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<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> released the composite result and Credit Compendium of Adani Group of <keyword id="20027214" type="General" weightage="20" keywordseo="companies" source="keywords">companies</keyword> for Q1 FY25. The Results Compendium provides a comprehensive overview of the <keyword id="20088085" type="General" weightage="20" keywordseo="financial-performance" source="keywords">financial performance</keyword> of the Adani Portfolio, while the Credit Compendium offers in-depth insights into the portfolio's robust credit strength. According to the results, the strong performance for the quarter was led by <keyword id="20113873" type="General" weightage="20" keywordseo="Adani-Enterprises" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Enterprises" meta.hostid="261" meta.entityid="Adani Enterprises">Adani Enterprises</keyword>' emerging businesses, including solar and wind manufacturing. In a press release, the company stated that it has emerged as India's largest player in the fully integrated <keyword id="19990484" type="General" weightage="20" keywordseo="green-hydrogen" source="keywords">green hydrogen</keyword> chain, as well as in the airports and roads sectors. The company added that AEL's infrastructure businesses' steadily rising contribution is playing a significant role in this growth, with <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> expanding by 69.98 per cent YoY. These fast-growing businesses now contribute 13.3 per cent to the portfolio-level EBITDA, up from 7.2 per cent a year ago. The overall EBITDA of Adani Group companies surged by 32.87 per cent year-on-year (YoY) to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year. The Adani Group highlighted that its 'Core Infrastructure' platform comprises AEL's (Adani Enterprises) Infrastructure businesses, Utility (Adani Green Energy, Adani Power, Adani Energy Solutions, and Adani Total Gas), and Transport (Adani Ports &amp; SEZ) businesses. The Solar module manufacturing business of the group saw module sales rise by 125 per cent YoY in the quarter. Furthermore, the operationalization of photovoltaic cell lines lowered costs, resulting in higher profitability. The airport business also continues to see strong growth from rising passenger movement, increasing consumer offerings, and the addition of routes, airlines, and flights across seven operational airports. Adani Enterprises' performance indicates that in airports, the annual passenger movement across 7 airports crossed 90 million for the first time. During the quarter, eight new routes, six new airlines, and 13 new flights were added across all seven airports. Additionally, 25 new brands were introduced at Lucknow airport after the inauguration of Terminal 3. The road business achieved its highest-ever 730 lane-km construction during this quarter. In the Adani Green Energy segment, construction work for a 500 MW hydro pump storage has commenced, with a 31 per cent YoY capacity addition during the quarter. Another 250 MW wind capacity was operationalized in July at Khavda, bringing the total capacity to 11.2 GW. Adani Energy Solutions stated that the Khavda-Bhuj Transmission Line (KBTL) is fully commissioned, enabling 3 GW green power evacuation from Khavda. The 1,765 ckm Warora Kurnool Transmission Line (WKTL) was also fully commissioned, strengthening the national grid by ensuring seamless power flow between the western and southern regions. Adani Ports &amp; SEZ reported that Vizhinjam port, India's first transhipment port equipped with South Asia's most advanced container-handling technology, was formally commissioned in July and will become operational in November. In the Cements segment, the promoters infused Rs 15,000 crore in two tranches in Ambuja Cements in March and April, fully subscribing to the warrant program and infusing a total of Rs 20,000 crore since the acquisition in September 2022. The company also acquired Penna Cement, increasing the total capacity to 89 MTPA. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms">India’s wearables market decline for the first time as smartwatch shipments fall</a>

