ADANIPORTS

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

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Feb 7 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS - GOT TAX ORDER FOR PENALTY OF 245.7 MILLION RUPEES

Source text: [ID:]

Further company coverage: APSE.NS

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Feb 4 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - HANDLES MONTHLY CARGO VOLUME OF 39.9 MMT IN JANUARY

Source text: ID:nBSE5bSMRB

Further company coverage: APSE.NS

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Rewrites throughout with share moves, details and company forecast

Jan 30 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS missed third-quarter profit estimates on Thursday, as growth in cargo volumes slackened amid a slowdown in the world's fifth-largest economy, sending its shares 6% lower in the afternoon trade.

Consolidated net profit for the country's top private port operator jumped 14% to 25.20 billion rupees ($291.1 million) for the October-December period, but fell short of analysts' average estimate of 26.08 billion rupees, as per data compiled by LSEG.

Adani Ports' stock was among the top losers on the benchmark Nifty 50 index .NSEI.

Adani Ports kept intact its fiscal 2025 cargo volumes forecast in the range of 460 million metric tons to 480 million tons, after logging a 4% volume growth to 113 million tons in the reported quarter.

India's slowing economic growth has curbed cargo volumes at port operators including Adani Ports and smaller rival JSW Infrastructure JSWN.NS, analysts at ElaraCapital said in a note earlier this month.

Adani Ports also said it now expects fiscal 2025 core profit to be in a range of 188 billion rupees to 189 billion rupees, up from its earlier forecast of 170 billion rupees to 180 billion rupees.

($1 = 86.5620 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Rashmi Aich)

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Jan 3 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS - APSEZ HANDLES 38.4 MMT OF CARGO IN DEC ’24

Source text: ID:nnAPN2INGLJ

Further company coverage: APSE.NS

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Dec 27 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - PLACES ORDER FOR 8 TUGS WORTH 4.50 BILLION RUPEES

• ADANI PORTS - PROCUREMENT OF EIGHT STATE-OF-THE-ART HARBOUR TUGS

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - ORDER TO INCREASE ADANI'S FLEET TO 152 TUGS

• ADANI PORTS - PLACES ORDER FOR 8 TUGS WITH COCHIN SHIPYARD

Source text: ID:nNSE5z9WXy

Further company coverage: APSE.NS

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COLOMBO, Dec 18 (Reuters) - Sri Lanka is unconcerned about the Adani Group's dealings with other countries and only focused on its $1 billion worth of projects in the island nation, President Anura Kumara Dissanyake told Indian media during an official visit to Delhi this week.

Dissanayake was on his first state trip to Sri Lanka's powerful neighbour after winning the presidency in September and securing a landslide parliamentary election victory last month.

Sri Lanka is "concerned about our investments, our development," he told The Economic Times in an interview published on Wednesday.

"We will be looking at how they have worked in our country. If they have worked in a manner that suits us, fits our initiatives, we don't mind working with Adani Group."

Sri Lanka decided to review two projects worth about $1 billion linked to the Adani Group after U.S. authorities last month accused Adani Group Chairman Gautam Adani and seven others of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

India's Adani Green Energy Ltd. ADNA.NS has plans to invest $442 million in two wind power stations in Sri Lanka and Adani Ports APSE.NS. will also fund a $553 million terminal project at the Colombo port.

Dissanayake will be visiting China, the island's biggest bilateral creditor, in January, The Hindu reported.

India extended more than $4 billion in aid to Sri Lanka when the island nation's economy plunged into a severe financial crisis in 2022 and entered into a preliminary debt restructuring agreement, along with other bilateral creditors Japan and China, in July.

(Reporting by Uditha Jayasinghe; Editing by Raju Gopalakrishnan)

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Adds details of joint statement from paragraph 2

NEW DELHI, Dec 16 (Reuters) - India plans to supply liquefied natural gas to Sri Lanka's power plants and will work on connecting the power grids of the two countries as well as lay a petroleum pipeline between the neighbours, Indian Prime Minister Narendra Modi said on Monday.

Modi was speaking at a joint press briefing with Sri Lankan President Anura Kumara Dissanayake in New Delhi.

Dissanayake is on his first official visit to Sri Lanka's powerful neighbour after winning the presidency in September and securing a landslide parliamentary election victory last month.

Indian state-run firm Petronet LNG PLNG.NS has signed a deal to supply liquefied natural gas to Sri Lankan engineering firm LTL Holdings' power plants in Colombo for five years through its terminal in the southern Indian city of Kochi.

Both sides also discussed a plan to connect power grids and lay a multi-product petroleum pipeline between the two countries, a joint statement from the Indian External Affairs Ministry said.

The two countries also agreed to jointly develop offshore wind power potential in the Palk Straits, an area where India's Adani Green Energy Ltd. ADNA.NS already has plans to invest $442 million in two wind power stations.

Sri Lanka is reviewing the wind power project along with a $553 million terminal project at the Colombo port also linked to Adani Ports APSE.NS. But it was unclear if the projects were discussed during the meeting between Modi and Dissanayake.

