nuclear plants typically use around 1,000 hectares of land.

Small modular reactors could also be placed in industrial zones for captive use, two of the officials said. And cutting exclusion zones would also allow existing plants to add new reactors more easily using shared infrastructure, the presentation said.

The change is aimed at easing land constraints, a key hurdle, as the private sector - including Tata Power TTPW.NS, Adani Power ADAN.NS and Reliance Industries RELI.NS - looks to invest in the sector.

The three officials said the exclusion zones are being reduced because of safer reactor technologies, in line with global norms followed by countries like the U.S. and France that do not fix exclusion distances.

Strict siting rules - including distance from human settlements and safety risks - along with lengthy land acquisition processes, often exceeding four to five years, make identifying new sites difficult.

The decision on exclusion zones, however, risks a backlash in a country where nuclear power has faced public opposition despite no major accident record.

For much of the public, nuclear power in India is closely associated with radiation risks and the exclusion zones serve as a measurable assurance that risk is kept at a distance.

Some Indian lawmakers, while debating the opening of the nuclear sector in parliament in December, said the reforms prioritised private investment over safety and flagged risks including radiation and nuclear waste. Opposition leaders said the legal amendments risked weakening nuclear safety safeguards by diluting liability protections, easing reactor siting rules and expanding private participation without stronger independent oversight.

The bill was cleared by parliament despite the safety concerns raised by opposition lawmakers during the debate.

"The reduction is a meaningful shift that has been under discussion for nearly 18 months," said R. Srikanth, the engineering dean at the National Institute of Advanced Studies, a research institute. "Data from existing plants show that radiation levels around them are significantly lower than natural background levels in parts of coastal Kerala and Tamil Nadu."

"Unfortunately, good news of the Indian nuclear power has been kept hidden from the public," he said. "We need to overcome this all-pervasive sense of secrecy around civilian nuclear power plants."

(Reporting by Sarita Chaganti Singh; Editing by Thomas Derpinghaus)

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** Brokerage Jefferies raises price target for India's Adani Power ADAN.NS to 255 rupees from 185 rupees after Q4 results

** New PT represents a 14.9% upside to the stock's last close

** ADAN up 3.1% to 228.50 rupees in morning trading on Monday

** Brokerage says it expects co's contracted thermal power tariffs to move higher

** Says, Adani Power's capacity is expected to rise from 18.2 GW in FY26 to at least 31 GW by 2030, with management targeting 42 GW by 2032

** The company's Q4 profit jumped 52.3% to 40.17 billion rupees helped by one-time tax gain

** Adani Power trades at a forward 12-month PE of 31.76, compared to industry median of 16.72

** YTD, stock up 57.8% vs a 7.3% decline in the Nifty 50 Index .NSEI

(Reporting by Abhinav Parmar in Bengaluru)

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May 1 (Reuters) - Indian billionaire Gautam Adani's group said on Friday that it plans an internal restructuring aimed at speeding up decision-making, as the ports-to-power conglomerate pushes for growth across its businesses.

The move by Adani Group comes as investment activity picks up across India, Asia's third-biggest economy, powered by heavy infrastructure spending and a revival in private capital expenditure.

Under the plans, the company will introduce a three-layer organisational structure with fewer decision-makers.

"The strategy is anchored in three pillars and supported by strong liquidity and access to capital, enabling accelerated capex deployment and faster project execution," the group said.

This is the conglomerate's second restructuring since 2015, when it spun off its ports and power businesses into separately listed companies: Adani Ports APSE.NS and Adani Power ADAN.NS.

The group will also streamline its contractor base, focusing on fewer, larger partners to improve coordination and execution speed, while providing them with easier access to financing, Adani said.

On Thursday, the group's flagship firm Adani Enterprises ADEL.NS reported its first quarterly loss in 17 quarters, as it grappled with higher depreciation related to a newly operational airport near Mumbai and a copper plant in the western state of Gujarat, along with a surge in expenses.

(Reporting by Kashish Tandon and Mridula Kumar in Bengaluru; Editing by Sherry Jacob-Phillips)

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April 29 (Reuters) - Adani Power Ltd ADAN.NS:

• RE-APPOINTS ANIL SARDANA AS MANAGING DIRECTOR FOR 1 YEAR EFFECTIVE JULY 11, 2026

• Q4 CONSOL NET PROFIT 40.17 BILLION RUPEES

• Q4 CONSOL REVENUE FROM OPERATIONS 142.23 BILLION RUPEES

Source text: ID:nBSE3yx1jr

Further company coverage: ADAN.NS

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NEW YORK, April 7 (Reuters) - Gautam Adani, one of India's richest people, will ask a judge to dismiss the U.S. Securities and Exchange Commission's civil fraud case against him, his lawyers said on Tuesday.