EBITDA of Adani Group companies surged by 32.87% year-on-year to ₹22,570 crore

The <keyword id="19987636" type="General" weightage="20" keywordseo="Bihar-government" source="keywords">Bihar government</keyword> is making serious efforts to give a fillip to <keyword id="23049947" type="General" weightage="20" keywordseo="small-scale-and-medium-enterprises" source="Orion">small-scale and medium enterprises</keyword> which would play a crucial role in the overall <keyword id="352701" type="General" weightage="20" keywordseo="economic-development" source="Orion">economic development</keyword> of the state, a top official of the Industries department said. Around Rs 2,900 crore have been disbursed to nearly 74,540 beneficiaries under two schemes, one of which was launched only last year, for promoting Micro, Small and Medium Enterprises ( <keyword id="19910977" type="General" weightage="100" keywordseo="MSMEs" source="keywords">MSMEs</keyword>) in the state, the official said. <keyword id="19903647" type="General" weightage="20" keywordseo="bihar" source="keywords">Bihar</keyword> has a strong MSME base. To promote innovation ecosystem and unlock the enormous entrepreneurial potential of the state, the Mukhya Mantri Udyami Yojana (MMUY) and <keyword id="23049946" type="General" weightage="20" keywordseo="Bihar-Laghu-Udyami-Yojana" source="keywords">Bihar Laghu Udyami Yojana</keyword> (BLUY) were launched in 2018 and 2023 respectively focusing on promotion of MSMEs in the state. "A total of Rs 2,697 crore was disbursed to 34,441 beneficiaries from 2018 till now under MMUY. Similarly, till date Rs 200 crore of the first instalment has been disbursed to 40,099 beneficiaries under BLUY", Secretary, Department of Industries, Bandana Preyashi told PTI. On the one hand, Bihar is getting big ticket investments for major manufacturing units and on the other hand, the state government is also enabling an ecosystem where the MSMEs can thrive on the ground level for the benefit of the rural economy, Preyashi said. The Bihar Laghu Udyami Yojana aims to provide job opportunities to at least one member of poor families whose monthly income is less than Rs 6,000 a month, she said. The state government is providing Rs 2 lakh to each beneficiary in three instalments to set up and run micro and small industrial and processing units, Preyashi said. The government's objective is promotion of MSMEs through awareness, training and handholding support, the Industries secretary said. The state government is encouraging entrepreneurs and investors through the provision of a safe and sound work environment and basic infrastructural facilities which include land, roads, electricity, and water availability, she said. The Industries secretary further said, "With new policies of the state government, Bihar is witnessing significant investment promotion activities, reinforcing its position as an emerging business and industrial hub in the country. During the Bihar Business Connect 2023, 278 companies signed MoUs, committing to investments totalling Rs 50,530 crore." the secretary said. The state government has implemented the Bihar Industrial Investment Promotion Policy (BIPP), Bihar Logistics Policy 2023, Ethanol Production Incentive Policy 2021 and Textile and Leather Policy 2022 to promote industrial growth and investment in the state. "Under these policies, stage-1 clearance was given to 481 applications, with a proposed investment amount of Rs 4,512.85 crore. A total of 175 units were given clearance for financial incentives with an investment of Rs 2,195.10 crore, an all-time high, since the inception of the state investment promotion policies," she said. In 2023-24, 255 startups were recognized in the state and a total of Rs 11.92 crore has been disbursed as seed funding to these startups. From April 2023 to January 2024, Bihar Industrial Area Development Authority (BIADA) allotted plots/sheds to 427 units having a total investment size of Rs 6,145 crore covering 492 acres of land and also creating 35,224 employment in the state, said the secretary. "Infrastructure development in industrial areas was given top priority. Funds of Rs 409.33 crore were approved under Part I and Rs 212.68 crore for construction of unity mall under special assistance to states in 2023-24. In the current financial year of 2024-25,149 units have been granted stage I clearance for a proposed investment amount in Rs 3,950.48 crore in Bihar State Investment Promotion Board", she said. At present, Bihar's proposal to establish a multi-sector Special Economic Zone (SEZ) in Nawanagar and Kumarbagh has been approved by the Government of India. "Authorities concerned are also working on the establishment of Export Promotion Councils (EPCs) in Bihar that will help Bihari Exporters to expand their businesses to international markets", said the secretary. Bihar Chief Minister <keyword id="19907431" type="General" weightage="20" keywordseo="nitish-kumar" source="keywords">Nitish Kumar</keyword> on August 3 this year laid the foundation stone for Rs 1,600 crore cement grinding unit of Ambuja Concrete North Private Limited, a subsidiary of Adani group's Ambuja Cements, in Warisaliganj block in Nawada district. This is considered the largest investment in the state by a cement industry player. "The project is expected to create 250 direct jobs and 1,000 indirect jobs on the site. The project will meet the growing infrastructure needs of Bihar. Adani Group has decided to invest additional Rs 5,500 crore in Bihar in various sectors, including cement manufacturing (in Muzaffarpur), logistics (near Patna) and projects related to agro-industry in Araria, Kishanganj and Begusarai. A total of 40,000 employment will be generated by these investments", said the statement issued by the CMO after the conclusion of the event on August 4.

