Gautam adani

Adani Group is in discussions with lenders, including international banks, about refinancing up to USD 3.8 billion of a loan facility it took to buy Ambuja Cements last year. The ports-to-power company founded by The project is a crucial test of whether the company's access to international credit lines will be restored after US short-seller Hindenburg accused the Adani Group of widespread corporate misconduct in January. Adani has refuted the charges. The majority of the current lenders are anticipated to participate, and Adani anticipates finishing the process in three to four months, according to the people. An inquiry for comment was not immediately answered by an Adani official. If the proposal proceeds, it would be the latest indication that the conglomerate is getting back to business as usual after months of damage control following Hindenburg's scathing attack that at one point cost the company's stocks more than USD 150 billion.

MUMBAI, June 7 (Reuters) - India's ports-to-power giant Adani Group will go slower on acquisitions this year as cost of capital has risen globally, the company said, signaling reduced dealmaking at the conglomerate which has rapidly grown by acquiring assets. Adani's listed shares in India have clawed back some $50 billion in its market capital after a rout triggered by U.S. short-seller Hindenburg's report Merger and acquisition activity has Led by billionaire Gautam Adani, the group rapidly expanded in recent years, with growth also fueled by as many as 30 acquisitions it did across key sectors. This included a $10.5 billion deal to buy cement assets from Swiss giant Holcim and the takeover of Indian TV network NDTV. While the group will continue to review acquisition opportunities, the Adani spokesperson said high debt costs will weigh. "The cost of debt and capital has gone up ... This is the first time this is happening in the last five to six years. So this year you will generally see less activity on the M&A side," he said. Last week, the group’s flagship company Adani Enterprises Adani Group plans to focus on existing projects for the next nine months, and ensure funds raised are used for that purpose, the spokesperson said, without giving details. After the Hindenburg report forced Adani to The company has been meeting investors to share its plans for the business and to raise funds, telling them that banks lent $2.3 billion to the group in recent months despite a...

Shares of Adani group companies will be in focus on Wednesday morning after a Bloomberg report quoting sources suggested the conglomerate, led by billionaire Gautam Adani, is in talks with lenders to refinance up to $3.8 billion of a loan facility taken for its acquisition of Ambuja Cements last year. Last year, Adani Group acquired ACC Ltd and Ambuja Cements Ltd in a $10.5-billion deal that was financed by bridge loans. As per the Bloomberg report, 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 Adani Group's high debt levels were among the concerns that were flagged by US short-seller Hindenburg in a scathing report on January 24. Since then, the 10 listed companies of the group have lost 46 per cent of market value, which together stood at Rs 10.41 lakh crore as on Tuesday against Rs 19.20 lakh crore as on January 24. Adani Total Gas shares are down 83 per cent since while Adani Transmission shares are down 72 per cent during the same period. Adani Green Energy has also tumbled 50 per cent during the period. On the other hand, flagship Adani Enterprises, Adani Ports, Adani Wilmar and Adani Power are some of the stocks that have seen solid recovery since. The Bloomberg report suggested that the refinancing process may conclude within four months and most of its existing lenders, including Barclays Plc, Deutsche Bank AG, Standard Chartered...

About four months after 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 $100 billion 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 $153 billion at one point.

HONG KONG, Feb 1 (Reuters Breakingviews) - It helps to have friendly investors and rich families on hand when finalising a tricky Investor interest in Adani Enterprises The next immediate risk is a continuation of the rout which has wiped $65 billion off the combined value of Adani’s seven core listed enterprises. Shares in Adani Enterprises have held up relatively well, falling 14% since Hindenburg levelled accusations of fraud and stock manipulation last week, a charge the company dismisses. But anchor investors in the share offering, including the Abu Dhabi Investment Authority, can start to sell after 30 days. Other buyers including wealthy Indians will be free to dump the stock sooner. Shares in $32 billion Adani Total Gas Adani faces other All this will act as a Follow @ugalani on Twitter (The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) loading CONTEXT NEWS The $2.4 billion share sale by Adani Enterprises was fully subscribed on Jan. 31, data released by the Indian stock exchange showed. Investors bid for 1.12 times the shares on offer. Large non-institutional investors submitted bids for almost five times the shares offered or reserved to them, while employees bid for 0.55 times and individual retail investors for 0.12 times. International Holding Company, the Abu Dhabi conglomerate, said a day earlier that it would be investing 1.4 billion dirhams, over $380 million, to subscribe to 16% of the follow-on deal. Shares of Adani En...