Last month, U.S. authorities accused Adani Group Chairman Gautam Adani and seven others of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

India extended more than $4 billion in aid to Sri Lanka when the island nation's economy plunged into a severe financial crisis in 2022 and entered into a preliminary debt restructuring agreement, along with other bilateral creditors Japan and China, in July.

The two countries will now finalise discussions on the bilateral memorandum of understanding needed to complete the debt restructuring process, the joint statement added.

(Reporting by Shanima A in Mumbai and Shivam Patel in New Delhi; Editing by YP Rajesh)

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Adds details, background from paragraph 3 onwards

Dec 10 (Reuters) - India's Adani Ports and Special Economic Zone Ltd APSE.NS said on Tuesday it would finance its Colombo port terminal project through internal accruals and a capital management plan, withdrawing its request for funding from the U.S. International Development Finance Corp (DFC).

DFC last year said it would provide $553 million in financing for the port terminal project, which is partly owned by the Adani Group.

The company, however, said the Colombo West International Terminal project is progressing well and is on track for commissioning by early 2025.

DFC did not immediately respond to a Reuters request for comment.

Ports-to-edible oils Adani Group, controlled by Indian billionaire Gautam Adani, holds a 51% stake in the west container terminal of the port, which also has a terminal run by China Merchants Port Holdings Co Ltd 0144.HK.

Sri Lankan conglomerate John Keells Holdings owns 34% of the terminal and the rest is held by the state-run Sri Lanka Ports Authority.

Last month, U.S. authorities accused Adani Group Chairman Gautam Adani and seven others of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

(Reporting by Nilutpal Timsina in Bengaluru; Editing by Alan Barona)

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Dec 9 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI PORTS MD KARAN ADANI: ADANI GROUP PLANS TO INVEST 7.5 TRLN RUPEES ACROSS SECTORS IN RAJASTHAN

• ADANI PORTS MD KARAN ADANI: OVER 50% OF 7.5 TRLN RUPEES WILL BE INVESTED IN RAJASTHAN OVER NEXT 5 YRS

• ADANI PORTS MD KARAN ADANI: TO BUILD GREEN ENERGY ECOSYSTEM INVOLVING 100 GW OF CLEAN ENERGY IN RAJASTHAN

• ADANI PORTS MD KARAN ADANI: TO SET UP 4 NEW CEMENT PLANTS IN RAJASTHAN

Source text: [ID:]

Further company coverage: ADEL.NS

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Adds details, background

Dec 3 (Reuters) - Several entities linked to the Adani Group have approached the India markets regulator seeking to settle a case that accuses them of violating public shareholding regulations at some listed companies, the Economic Times reported on Tuesday.

The Securities and Exchange Board Of India (SEBI) had sent notices to Adani Enterprises ADEL.NS, the group's flagship company, as well as Adani Power ADAN.NS, Adani Ports APSE.NS and Adani Energy ADAI.NS alleging they had wrongfully categorised the shareholding of certain entities.

The groups' breaches of a minimum public shareholding requirement date back to 2020 and the SEBI had sought to recover about 25 billion rupees ($295 million) from the entities, ET said.

Adani Enterprises and one of its directors, Vinay Prakash, as well as an Ambuja Cements ABUJ.NS director, Ameet Desai, have proposed a settlement, ET reported.

Another proposal for a 2.8-million-rupees ($33,035) settlement is from Emerging India Focus Funds (EIFF), a Mauritius-based foreign portfolio investor that the SEBI says is linked to Vinod Adani, brother of Adani Group Chairman Gautam Adani, ET said.

The report did not have information regarding other settlement applications.

The proposals were submitted last week in response to a show-cause notice issued by the SEBI on Sept. 27 to about 30 Adani Group entities, the newspaper reported.

The entities have contested the charges in response to the notice and the settlement application is only a precautionary measure, ET added, citing a source.

The Adani Group did not immediately respond to a Reuters request for comment.

Last month, U.S. authorities accused Gautam Adani and some top executives in the Adani Group of being part of a scheme to pay bribes of $265 million to secure Indian power supply contracts and of misleading U.S. investors during fund raises there, charges the group has called "baseless".

($1 = 84.7580 Indian rupees)

(Reporting by Anuran Sadhu and Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

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NEW DELHI, Dec 2 (Reuters) - Both houses of Indian parliament were suspended on Monday after disruptions by opposition groups demanding a discussion on bribery allegations against the Adani Group and communal tensions in a northern town.

Parliament was similarly adjourned for all of last week as opposition parties, led by the main opposition Congress, demanded a discussion on the indictment of Adani chair Gautam Adani by U.S. authorities.

(Reporting by Sakshi Dayal; Editing by YP Rajesh)

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NEW DELHI, Nov 29 (Reuters) - The lower house of India's parliament was suspended temporarily on Friday for a fourth day in a row this week following disruptions as opposition lawmakers sought a discussion on the allegations against Adani Group.