Bihar government disburses Rs 2,900 crore to 74,540 beneficiaries for promoting MSMEs: Official

<keyword id="20113876" type="General" weightage="20" keywordseo="Adani-Enterprises-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Enterprises Ltd" meta.hostid="267" meta.entityid="Adani Enterprises Ltd">Adani Enterprises Ltd</keyword>, the flagship incubator of billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword>'s conglomerate, on Thursday reported a 37 per cent drop in March quarter <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword>, bogged down by one-time past airport dues and commercial mining losses. Its consolidated net profit of Rs 450.58 crore in January-March - the fourth quarter of fiscal year 2023-24 - compares to Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a stock exchange filing by the company. The firm, which incubates business from airports to data centres, reported an 8 per cent decline in EBITDA (earnings before interest, taxes, depreciation, and amortization) at Rs 3,646 crore in <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword>. While incubating businesses like new energy and airports showed strong momentum, the firm suffered a loss of Rs 201.83 crore in commercial mining, while the pre-tax earnings from the road business plummeted 84 per cent to Rs 222.03 crore. Also, its unit Mumbai International Airport Ltd (MIAL) recognised a one-time exceptional expense of Rs 627 crore to make up for past payments. Adani New Industries Limited (ANIL), a unit of the company that holds the new energy business -- including solar module and wind turbine manufacturing, saw a 6.2x growth in EBITDA to Rs 641 crore, while the same at airports business more than doubled to Rs 662 crore. The number of passengers at company-run airports rose 19 per cent to 88.6 million. Its revenue from operations was up at Rs 29,180.02 crore in the three months to March 31 from Rs 28,943.84 crore a year ago. For the full fiscal 2023-24 (FY24), net profit soared 31 per cent to Rs 3,240.78 crore. This is despite revenue from operations falling to Rs 96,420.98 crore from Rs 1,27,539.50 crore in 2022-23. Its consolidated EBITDA for FY24 increased by 32 per cent to Rs 13,237 crore that of incubating businesses grew by 47 per cent year-on-year. "<keyword id="20113873" type="General" weightage="20" keywordseo="Adani-Enterprises" source="keywords">Adani Enterprises</keyword> has once again validated its position not only as the premier business incubator in India but also as a global leader in infrastructure development," said Gautam Adani, Chairman of the Adani Group. "AEL's resilient growth model of incubation confirms the operational and organisational excellence. This is supported by high ratings and fully funded growth. Our commitment to excellence in project management and operations continues to set global benchmarks, ensuring sustainable long-term value creation for our stakeholders. We remain dedicated to corporate governance, meticulous compliance, robust performance and effective capital flow management." Giving an operational update, the firm said ingot and wafer units, which are used to manufacture solar modules that trap sunlight to produce electricity, are operational, while it has got orders for the manufacture of 254 sets of wind turbines. Its joint venture with EdgeConneX has one operational data centre in Chennai and construction in Noida and Hyderabad facilities is 81-88 per cent complete. It plans to build nine data centres with a total capacity of 1 gigawatt by 2030 to provide infrastructure for the booming digital services demand. Also, Adani started a copper unit in Mundra in March to foray into the metals business. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/vivo-v30e-with-5500mah-battery-launched-in-india-starting-at-27999/articleshow/109781103.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-v30e-with-5500mah-battery-launched-in-india-starting-at-27999/articleshow/109781103.cms" target="_blank">Vivo V30e with 5,500mAh battery launched in India starting at ₹27,999</a>

