Adani new ipo 2023

Kison Patel is the Founder and CEO of DealRoom, a Chicago-based diligence management software that uses Agile principles to innovate and modernize the finance industry. As a former M&A advisor with over a decade of experience, Kison developed DealRoom after seeing first hand a number of deep-seated, industry-wide structural issues and inefficiencies. This has been a year to forget for IPOs. By the beginning of November, there had only been 66 IPOs in the United States in 2022 - down nearly 90% on the same time period in 2021. This dearth of new companies, particularly in the tech space, reflects a year in which tech stocks were battered. Even the so-called FANGs no longer look as reliable as they did just a year ago. From January to November, Facebook lost three-quarters of its value, as investors expressed their concern about CEO Mark Zuckerberg’s costly fixation with the metaverse. His response was to lay off 11,000 employees Amazon announced in November that it was to lay off around 10,000 employees across the globe as consumers cut back on their online spending. In total, so far over 70,000 employees have lost their jobs in the tech sector. Who’d want to enter the market in those conditions? Not many. One look at the IPOs (tentatively) planned for 2023 shows many that were also supposedly planning a market listing in 2022. Events took hold. Assuming some stability arrives in the first half of 2023, many of these could still go ahead. Ultimately, venture capitalists nee...

“At least five units will be ready to go to the market in the next three to five years,” Jugeshinder Singh, Adani Group chief financial officer said in an interview. He said Adani New Industries Ltd., Adani Airport Holdings Ltd., Adani Road Transport Ltd., AdaniConnex Pvt Ltd. and the group’s metals and mining units would become independent units. Asia’s richest man, Gautam Adani, plans to sell shares to the Singh ​said businesses such as the airport operator are consumer platforms servicing nearly 300 million customers and need to operate on their own and manage their capital requirements for further growth. He said the businesses would need to show they can clear the basic tests of independent execution, operations and capital management before a formal demerger can be implemented. “Scale is already there for the five units,” Singh said. The “airport business is already independent, while Adani New Industries is going strong on the green energy side. Adani Road is demonstrating new build-operate-transfer models to the nation, while the data center business will grow further. Metals and mining would cover our aluminum, copper and mining services.” Blistering Rally Most of the tycoon’s companies have seen a blistering stock rally in the past few years, vaulting Adani up the wealth rankings past Jeff Bezos and Bill Gates to a net worth of almost $121 billion, according to the Bloomberg Billionaires Index. Flagship Adani Group has consistently aligned itself to support Prime...

Asia’s richest man, Gautam Adani, plans to sell shares to the public in at least five companies between 2026 and 2028, helping the port-to-power conglomerate improve debt ratios and broaden its investor base. “At least five units will be ready to go to the market in the next three to five years,” Jugeshinder Singh, Adani Group chief financial officer said in an interview. He said Adani New Industries Ltd., Adani Airport Holdings Ltd., Adani Road Transport Ltd., AdaniConnex Pvt Ltd. and the group’s metals and mining units would become independent units.

NEW DELHI: About four months after the US short-seller Hindenburg Research shook Indian financial markets with a bombshell report on the Adani Group, the conglomerate’s stocks are finding it hard to shake off the impact. While two of Adani’s 10 stocks have bounced back strongly, a full recovery to pre-Hindenburg levels looks a ways away. The group’s market value is still down more than US$100bil (RM460bil) since Hindenburg’s Jan 24 report, which claimed that billionaire Gautam Adani’s empire was “pulling the largest con in corporate history”. The rout had reached US$153bil (RM704bil) at one point. “Adani stocks have seen a readjustment of their valuations. The froth that existed prior to Hindenburg has gone away and won’t come back,” said Abhay Agarwal, founder and fund manager at Mumbai-based investment firm Piper Serica Advisors Ltd. “While investors are less concerned about governance issues at the group now than they were in the aftermath of the Hindenburg report, it is unlikely to erase all the losses over the next three, six or even 12 months.” Overall, the median decline in 10 Adani stocks over a period of about four months stands at 23%. That’s more than a 19% median loss over a similar stretch for shares of some other key companies targeted by Hindenburg, including Adani. The Indian group has been one of the most high-profile targets for Nathan Anderson’s company, which has had a run of often-successful bets from electric vehicle maker ...

A panel appointed by the Supreme Court in New Delhi recently stopped short of returning a finding of regulatory failure against the Securities and Exchange Board of India. But the committee’s characterization of the SEBI’s ongoing probe into the country’s largest infrastructure behemoth as “a journey without a destination” wasn’t exactly a vote of confidence, either. Those are large numbers. Specifically, the SEBI wants to verify whether the 42 investors who put capital into these 13 vehicles — 12 funds and one overseas financial firm — are mere fronts for the tycoon Gautam Adani and his family. The conglomerate had strenuously denied those allegations in New York-based short-seller Hindenburg Research’s Jan. 24 report and said that “innuendoes” that any of the public shareholders “are in any manner related parties of the promoters are incorrect.” While the Adani Group is the most high-profile case of a large stock-market fortune propped up by a less-than-transparent source of foreign funding, it isn’t the only one. How will India ever be able to chase shape-shifting capital to its ultimate owners? The SEBI’s plan, which it has released for public consultation, is ostensibly simple and rules-based. It will leave undisturbed all pension pools, as well as public funds with a diverse retail base. Foreign investors linked to a government or a central bank, such as sovereign wealth funds, will also be spared. Everyone else will be judged high-risk, and if their local portfolios...