U.S. authorities last week accused Group Chairman Gautam Adani and seven others from the company of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

(Reporting by Sakshi Dayal; Editing by Kim Coghill)

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Adds quotes, background

NEW DELHI, Nov 28 (Reuters) - Both houses of Indian parliament were suspended temporarily on Thursday within minutes of opening as opposition lawmakers disrupted proceedings for the third day this week seeking a discussion on allegations against the Adani Group.

U.S. authorities have accused Gautam Adani, his nephew Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes of $265 million to secure Indian solar power supply contracts, and misleading U.S. investors during fund raises there.

"We want a discussion on this in parliament. It is going to be the third day that we are demanding a reply from the prime minister" on the Adani issue, Manickam Tagore, a lawmaker from the main opposition Congress party, which has been leading the protests against the business group, told news agency ANI.

Many of India's opposition parties accuse Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) of favouring Adani and blocking investigations against him in India, accusations both have denied.

Congress leader Rahul Gandhi, who has been a vocal critic of Adani, said Gautam Adani, 62, should be arrested.

While the government has not made any comment on the indictment, Modi's BJP has said it had no reason to defend Adani, adding that the party was not against industrialists and considered them partners in nation-building efforts.

"Let him defend himself," BJP spokesperson Gopal Krishna Agarwal said on Tuesday, adding that the law would take its course.

(Reporting by Shilpa Jamkhandikar; Editing by YP Rajesh)

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Corrects paragraph 4 of Nov. 21 explainer to remove language suggesting that Gautam Adani faces a criminal charge of foreign bribery, independent of the three criminal charges he faces. Corrects paragraph 20 to remove and replace language describing the three charges and potential penalties.

By Jack Queen

Nov 21 (Reuters) - Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, could face a long road to trial in the U.S. on criminal charges over his alleged role in a multi-billion-dollar fraud and bribery scheme.

Here’s a look at what’s next for Adani, who is accused of conspiring to pay about $265 million in bribes to Indian government officials to obtain contracts and develop India's largest solar power plant project.

WHAT IS HE CHARGED WITH?

The indictment alleges Adani and his co-defendants agreed to pay more than $250 million in bribes to Indian officials to obtain solar contracts worth an estimated $2 billion over 20 years.

Adani is charged with securities fraud, securities fraud conspiracy and wire fraud conspiracy.

U.S. law allows prosecutors to charge executives with foreign bribery when their companies do business in the U.S. and also gives broad jurisdiction over transactions that pass through U.S. financial institutions.

Prosecutors also allege Adani deceived U.S. investors by covering up the alleged bribes.

HAS ADANI BEEN ARRESTED?

No. If Adani is in India, U.S. prosecutors would need to ask the Indian government to extradite him under the terms of the two countries’ extradition treaty.

That process would be handled by a court in India, which would need to consider several factors including whether the crime he was charged with in the U.S. is also a crime in India, whether the charges are politically motivated or whether he could face inhumane treatment in the U.S.

Adani could fight extradition, and it is unclear how long the process might take. The billionaire is accused of bribing Indian government officials, which could make extradition more politically fraught.

HAS ADANI ENTERED A PLEA YET?

No. Adani has not been arrested and his whereabouts are unknown, though he is believed to be in India. He could not immediately be reached for comment.

In a statement Thursday, Adani Group said the charges were "baseless" and that the company is a "law-abiding organization, fully compliant with all laws."

CAN ADANI DISPUTE THE CHARGES IN COURT?

Yes, but until he appears in U.S. court, Adani's lawyers could only challenge the indictment on procedural grounds, for example by claiming U.S. prosecutors do not have the authority to charge him.

After Adani appears before a U.S. judge, his lawyers could attack the substance of the indictment by arguing the charges are legally deficient or unsupported by the facts.

Defendants generally face an uphill battle getting criminal charges thrown out because prosecutors enjoy the benefit of the doubt in the early stages of a case, and judges are reluctant to dismiss cases before juries have a chance to weigh the facts.

Prosecutors cite extensive evidence of the alleged crimes in the indictment, including in-person meetings with Indian officials and an extensive paper trail of cell phone and messaging app records.

Adani could also strike a plea deal with prosecutors by agreeing to admit to certain crimes in exchange for a lighter sentence, though prosecutors are under no obligation to negotiate. Any deal would also need to be approved by a judge.

WHEN COULD A TRIAL FOR ADANI HAPPEN?

A trial could still be a long way off even if Adani is extradited or surrenders in the U.S.

Adani’s lawyers would be entitled to litigate the admissibility of evidence and other legal questions before a trial could begin, as would lawyers for his seven co-defendants, who could seek separate trials.

Adani would be entitled to a speedy trial within 70 days under U.S. law, though he would likely waive that right to give his lawyers more time to fight the charges.

WHAT PENALTIES COULD ADANI FACE?

Adani could face decades in prison if convicted, but would probably receive far less time. He could also face monetary penalties. Any sentence would ultimately be up to the judge overseeing the case.

