Search Results for: adani

Hindenburg Research has accused SEBI head Madhabi Puri Buch of previously investing in offshore funds linked to the Adani Group. Buch has dismissed the allegations as baseless, affirming that all required disclosures were properly made. Hindenburg claims that Buch and her husband held stakes in a Bermuda-based fund in 2015, which reportedly had connections to Adani Group associates. The Adani Group rejected these claims, calling them an attempt to tarnish the company’s reputation. The allegations…

Adani Energy Solutions’ $1 billion qualified institutional placement (QIP) was oversubscribed six times, drawing over Rs 500 billion in demand. Billionaire Stanley Druckenmiller’s Duquesne Family Office and two other US-based long-only funds, Driehaus Capital Management and Jennison Associates, made their maiden investment in the Adani Group’s power transmission business through this QIP. The $1 billion QIP attracted more than 120 investors interested in the power transmission, distribution, and smart metering sectors. Other top global investors…

Sri Lanka’s Supreme Court has scheduled a hearing for October 14 on five fundamental rights petitions against the Adani Group’s wind power plant in Mannar. The respondents are required to file objections by September 13. Environmental NGOs, led by the Wildlife and Nature Protection Society, argue that the project endangers biodiversity and threatens migratory birds. The petitions challenge the legality of the Cabinet’s decision to treat the Adani project as a Sri Lanka-India government-to-government venture,…

Adani Power has reported a 55 per cent year-on-year decline in net profit, amounting to Rs 39 billion, compared to Rs 87.59 billion in the same period last year. Despite the profit drop, the company’s revenue increased by 36 per cent year-on-year, reaching Rs 147.17 billion from Rs 110.05 billion in the corresponding quarter of the previous year. Power demand across India continues to grow strongly, with aggregate demand rising by 10.6 per cent year-on-year…