Adani group

June 13 (Reuters) - India's Adani Group is in talks with lenders to refinance up to $3.8 billion of a loan facility taken for its acquisition of Ambuja Cements Ltd The group is mulling whether to convert the original loan into debt with a longer maturity period and has started talking to banks individually about that plan, the report added. The conglomerate, led by billionaire Gautam Adani, expects to conclude the process within four months and most of its existing lenders, including Barclays Plc However, the report cautioned that the deal is yet to be finalised and may not go ahead. Adani Group, Deutsche Bank, Barclays and Standard Chartered declined to comment, while MUFG did not immediately respond to Reuters' request for comments. Ahmedabad, India-headquartered Adani last year acquired ACC Ltd Indian business daily The Economic Times had The Adani group's high debt levels were among the concerns that were flagged by U.S. short-seller Hindenburg in a report on Jan. 24. The short-seller also said the conglomerate improperly used tax havens, among other allegations that wiped out over $100 billion in investor wealth in the Adani group's listed entities. The group has called the report baseless and has since garnered investor support and repaid debt. Last month, a court-appointed panel

Adani Group is in talks with lenders, including global banks, as it seeks to refinance up to $3.8 billion of a loan facility taken for its acquisition of Ambuja Cements Ltd. last year, said people familiar with the matter. The ports-to-power conglomerate owned by Indian tycoon Gautam Adani is mulling whether to convert the original loan into debt with a longer maturity period and has started talking to banks individually about that plan, said the people, who asked not to be identified as the discussions are private.

• • • • • • Adani Total Gas • • • • • • Website .adani .com Footnotes/references Adani Group is an Indian At its peak, Adani was the second largest Indian conglomerate, after History Adani Exports Limited started as a commodity trading company in 1988 and expanded into importing and exporting multiple commodities. With a capital of ₹5 Adani handled 4Mt of cargo at Mundra in 2002, becoming the largest private port in India. Later in 2006, the company became the largest In 2010, Adani group with help of The Adani group became India's largest private coal mining company after Adani Enterprises won the Orissa mine rights in 2010. [ citation needed] In 2011, the Adani group also bought Adani Power emerged as India's largest private power producer in 2014. ₹5,500 crore (equivalent to ₹75billionorUS$940million in 2020). In 2015, the Adani Group's Adani Renewable Energy Park signed a pact with the Adani Aero Defence signed a pact with the Israeli arms manufacturer, ₹4,550 crore (equivalent to ₹56billionorUS$700million in 2020). On 22 December 2017, the Adani Group acquired the power arm of ₹18,800 crore (US$2.89 billion). In October 2019, ₹6,155 crore (US$874.04 million) and obtained joint control of the company. US$510 million in a subsidiary of Adani Green Energy in February 2020. In August 2020, Adani Group obtained a majority stake in In May 2021, Adani Green Energy acquired SB Energy, a joint venture of US$3.5 billion. In May 2022, the Adani Group acquired In May 2022, UAE-ba...

This week, India’s markets regulator confirmed in a Supreme Court filing that it would be investigating the allegations and studying “market activity” around the report. The continued scrutiny of Adani group has led many to wonder what will happen next. Read More: What Adani’s Downfall Tells Us About India’s Crony Capitalism What has the fallout been for the Adani Group so far? The most obvious fallout of the Hindenberg report has been a loss of confidence in Adani Group from both investors and analysts, who are now keeping an eye on how the stock prices will impact the company’s operations, cash flow, and expansion plans. This means that many of the company’s projects might need to be “heavily scaled back” due to the lack of fundraising, Tim Buckley, the director at Climate Energy Finance, As lenders feel more cautious about Adani Group, it’s uncertain whether the company will be able to continue funding its projects and acquisitions by borrowing more money, especially since it is already steeped in total debt of nearly 2 trillion rupees ($24 billion dollars) after borrowing heavily from overseas bonds, foreign and Indian banks, and the state-owned insurance firm, Life Insurance Corporation of India. So far, two big banks, Credit Suisse and Citigroup, have stopped accepting Adani bonds as collateral, according to Bloomberg. Other lenders including Barclays and Deutsche Bank asked for a margin call on a $1.1 billion share-backed loan. Elara Capital Funds, another global in...

Billionaire Gautam Adani has slipped from being the world’s third richest man to the seventh, after an activist investment firm released a Hindenburg Research, which in the past has shorted—or bet against—companies like electric truck maker Nikola Corp and Twitter, said it holds short positions in Adani companies through U.S.-traded bonds and non-Indian-traded derivative instruments. Read More: How a Historic March Could Revive India’s Opposition Movement Who is Gautam Adani? Gautam Adani is a self-made billionaire, and India’s richest man, with a net worth of roughly $118 billion as of April 2022. Much of this wealth was accumulated during the past three years through his company Adani Group, as the share prices of his key listed companies climbed, pushing the billionaire’s rank to the third-richest man in the world, behind Elon Musk and Jeff Bezos. The industrialist began as a commodity trader in the 1980s before he founded his company Adani Group in 1988, eventually expanding it into a private infrastructure empire that operates ports, airports, and coal mines across India and the world. The group also has multiple subsidiaries through its data and cable centers and the manufacturing of defense goods. It plans to expand further through a $70 billion investment in green energy businesses in the coming year. The company’s success has often been linked to lucrative government concessions, thanks to Adani’s close ties with India’s ruling Bharatiya Janata Party. In the past,...