A jury of 12 would need to unanimously vote to convict Adani, and he could appeal a verdict against him.

(Reporting by Jack Queen in New York; Additional reporting by Luc Cohen;
Editing by Noeleen Walder)

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Adds share price, Adani investor memo; paragraphs 4, 13-20

By Scott Murdoch and Tom Westbrook

Nov 26 (Reuters) - Ratings agency Fitch has put some Adani Group bonds on watch for a possible downgrade after U.S. authorities indicted some key executives of the Indian conglomerate on bribery charges.

Adani Energy Solutions Ltd ADAI.NS, Adani Electricity Mumbai and some of Adani Ports and Special Economic Zone APSE.NS rupee and dollar bonds are now on "watch negative", Fitch said in a statement.

Ratings on four Adani subsidiary senior unsecured dollar bonds were downgraded from stable to negative, the agency said.

Adani stocks opened further down on Tuesday. Of 10 listed companies that have lost about $33 billion in market value since the indictment, Adani Green ADNA.NS has been the hardest hit, losing about $9.7 billion. The stock was down 7.5% on Tuesday.

A ratings watch negative signals a heightened probability of a rating downgrade that could affect the pricing of hundreds of millions of dollars worth of Adani's debt.

Fitch will monitor the U.S. investigation for any impact on Adani's financial position, it added in Tuesday's statement.

Specifically, it would watch for "any material deterioration in near- to medium-term funding access, including their ability to roll over existing credit lines or access new facilities, as well as potentially higher credit spreads," it said.

Rating agency S&P Global put Adani PortsAPSE.NS, Adani Green Energy ADNA.NS and Adani Electricity on a downgrade warning due to the U.S. indictments.

On Monday French oil major TotalEnergies TTEF.PA said it would halt financial contributions to its Adani Group investments following last week's indictment.

U.S. prosecutors have charged billionaire Gautam Adani, the group's founder, his nephew Sagar Adani and six others for their alleged roles in a $265-million scheme to bribe Indian officials to secure power supply deals.

The Adani Group has dismissed as "baseless and denied" the accusations, along with those made by the U.S. Securities and Exchange Commission in a parallel civil case, adding it would "seek all possible legal recourse".

U.S. authorities said the bribes were paid to win contracts expected to yield $2 billion of profit over 20 years and develop India's largest solar power plant.

In a memo to clients, major Adani backer GQG Partners GQG.AX sought to ease concerns about its exposure to Adani.

Except for Adani Green Energy Limited (AGEL), the Adani Group does not need to raise more capital at this point, GQG said in the memo, seen by Reuters.

The Australia-listed investment firm said it did not see the indictment having a material impact on Adani's businesses.

But it warned that if Adani did need additional financing, the matter would restrict its ability to access foreign capital.

Any negative actions by the Indian government could have meaningful implication for Adani, it added, though saying the Indian government would maintain support for Gautam Adani.

GQG picked shares worth $1.87 billion in four Adani group companies last year, shortly after a short-seller's critical report sparked a stock rout.

GQG has a stake of nearly 20% across Adani Group companies, accounting for about 6.1% of its total assets of $158.6 billion. As of Thursday GQG’s total exposure fell to 5.2% of total assets.

GQG did not reply to a request for comment.

Adani dollar bonds steadied on Tuesday and prices rose slightly after three days of heavy falls.

Prices on some of the more liquid Adani Ports and Special Economic Zone APSE.NS debt maturing between 2027 USY00130VS35=TE and 2041 US00652MAJ18=TE were up between half a cent and 1.5 cents on the dollar. They have fallen about 8 cents to 12 cents since news of the indictment.

Leading ESG ratings provider Morningstar Sustainalytics said it would review Adani Green Energy’s ESG risks.

"No business, green or brown, can represent a good investment opportunity without robust governance policies and practices," Hortense Bioy, its head of sustainable investing research, said in an email.

This week, Japan's SBI Asset Management published the extent of exposure to Adani Group entities of four of the funds it manages.

Its SBI/UTI India Infrastructure Equity Fund had the highest exposure at 2.55%, while that of the other three ranged from 2.08% to 0.21%, SBI said in a statement.

(Reporting by Scott Murdoch, Praveen Menon in Sydney and Tom Westbrook in Singapore; Additional reporting by Chris Thomas and Angela Christy in Bengaluru, Isla Binnie and Anton Bridge; Editing by Clarence Fernandez)

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Adds detail on bank exposure and comments from MAS, Adani debt levels, analyst, updates stock prices; paragraphs 6-14

By Tom Westbrook and Yantoultra Ngui

SINGAPORE/SYDNEY, Nov 25 (Reuters) - Adani dollar bond prices fell on Monday to almost one-year lows, as investors cut their exposure to the Indian conglomerate and some bankers considered pausing fresh lending in the wake of bribery and fraud accusations by U.S. authorities

The group's billionaire chairman, Gautam Adani, and seven other people were last week charged with agreeing to pay around $265 million in bribes to Indian government officials.