Adani Enterprises Q4 net falls 37%; incubating businesses show strong momentum

As many as seven <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-group" source="keywords">Adani group</keyword> stocks ended lower on Friday as the Swiss authorities froze USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied. Shares of <keyword id="19934911" type="General" weightage="20" keywordseo="Adani-Power" source="keywords">Adani Power</keyword> dropped 2.73 per cent, Adani Energy Solutions declined 2.42 per cent, Adani Ports slipped 1.37 per cent, Adani Green Energy went lower by 1.17 per cent, Adani Enterprises dipped 0.76 per cent, Adani Total Gas (0.55 per cent) and Adani Wilmar (0.37 per cent) on the BSE. However, three group firms managed to settle in the green. The stock of <keyword id="19963163" type="General" weightage="20" keywordseo="ACC" source="keywords" meta.keywordsubtype="org" meta.entityname="ACC" meta.hostid="261" meta.entityid="ACC">ACC</keyword> jumped 1.94 per cent, NDTV climbed 1.01 per cent and <keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> (0.01 per cent). During the day, shares of Adani Power tumbled 3.20 per cent, Adani Energy dived 2.75 per cent, Adani Green declined 1.53 per cent, Adani Ports went down by 1.51 per cent, Adani Enterprises fell 1.18 per cent, Adani Wilmar (1.07 per cent), Adani Total (0.89 per cent), NDTV (0.57 per cent), Ambuja Cements (0.54 per cent) and ACC (0.46 per cent). Swiss authorities have frozen USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of money laundering probe, suspecting he may be a frontman from the Adani group -- a charge the conglomerate vehemently denied saying it was neither involved in any Swiss court proceedings nor any of its accounts are subject to sequestration. US-based short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword>, which had last year targeted the Adani group in a damning report that led to wiping away of USD 150 billion in market value of listed firms of the conglomerate in the following weeks, in a post on X cited "newly released Swiss criminal records reported by Swiss media outlet" to state that "Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021." "Prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius &amp; Bermuda funds that almost exclusively owned <keyword id="20372802" type="General" weightage="20" keywordseo="Adani-stocks" source="keywords">Adani stocks</keyword>," it said citing the report. Adani group rejected the allegations as baseless, saying it had no involvement in any Swiss court proceedings. "We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority," it said. The Swiss media outlet Gotham City in its report stated that a ruling by the Federal Criminal Court (FCC) reveals that the Geneva Public Prosecutor's Office was investigating alleged wrongdoing and more than USD 310 million belonging to an alleged frontman for billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> have been sequestered in five Swiss banks over the last three years. The Swiss investigators suspect that the associate, Chang Chung-Ling, is not the ultimate beneficial owner (UBO) of the company under investigation, but a mere front. The Adani Group, however, said that the court order was not linked to them and they have not been mentioned in it. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

<ul><li><keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> Enterprises on Friday said it will raise Rs 20,000 crore in equity to fund the massive expansion of the business empire that now spans from ports to energy to cement. </li><li>Shares of Adani Enterprises Ltd (<keyword id="236769" type="General" weightage="80" keywordseo="ael" source="Orion">AEL</keyword>) have more than doubled in the last year, giving it a market value of Rs 4.46 lakh crore.</li><li>The group has a significant presence in ports, airports, roads, power, renewable energy, electricity transmission, gas distribution, real estate, FMCG, cement and financial services. </li></ul> Billionaire <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>'s conglomerate on Friday said it will raise Rs 20,000 crore in equity to fund the massive expansion of his sprawling business empire that now spans from ports to energy to cement. Adani Enterprises Ltd, the flagship firm of <keyword id="21718" type="General" weightage="50" keywordseo="asia" source="Orion">Asia</keyword>'s richest person, will raise funds through the issue of fresh equity shares, it said in a stock exchange filing. The public offering will help Adani Enterprises Ltd (AEL), which is the business incubator for the group and currently houses businesses from civil aviation to data centres, diversify the shareholder base and build its credibility and acceptance among investors. Promoters currently hold 72.63 per cent shares of AEL. Of the remaining 27.37 per cent, almost 20 per cent is held by insurance companies and foreign portfolio investors. Shares of AEL have more than doubled in the last year, giving it a market value of Rs 4.46 lakh crore. Benchmark S&amp;P BSE Sensex index has risen just 5.4 per cent over the same period. In the stock exchange filing, AEL said its board of directors met on Friday and approved the "raising of funds by way of a further public offering through a fresh issue of equity shares by the company aggregating up to Rs 20,000 crore." The company will seek shareholder approval for the offering through a postal ballot. The Adani group has previously stated that it is working on plans to increase the free float. Adani started AEL in 1988 with the commodity trading business and used it as an incubator of new businesses before spinning them off into separately listed firms. The group now has a significant presence in ports, airports, roads, power, renewable energy, electricity transmission, gas distribution, real estate, FMCG, cement and financial services. Recently, the group also entered the media business. Ports, power, transmission, green energy, gas and edible oil businesses are separately listed companies. The group has made forays into a diverse array of businesses with dealmaking in recent months. It recently acquired Holcim Ltd's India cement units for USD 10.5 billion, India's second-biggest deal of the year. It is also making a bid to take over New Delhi Television Ltd (<keyword id="6420486" type="General" weightage="50" keywordseo="ndtv" source="Orion">NDTV</keyword>). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/uks-asian-rich-list-hinduja-family-retain-top-spot-uk-pm-sunak-his-wife-make-debut/articleshow/95761539.cms">UK's Asian Rich list: Hinduja family retain top spot, UK PM Sunak, his wife make debut</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/construction-cost-of-greenfield-infra-projects-increased-by-5-7-q32022-cbre/articleshow/95762330.cms">Construction cost of greenfield infra projects increased by 5-7% Q32022: CBRE</a>

