A look at the group’s six BSE-listed companies shows that its debt-to-equity ratio has been improving for its non-power business (see chart). And international groups are queueing up to partner with the group. However, the project was put on hold amid local opposition. Adani Group on Monday said it had decided to acquire debt of GVK Airport Developers (GVKADL), the firm through which GVK Group holds 50.5% … Adani Group companies tapped international debt markets with bond sales of more than $2bn and Adani Gas sold a 37.4 per cent stake to Total for a … Through Adani Logistics, it has presence in most segments of the cargo business. Adani Group companies tapped international debt markets with bond sales of more than $2bn and Adani Gas sold a 37.4 per cent stake to Total for a reported $600m, which gave it ample cash flow to weather the shock of the pandemic when it hit. “In the worst-case scenario, management could cut capex to only maintenance, which is about Rs 800 crore,” said Fitch in its report, suggesting that the debt overhang need not be serious. The producer, which had close to 7 gigawatts of gross renewable power capacity at the end of last year, is targeting 35 gigawatts by 2025. Inevitably, comparisons have been drawn between the industrial empire of Mukesh Ambani and that of Gautam Adani but the two have followed different approaches. The money was being raised for Adani Rail Infra Pvt Ltd, a company that has shown interest in running private trains in India, but that news was overshadowed by another announcement that the group was acquiring a controlling stake in the marque Mumbai airports from the GVK group. Adani Group: Founded by Gautam Adani, the company does business in logistics, agribusiness and energy sectors, among other things. "Upon the acquisition of the debt of GVK ADL, Adani Group will take steps to obtain necessary customary and regulatory approvals, as may be … It’s also Total’s third deal in a week in the renewables area, following the acquisition of a French biogas producer and of a stake in a large U.S. solar portfolio, underscoring mounting pressure from investors, governments and consumers on energy giants to reduce carbon dioxide emissions. It’s the power companies that have reported high levels of debt principally on account of the stressed 4,620 MW ultra mega Mundra power plant and its takeover of the Mumbai power retailing business. In power, the group is present in all three verticals of generation, transmission and distribution. India Business News | Indian Stock Market News | Bollywood Movies | Indian Cricket News | India News, The real story behind Adani-Mumbai Airport deal, Challenges that Dinesh Khara, the new SBI chief faces, Indian economy to contract 10.5% in FY21: Fitch, Biden signs executive actions on COVID, climate change, US Vice President Harris swears in 3 new senators. The state-owned lender was extending support to a group that was neck deep in debt at the time. It continues to bid big to acquire large projects. India needs free, fair, non-hyphenated and questioning journalism even more as it faces multiple crises. Karan Adani, CEO and Whole Time Director of APSEZ said, "The issuance is in line to the group’s capital management philosophy of re-engineering the capital structure and extending debt … The Adani Group raises debt and equity from overseas On July 1, 2018, the group said it would raise Rs 5,000 crore-Rs 6,000 crore by selling equity in companies like Adani … The amount owed by this group “called the Adani Group” both in terms of its long term and short term debt on Thursday is around Rs 72,000 crore, he added quoting reports. Chairman Adani last year signaled there was room for founders to dilute their stake in the company and flagged global energy producers, including Total, were interested in investing as they expand their renewable portfolios. This included Adani Power (Rs 47,609 crore), Adani Enterprises (Rs 22,424 crore), Adani Ports (Rs 20,791 crore) and Adani Transmission (Rs 8,356 crore). “India is the right place to put into action our energy transition strategy based on two pillars: renewables and natural gas,” Total CEO Patrick Pouyanne said in the statement. Last year, Mukesh Ambani — India’s richest man — mopped up about $27 billion from Facebook Inc., Google and private-equity investors for his technology and retail ventures. Consider: The group operates 11 ports and terminals along the coastline and has acquired rights to six airports - eight if the two Mumbai ones are included. Adani Group denied allegations levelled by Rajya Sabha MP Subramanian Swamy claiming that the corporate group has outstanding loans to the tune of Rs 4.5 lakh crore. The … Correct me if I … The amount owed by this group "called the Adani Group" both in terms of its long term and short term debt today is around Rs 72,000 crore, he added quoting reports. Welcome to the White House, US President Biden. Reliance Industries Ltd (RIL) has largely depended on acquisitions. Adani has since confirmed to the Australian Financial Review it will pay off the $100 million bond due in May 2020. Upon the acquisition of GVK ADL's debt, Adani Group will take steps to obtain necessary customary and regulatory approvals to acquire the controlling interest in MIAL, the company added. Adani Enterprises Ltd., the biggest listed company in his group, had about $1.7 billion of consolidated debt as of March 2020, according to Brickwork Ratings.