In a filing in the Brooklyn, New York federal court, Adani's lawyers said the SEC's claims were "impermissibly extraterritorial," and no statements challenged by the regulator were actionable. Adani and his nephew Sagar Adani, who is also a defendant, also disputed there was any credible evidence supporting the bribery scheme that the SEC alleged.

(Reporting by Jonathan Stempel in New York)

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April 2 (Reuters) - Adani Power Ltd ADAN.NS:

• ADANI POWER LTD - LETTER OF AWARD FROM MAHARASHTRA STATE ELECTRICITY DISTRIBUTION CO. LIMITED

• ADANI POWER LTD - RECEIVES LOA FROM MSEDCL FOR 2500 MW RE RTC POWER SUPPLY FOR 25 YEARS

Source text: ID:nBSE5rkhTW

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April 1 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AAHL, BLINKIT LAUNCH INDIA’S FIRST IN-TERMINAL QUICK COMMERCE SERVICE AT MUMBAI AIRPORT- STATEMENT

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By Arpan Chaturvedi

NEW DELHI, March 31 (Reuters) - Indian billionaire Anil Agarwal is challenging fellow tycoon Gautam Adani's winning bid for a bankrupt real estate giant in the Supreme Court, intensifying the fight over a $4 billion pool of prized assets that includes the country's only Formula One track.

Agarwal's Vedanta has mounted a legal challenge over a creditor committee's decision to award the assets of Jaiprakash Associates JAIA.NS to Adani, a portfolio that includes homes, power, cement plants and the Buddh International Circuit track near New Delhi.

Vedanta has argued its $1.8 billion bid for the assets was better, but the committee, and an Indian tribunal, decided in Adani's favour by saying its $1.5 billion bid was superior because it had higher upfront payments.

Vedanta is now asking India's top court to pause the acquisition and hear its concerns, Supreme Court listing records seen by Reuters on Tuesday showed.

Vedanta and Adani did not respond to requests for comment.

A win could give a major boost to Adani's real-estate expansion, adding to its other key projects in Mumbai, which include redeveloping one of Asia's largest slums, Dharavi.

TRYING TO RESTART F1 IN INDIA

F1 races have been stalled in India for 13 years due to regulatory and taxation disputes, forcing organisers to discontinue the programme. Adani's son, Karan Adani, said at a public event last month he is "very personally engaged" to bring back F1 to India.

Vedanta's Agarwal on Sunday expressed disappointment about how the Jaiprakash Associates sale process had been handled, writing on X: "We will place the facts in the right way."

Vedanta's business interests stretch across aluminium, power and steel.

($1 = 94.0850 Indian rupees)

(Reporting by Arpan Chaturvedi; Editing by Aditya Kalra and Thomas Derpinghaus)

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Adds details throughout

March 30 (Reuters) - India's Bharti Airtel-owned BRTI.NS Nxtra Data will raise $1 billion from Alpha Wave Global, Carlyle Global, Anchorage Capital, as well as its parent, in a deal that values the data center firm at about $3.1 billion.

The deal marks the latest in a string of investments that Indian conglomerates Reliance RELI.NS and Adani ADEL.NS have announced in recent months in data infrastructure as they position the country as an emerging hub for AI development.

India has played only a limited role in the global AI boom so far because it lacks large-scale chip manufacturing, making data centers its most viable entry point into the fast-growing infrastructure market.

Private equity firm Alpha Wave will lead the fundraise with a $435 million investment, followed by Bharti Airtel's $290 million commitment. U.S. investment firm Carlyle Global CG.O, an existing investor, will pump in $240 million, while Anchorage Capital will invest $35 million.

Bharti Airtel, India's second-largest mobile carrier by users, said it will retain its controlling stake in Nxtra.

Nxtra will deploy the funds to scale its infrastructure and expand the services it offers.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Tasim Zahid)

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By Aditi Shah

NEW DELHI, March 20 (Reuters) - Tesla TSLA.O is preparing to enter India's industrial energy storage market, according to a job ad on its website, pitting it against companies controlled by Mukesh Ambani and Gautam Adani as they deepen investment in the sector as the grid shifts to cleaner power.