The charges related to alleged payments to obtain contracts that could yield $2 billion of profit over 20 years as well as to develop India's largest solar power project.

The charges also included making misleading statements to the public despite being made aware of the U.S. investigation in 2023.

The Adani Group has said the accusations as well as those levelled by the U.S. Securities and Exchange Commission in a parallel civil case are baseless and that it will seek "all possible legal recourse".

Banks and regulators have been reviewing exposure to the ports-to-power conglomerate in the wake of the charges.

The Singapore banking sector's overall exposure to the Adani Group, is small, the Monetary Authority of Singapore said on Monday.

"Banks have in place measures to review and manage their exposures to borrowers and counterparties," an MAS spokesperson said in a statement.

DBS Group DBSM.SI, Singapore's biggest bank by assets, had said in early 2023 that its exposure to the Adani Group was S$1.3 billion ($967 million). DBS declined comment in response to request from Reuters.

Some global banks are considering temporarily halting fresh credit to the company after the U.S. indictment but maintaining existing loans, according to several bankers spoken to by Reuters, raising questions about its access to future funding.

"In the near term, the U.S indictment is likely to constrain the group’s access to financing, particularly in the offshore market," a Lucror Analytics note published on Smartkarma said.

Cash balances of Adani portfolio companies stood at $6.33 billion as of first half of the current fiscal year ending March 2025, the company said.

The cash balances exceed long term debt repayments for next 28 months, Adani said in a presentation on the credit and financial performance of its group companies, which it regularly shares after its quarterly results.

The crisis is the second in two years to hit the Adani group, which was last year accused by short seller Hindenburg Research of improperly using offshore tax havens. The company denied those claims.

In Asian trade on Monday, some of the most liquid debts, issued by Adani Ports and Special Economic Zone APSE.NS fell between 1 cent and 2 cents, with similar selling in Adani Transmission debt.

Ports bonds maturing in 2027 USY00130VS35=TE were down 1.6 cent to 88.98 cents on the dollar, having lost nearly 7 cents in face value since U.S. prosecutors issued the charges last week.

Longer-dated Ports bonds USY00130YV37=TE, US00652MAJ18=TE were down on Monday and have lost between 8 cents and 10 cents in face value on the news.

Adani Transmission US00652XAB47=TE debt maturing in May 2036 fell 1.8 cent on Monday for a loss of more than 7 cents since Wednesday.

Adani group's 10 listed stocks led by Adani Enterprises ADEL.NS lost $27.9 billion in market value over two sessions last week after the U.S. charges.

The stocks regained some lost ground on Monday, as Adani Energy Solutions ADAI.NS rose 6%, while Adani Green Energy ADNA.NS rose 4% in early trade.

(Reporting by Tom Westbrook and Yantoultra Ngui in Singapore; additional reporting Sethuraman NR. Writing by Scott Murdoch in Sydney; Editing by Jacqueline Wong and Lincoln Feast.)

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Recasts with sourcing from U.S. agency; adds comment from agency

Nov 24 (Reuters) - A U.S. agency said on Sunday that it is reviewing the impact of Department of Justice bribery allegations against the founder of India's Adani Group on the agency's prior agreement to lend more than $550 million to a Sri Lankan port development backed by the group.

The U.S. International Development Finance Corp last November said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by the Adani Group.

Federal prosecutors in New York on Wednesday announced that Gautam Adani, the billionaire founder of the Adani Group, and seven other individuals had been indicted on charges of paying about $265 billion in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

"DFC is aware of the recent allegations related to Adani and is actively assessing the ramifications in light of the recent DOJ announcement," an official with the development agency said in a statement.

"We are committed to ensuring that our projects and partners uphold the highest standards of integrity and compliance," the official said.

The agency said that no funds have yet been disbursed under the loan commitment.

Bloomberg News first reported the news on the DFC on Sunday.

The Adani Group did not immediately respond to requests for comment outside regular business hours on Sunday.

The Adani Group has said the Justice Department accusations as well as those leveled by the U.S. Securities and Exchange Commission in a parallel civil case are "baseless and denied" and said it will seek "all possible legal recourse."

(Reporting by Gursimran Kaur and Disha Mishra in Bengaluru; Editing by Paul Simao and Leslie Adler)

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Nov 22 (Reuters) - S&P Global Ratings lowered its outlook on three Adani Group entities to negative from stable on Friday, citing risks to funding access following a U.S. indictment of the conglomerate's billionaire founder, Gautam Adani, on bribery charges.

Adani and seven other people, including his nephew Sagar, were indicted on Thursday for fraud by U.S. prosecutors for their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals.

Adani Group has said the accusations levelled by U.S. federal prosecutors, as well as those by the U.S. Securities and Exchange Commission in a parallel civil case, are "baseless and denied" and that it will seek "all possible legal recourse."

The U.S. indictment could affect investor confidence in other Adani Group entities, as the founder sits on the boards of other companies within the group, potentially impairing their access to funding and increasing their funding costs, S&P said in a note.