NEW DELHI, Jan 25 (Reuters) - Marquee investors Maybank Securities and Abu Dhabi Investment Authority picked up stake in Adani Enterprises' The anchor portion of the share sale, India's largest follow-on public offering (FPO), was allocated to high-profile investors at 3,276 rupees per share, which was the top end of the price band set for the sale. A source told Reuters earlier in the day that anchor investors bid for shares worth 90 billion rupees ($1.10 billion), compared to the 60 billion rupees reserved for them. Adani Enterprises, the flagship firm of Adani Group, is looking to fund capital expenditure and pay off some debt from the proceeds of the share sale. Maybank was allocated 34.09% of the 18.2 million shares reserved for institutional investors for 20.4 billion rupees, while ADIA got 2.56% worth 1.53 billion rupees. Local insurance behemoth Life Insurance Corp of India Adani Group did not immediately respond to a Reuters request for comment. Bidding for retail investors will start on Friday and close on Jan. 31. Adani Enterprises had last week set the floor price for the FPO at 3,112 rupees per share, with a price cap of 3,276 rupees. The demand from anchor investors comes despite Hindenburg Research The group led by Gautam Adani, the world's third richest person according to Forbes, dismissed the claims of the U.S. short seller as baseless, saying it was timed to damage its reputation ahead of a large share offering. Shares of Adani Group companies closed bet...

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.

MUMBAI, Jan 31 (Reuters) - Gautam Adani's crucial $2.5 billion share sale was fully subscribed on Tuesday as investors pumped funds into his flagship firm, despite a $65 billion rout in the Indian billionaire's stocks sparked by a short-seller's report. The fundraising is critical for Hindenburg Research's report last week alleged improper use of offshore tax havens and concerns about high debt, which Adani denied, but the subsequent market meltdown has led to a dramatic and sudden fall in his fortunes as he slipped to eighth from third in Forbes rich list rankings. The 30% anchor portion of India's largest ever secondary share sale attracted investors including Maybank Securities and Abu Dhabi Investment Authority, as well as India's HDFC Life Insurance and state-backed Life Insurance Corporation The list of investors who participated in the book building, which had gathered only 3% in bids on Monday amid concerns over the rout in Adani's stocks, is not yet public. By Tuesday, the overall share sale was fully subscribed as foreign institutional investors and corporate funds flooded in, although participation by retail investors and Adani Enterprises "The purpose of the FPO (follow-on public offering) was two fold – to raise funds to reduce the debt and to broadbase the shareholding ... they haven't been able to broadbase the shareholding," Ambareesh Baliga, a Mumbai-based independent market analyst, said. The offer closes days after Adani's public face-off with Hindenburg...

Revealing the company’s IPO plan, Adani Group's Chief Financial Officer, Jugeshinder Singh, stated that five of its subsidiaries will make market debuts between 2026 and 2028. Here is the list. #1 Adani New Industries Adani New Industries is a utility company formed by Adani enterprise in January 2022. The company undertakes green hydrogen projects, manufacturing wind turbines and solar module batteries, among other components. In November 2021, Adani Group announced that the conglomerate plans to invest US$ 70 bn in the new energy segment during the next ten years. The formation of the company was a move in that direction. The proceeds from the issue of Adani New Industries IPO would be used to fund this renewable energy project and repay the debt taken for the same. In the upcoming years, the company aims to become the largest renewable energy company in the world by producing the cheapest hydrogen. The company is also looking forward to foraging into downstream products such as green ammonia and green urea. #2 Adani Airport Holdings Adani Airport Holdings is engaged in the business of developing airport infrastructure, catalyzing aviation-linked businesses, and trading commodities and goods. The company was formed two years ago with a portfolio of six brownfield airports. Last year, it acquired two more airports, Mumbai airport and the greenfield Navi Mumbai airport. The Mumbai Airport was acquired from the GVK Group. It is the second busiest airport by both passenger a...

Chairperson of Indian conglomerate Adani Group, Gautam Adani, speaks at the World Congress of Accountants in Mumbai on November 19, 2022. (Photo by INDRANIL MUKHERJEE / AFP) (Photo by INDRANIL MUKHERJEE/AFP via Getty Images) AFP via Getty Images The embattled Adani Group announced Wednesday that it was canceling its latest stock offering and refunding investors. “Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO [Follow-on Public Offering] proceeds and withdraws the completed transaction,” said Gautam Adani, the Adani Group’s chairman, in a written statement. “The Board takes this opportunity to thank all the investors for your support and commitment to our FPO.”