The new business will also mark Tesla's expansion in India beyond just electric cars, which it started selling in August.

The company already operates a Megapack business in the U.S. and other markets, supplying large-scale energy storage systems for industrial and utility users.

Tesla's new plan was revealed in a job ad on its website, which said it is looking to hire a business development lead in India to "develop and execute a comprehensive market expansion strategy for industrial energy storage solutions".

The candidate will shape its entry into India for "utility-scale energy storage", it added, without elaborating.

Reuters is first to report Tesla's plan. The company did not respond to a request for comment.

Ambani's Reliance RS.N and Adani's group ADEL.NS also have ambitious plans for India's energy storage sector.

India has set a target to reach 500 gigawatts (GW) of non-fossil fuel energy capacity by 2030 from more than 262 GW at the end of 2025. It needs devices that can store energy during off-peak hours, stabilise the grid and reduce carbon emissions.

The government is encouraging companies to invest in storage systems by providing fiscal incentives and is also working on a national roadmap to enable firms to meet the targets.

(Reporting by Aditi Shah, editing by Aditya Kalra and Louise Heavens)

(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

By Sethuraman N R

NEW DELHI, March 19 (Reuters) - India is weighing the use of an emergency clause that would force coal power plants that run on imported coal to maximise output ahead of the summer season, as the U.S.-Israeli war on Iran has hit gas supplies, three industry sources said.

The country expects peak power demand to touch 270 gigawatts during the summer, India's federal power minister Manohar Lal Khattar said at an industry event on Thursday.

The power ministry did not immediately respond to Reuters' request for comments.

India has power plants built to run on imported coal that could generate nearly 17 gigawatts, located in the coastal areas of the country.

It is expensive to generate power using imported coal compared with cheaper domestic coal. Under the emergency provision, a government‑appointed panel will set the rate at which power will be purchased from the plants, based on the cost of the imported coal.

Tata Power's TTPW.NS 4 GW imported coal-fired plant in Mundra, Gujarat, has not operated for the past six months after the government last year withdrew the emergency clause that compensates companies for generating power using expensive imported coal.

Reuters reported early this month that India will likely lean more on its coal capacity to meet peak power demand this summer as LNG supplies tighten due to the Mideast crisis.

The gas crisis and the absence of 4 GW of coal capacity from Tata Power's coal plant have led the government to explore the option to run all coal plants including the imported coal plants at maximum capacity, the sources said.

Meanwhile, India has invoked emergency provisions, reprioritising natural gas supplies to key sectors such as households and fertiliser plants, leaving gas-based power plants with fewer options.

The gas-based power plants, which are generally idle, are used when the country sees sudden surge in power demand.

The power ministry did not immediately respond to Reuters' request for comments.

(Reporting by Sethuraman NR
Editing by Alexandra Hudson)

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March 15 (Reuters) - Adani Power Ltd ADAN.NS:

• ADANI POWER - RECEIVES LOA FROM MSEDCL FOR 1,600 MW LONG-TERM POWER SUPPLY

Source text: [ID:]

Further company coverage: ADAN.NS

(([email protected];))

Feb 24 (Reuters) - Adani Power Ltd ADAN.NS:

• ADANI POWER LTD- ADANI POWER RECEIVES LOA FOR 558 MW PPA

• ADANI POWER LTD- MOXIE POWER WINS BID WITH 5.91 RUPEES PER UNIT TARIFF

Further company coverage: ADAN.NS

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Feb 12 (Reuters) - India's Adani Power ADAN.NS said on Thursday it has formed an atomic energy-focussed unit, becoming one of the first privately-held utilities to disclose publicly their interest in the newly-opened nuclear sector.

Adani Atomic Energy Ltd, will generate, transmit and distribute electric power derived from nuclear energy sources, the company said, without giving other details.

The move comes as India opens its nuclear power sector to greater private participation to meet rising electricity demand and curb carbon emissions, with the government targeting a sharp increase in capacity over the coming decades as part of its clean energy push.

So far, state-run Nuclear Power Corporation of India owns and operates the country's fleet of nuclear power plants that have a total capacity of 8.8 gigawatts.

Tata Power's TTPW.NS CEO said last week on a post-earnings call that the company was evaluating three sites for nuclear projects.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)

((mailto: [email protected]; @MukherjeeHritam;))