"The group will need regular access to both equity and debt markets given its large growth plans, in addition to its regular refinancing. We believe domestic, as well as some international banks and bond market investors, look at Adani entities as a group, and could set group limits on their exposure," S&P said.

Bonds and most stocks of the Adani Group dropped for a second session on Friday after the indictment.

(Reporting by Manvi Pant in Bengaluru; Editing by Abinaya Vijayaraghavan)

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Updates with statement from Azure Power in paragraphs 10-11

By Kashish Tandon and Hritam Mukherjee

Nov 21 (Reuters) - U.S. prosecutors have charged Indian billionaire Gautam Adani, founder of a conglomerate named after him, and seven others in an alleged bribery and fraud scheme related to a renewable energy project in India.

The authorities said Adani and the other defendants agreed to pay about $265 million in bribes to Indian officials to obtain contracts. The Adani Group denied the charges as baseless and that it would seek "all possible legal recourse".

Here are key details of the people charged by the U.S. authorities:

** Gautam Adani, 62, is Asia's wealthiest person after countryman Mukesh Ambani with a net worth of $57.8 billion, according to Forbes. He set up the Adani Group in 1988, beginning with commodities trading.

He and his nephew Sagar are accused of orchestrating the scheme to secure a solar energy project in India and misleading the company's investors during a $750 million bond offering, which raised about $175 million from U.S. investors.

** Sagar Adani is credited with building the solar and wind portfolio of Adani Green Energy ADNA.NS and currently oversees its "organization building as well as all strategic and financial matters", according to its website. He is an executive director of Adani Green.

** Vneet Jaain has been the managing director of Adani Green Energy since 2020. Before that, he headed other Adani group firms such as Adani Power ADAN.NS and Adani Infrastructure, according to his LinkedIn profile.

** Ranjit Gupta, between 2019 and 2022, was the chief executive officer of energy firm Azure Power Global, whose stock was traded on the New York Stock Exchange until November 2023.

U.S. authorities allege that Gupta conspired with Gautam Adani, Sagar Adani and Vneet Jaain to pay bribes to Indian government officials for Adani Green and Azure Power to secure a solar energy project in India.

Azure Power told Reuters in an emailed statement that it was "aware of the actions" announced by the U.S. Department of Justice and the Securities & Exchange Commission against its former employees.

"We have been cooperating with those agencies in relation to those and other matters and we will continue to do so," the firm said.

Gupta, currently CEO of energy firm Ocior Energy, did not immediately respond to a request for comment. Ocior Energy did not immediately respond to a separate Reuters request for comment.

** Cyril Cabanes, who U.S. court documents said was a citizen of Australia and France who resided in Singapore, was the managing director of infrastructure overseeing Asia Pacific and Middle East regions at Caisse de dépôt et placement du Québec (CDPQ), a Canadian investment firm, between 2016 and 2023.

The indictment document said that an unnamed unit of CDPQ is the top stakeholder of Azure Power.

Cabanes, his then-CDPQ colleagues Saurabh Agarwal and Deepak Malhotra, and Rupesh Agarwal are accused of joining the conspiracy between 2021 and 2022.

Cabanes did not immediately respond to Reuters' request for comment.

** Saurabh Agarwal worked with a company associated CDPQ from May 2017 until July 2023, when he reported to Cabanes.

CDPQ on Thursday said it was aware of the charges against its former employees. "Those employees were all terminated in 2023 and CDPQ is cooperating with the U.S. authorities," it said.

Reuters could not immediately reach Agarwal for comment.

** Deepak Malhotra was Director of infrastructure, South Asia, at CDPQ when he joined the board of Azure Power in 2019. He resigned from the board in 2023, along with Cabanes.

Reuters could not immediately reach Malhotra for comment.

** Rupesh Agarwal is currently a co-chair at Indian industry lobby group FICCI Renewable Energy CEO Council. From July 2022 to August 2022, the period mentioned in the indictment document, he was the Chief Strategy and Commercial Officer at Azure.

Reuters could not immediately reach Agarwal for comment.

(Reporting by Kashish Tandon, Hritam Mukherjee and Sethuraman NR in Bengaluru; Editing by Toby Chopra)

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Adds details from earnings, background

Oct 29 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS said it is "well positioned" to hit the upper end of its core profit forecast for fiscal year 2025, after its second-quarter earnings missed estimates on Tuesday.

The country's largest private port operator by volumes reiterated its fiscal year 2025 cargo volume forecast in the 460 million metric tons (MMT)-480 MMT range, after volumes rose 10% in a quarter when commercial activity showed signs of slowing.

Adani Ports, which is seen as the proxy of India's infrastructure and trade growth, had posted a 7.5% volume growth in the June quarter.

The port operating arm of the power-to-cement Adani conglomerate, along with its smaller rival JSW Infrastructure JSWN.NS, has previously benefitted from steady cargo movement to and from the country, driven by strong commercial activity and consumption growth in Asia's third-largest economy.

For the July-September period, Adani Ports' consolidated net profit climbed 40% to 24.45 billion rupees ($291 million), but still came in below analysts' average estimate of 25.98 billion rupees, according to LSEG data.

Revenue climbed 6% to 70.67 billion rupees, but fell short of the estimated 72.73 billion rupees.

Adani Ports' shares reversed course to trade 1% higher after the results, before paring some of its gains. JSW Infra jumped 9% on the day, after reporting a 46% rise in quarterly profit on Monday.

($1 = 84.0750 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sumana Nandy)

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Oct 24 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• COMPLETION OF ACQUISITION OF 80% STAKE IN ASTRO OFFSHORE GROUP

Source text for Eikon: [ID:]

Further company coverage: APSE.NS

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Sept 20 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS - RORIX HOLDINGS AND ADANIPORTS SIGN MEMORANDUM OF UNDERSTANDING

• ADANI PORTS - RORIX HOLDINGS AND ADANI PORTS SIGN MEMORANDUM OF UNDERSTANDING

• ADANI PORTS - PARTNERSHIP TO INTEGRATE ADVANCED TECH INTO LOGISTICS, TRADING PLATFORMS

Source text for Eikon: [ID:]

Further company coverage: APSE.NS

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Sept 10 (Reuters) - ABU DHABI MEDIA OFFICE::

• INTERNATIONAL RESOURCES HOLDING AND OIL INDIA SIGN STRATEGIC PARTNERSHIP AGREEMENT TO COLLABORATE ON OPPORTUNITIES IN MINING SECTOR - STATEMENT

• GLOBAL JET TECHNIC SIGNS AGREEMENTS WITH INTERGLOBE AVIATION SERVICES, AIR INDIA AND AKASA AIR - STATEMENT

• AD PORTS GROUP AND GOVERNMENT OF INDIA COLLABORATE ON DEVELOPMENT OF VIRTUAL TRADE CORRIDOR BETWEEN UAE AND INDIA- STATEMENT

• GLOBAL JET TECHNIC AGREEMENTS WITH INDIAN AIRLINES TO PROVIDE AIRCRAFT LINE MAINTENANCE SERVICES IN UAE - STATEMENT

• RORIX HOLDINGS SIGNS AGREEMENT WITH ADANI PORTS AND SEZ TO INTEGRATE ADVANCED TECHNOLOGIES INTO INDIA’S INFRASTRUCTURE- STATEMENT

• RORIX HOLDINGS PARTNERS WITH INDIAN BULLION AND JEWELLERS ASSOCIATION TO FACILITATE TRADING OF PRECIOUS METALS- STATEMENT

• LULU GROUP PARTNERED WITH GOVERNMENT. OF INDIA’S APEDA TO SOURCE AND IMPORT INDIAN ORGANIC PRODUCE IN UAE- STATEMENT

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Aug 30 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• APSEZ ACQUIRES 80% STAKE IN GLOBAL OSV OPERATOR ASTRO OFFSHORE FOR USD 185 MN

• EXISTING PROMOTERS OF ASTRO WILL HOLD THE REMAINING 20% STAKE

• NO REGULATORY APPROVALS REQUIRED, DEAL EXPECTED TO CLOSE WITHIN A MONTH

• ASTRO TO ADD 26 OFFSHORE SUPPORT VESSELS TO CO'S CURRENT FLEET OF 142 TUGS, DREDGERS

Source text for Eikon: ID:nBSE6sTMRY

Further company coverage: APSE.NS

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BENGALURU, Aug 12 (Reuters) - Shares of Adani Group companies fell on Monday after U.S. short-seller Hindenburg Research alleged the head of India's market regulator previously held investments in offshore funds also used by the group.

Billionaire Gautam Adani's flagship company Adani Enterprises ADEL.NS fell nearly 5%, while Adani Ports APSE.NS, Adani Total Gas ADAG.NS, Adani Green ADNA.NS, Adani Power ADAN.NS, Adani Wilmar ADAW.NS and Adani Energy Solutions ADAI.NS fell between 3% and 8%.

Citing whistleblower documents, Hindenburg said on Saturday that Securities and Exchange Board of India (SEBI) Chair Madhabi Puri Buch and her husband held stakes in an offshore fund where a substantial amount of money was invested by associates of Vinod Adani, brother of Gautam Adani.

A personal statement from Buch on Sunday said all disclosure requirements had been followed diligently and that investments in the fund referred to in the Hindenburg report were made in 2015 in a private capacity, two years before she joined the SEBI.

Adani Group on Sunday rejected the allegations and said its overseas holding structure was fully transparent.

"Under Buch, the market regulator has taken a lot of measures to protect retail investor sentiment. But allegations that came over the weekend have shaken market confidence, which can have an impact on retail investor sentiment," said Anita Gandhi, founder and head of institutional business at Arihant Capital Markets.

In January 2023 Hindenburg released a report alleging improper use of tax havens and stock manipulation by Adani Group, which led to a stock rout. Adani Group has denied all of the allegations and shares have partially recovered. The allegations led to a SEBI inquiry, which is still underway.

(Reporting by Sethuraman NR and Hritam Mukherjee in Bengaluru; Editing by Jamie Freed)

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Adds details from the Bloomberg interview in paragraphs 2-3 and 7-9, details about the Adani family in paragraphs 5-6, background in paragraph 10

Aug 5 (Reuters) - Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and shift control to his sons and their cousins in the early 2030s, he told Bloomberg News in an interview published on Monday.

When Adani retires, his four heirs - sons Karan and Jeet, and their cousins Pranav and Sagar - will become equal beneficiaries of the family trust, according to the scions, the report said.

A confidential agreement will dictate the transition of stakes in the conglomerate's firms to the heirs, the Bloomberg report said, citing people familiar with the matter.

Adani Group did not immediately respond to a Reuters request for comment.

Gautam Adani's elder son Karan Adani is the managing director of Adani Ports APSE.NS, while his younger son Jeet Adani is the director of Adani Airports, according to the Adani Group website.

Pranav Adani is the director of Adani Enterprises and Sagar Adani is the executive director of Adani Green Energy ADNA.NS, the website shows.

Pranav and Karan are the most obvious candidates to eventually take over as chairman, the Bloomberg report said.

"Succession is very, very important for the business sustainability. I left the choice to the second generation as the transition must be organic, gradual and very systematic," Gautam Adani said.

When Adani does step back, the joint decision-making will continue even in the event of a crisis or a major strategic call, the Adani children told Bloomberg in separate interviews.

The report comes at a time when Adani Enterprises ADEL.NS, the flagship firm of the Adani Group, saw its first quarter profit more than double, as the conglomerate expanded its new energy business through more investments in renewable energy.

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)

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BENGALURU, Aug 1 (Reuters) - Adani Ports and Special Economic Zone APSE.NS reported a higher first-quarter profit on Thursday, helped by a jump in cargo volumes due to strong commercial activity.

India's largest private port operator by volumes said its consolidated net profit rose to 31.13 billion rupees (nearly $372 million) in the quarter ended June, from 21.15 billion rupees a year earlier.

($1 = 83.7155 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Subhranshu Sahu)

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BENGALURU, July 18 (Reuters) - JSW Infrastructure JSWN.NS, India's second-largest private port operator in terms of cargo handled, reported a nearly 9% fall in first-quarter profit on Thursday, hurt by higher expenses.

Its consolidated net profit fell to 2.92 billion rupees (about $35 million) in the quarter ended June 30 from 3.21 billion rupees in the year-ago period.

Port operators, including JSW Infra's larger rival Adani Ports APSE.NS, have been benefiting from cargo movement across their ports with improved commercial activity in the country.

JSW Infrastructure, part of steel-to-power conglomerate JSW Group, said its cargo volume grew 9% year-on-year to 27.8 million tons, which helped revenue from operations rise 15%.

However, its total expenses jumped 41%, with operational expenses rising 23% year-on-year and eating into its profit.

JSW Infrastructure currently operates 10 ports along the country's coastline.

In June, the company acquired a majority stake in Navkar Corporation NAVR.NS through its unit JSW Port Logistics, entering the logistics sector.

JSW Infrastructure's shares closed 1.3% lower on Thursday, ahead of the results.

($1 = 83.6316 Indian rupees)

(Reporting by Anisha Ajith in Bengaluru; Editing by Janane Venkatraman )

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Changes source and rewrites throughout from company statement

July 12 (Reuters) - Adani Ports APSE.NS expects to complete the first of four phases of a key transshipment container port in southern India this year, it said on Friday, firming the timeline for a project already delayed by six years due to protests by locals.

The Vizhinjam deep-sea port at the southern tip of the country is of strategic importance due to its proximity to international shipping routes and will help India rival Dubai, Singapore and Sri Lanka.

Adani Ports, a part of billionaire Gautam Adani's ports-to-power conglomerate, aimed to start operations at the port in the state of Kerala in 2018 but faced delays due to land acquisition issues as locals protested the port led to coastal erosion, which even led to clashes with the police in 2022.

With those issues sorted, the first phase of the Vizhinjam port will be completed by December and the port will be fully ready by 2028-29, said Karan Adani, the company's managing director and son of Gautam Adani.

The MD reaffirmed a total investment of 200 billion rupees ($2.39 billion) in the port by the company and the Kerala state.

Adani Ports will invest 100 billion rupees ($1.2 billion) in the second phase of the project, Bloomberg News reported earlier in the day. The company did not respond to a Reuters' request for comment on the specific investment.

The port, which takes the company's total count to 13 ports and terminals in the country, received its first large cargo ship from Maersk on Friday.

Adani Ports will start work on the remaining phases as early as October once environmental clearance and other regulatory approvals are in place, Karan Adani said.

(Reporting by Sethuraman NR, Meenakshi Maidas and Urvi Dugar in Bengaluru; Editing by Muralikumar Anantharaman and Savio D'Souza)

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