Adani Enterprises to raise ₹20,000 crore via a follow-on public offer

A unit of <keyword id="6437412" type="General" weightage="20" keywordseo="Qatar-Investment-Authority" source="Orion">Qatar Investment Authority</keyword>, <keyword id="119583" type="General" weightage="20" keywordseo="SBI-Mutual-Fund" source="Orion">SBI Mutual Fund</keyword>, and foreign investment funds <keyword id="6354527" type="General" weightage="20" keywordseo="Nomura" source="Orion">Nomura</keyword> and <keyword id="44473" type="General" weightage="20" keywordseo="Citigroup" source="Orion">Citigroup</keyword> were the biggest buyers of shares in <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="267" meta.entityid="Adani Group">Adani group</keyword>'s <keyword id="22661797" type="General" weightage="20" keywordseo="power-transmission-unit" source="Orion">power transmission unit</keyword>'s USD <keyword id="22661798" type="General" weightage="20" keywordseo="1-billion-QIP" source="Orion">1 billion QIP</keyword>, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of <keyword id="19964750" type="General" weightage="20" keywordseo="Adani-Energy-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Energy Solutions" meta.hostid="267" meta.entityid="Adani Energy Solutions">Adani Energy Solutions</keyword> Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire <keyword id="22623487" type="General" weightage="20" keywordseo="Stanley-Druckenmiller" source="keywords">Stanley Druckenmiller</keyword>'s family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold. Two Mauritius funds of Citigroup bought 8.88 per cent of the shares sold while four SBI funds - SBI Infrastructure Fund, SBI Large &amp; Midcap Fund, SBI Long term Advantage Fund Series IV and SBI Magnum Children's Benefit Fund - together took home 7.93 per cent of the shares. Nomura Singapore Ltd ODI cornered 7.5 per cent of the shares, the filing showed. INQ had in August last year acquired nearly 2.7 per cent in Adani Green Energy Ltd - the renewable energy firm of the conglomerate run by billionaire Gautam Adani. In 2020, it had acquired a stake in Adani Electricity Mumbai Ltd, a subsidiary of AESL. The AESL QIP last week was oversubscribed six times and fetched demand of over Rs 50,000 crore against an issue size of USD 1 billion. <keyword id="22636516" type="General" weightage="20" keywordseo="Duquesne-Family-Office" source="keywords" meta.keywordsubtype="org" meta.entityname="Duquesne Family Office" meta.hostid="267" meta.entityid="Duquesne Family Office">Duquesne Family Office</keyword> and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - bought shares but AESL did not disclose the exact number of shares they bought since these were less than 5 per cent of the issue size, sources said. The QIP issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies with high governance and are known for staying invested for decades. The QIP was the first public equity raise by the conglomerate since a damning Hindenburg report last year wiped away billions in shareholder value. The demand generated made the AESL QIP the largest in the energy space. Duquesne was founded by billionaire Stanley Druckenmiller, who along with George Soros in 1992 broke the Bank of England by shorting the British pound, leading to its crash and earnings over a billion dollars. Adani Group has a history of introducing several long-only investors in the market. In the past years, it has brought large investors including GQG Partners and International Holding Company (IHC) besides QIA. Other major global names that participated in the QIP include Blackrock, Jupiter Asset Management, and Eastspring. Domestic mutual funds that have participated included HDFC Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, LIC, WhiteOak, 360One among others. Insurance companies including SBI Insurance, SBI Pension and ASK Asset Management have also participated, according to sources. QIP is an instrument used by listed companies to raise funds from large institutions. The fundraise is the first after Adani group's flagship firm scrapped a Rs 20,000 crore issue in February last year, following the Hindenburg report alleging accounting fraud and stock manipulation. Though the group vehemently and repeatedly denied all allegations, listed companies of the conglomerate at one point saw over USD 150 billion of their market value being wiped out. While the group has largely recovered, a successful QIP is being seen as a powerful vote of investor confidence in the tycoon. Separately, Adani Enterprises Ltd, the flagship firm of the group, is looking to revive its first-ever public sale of bonds. It plans to raise as much as Rs 600 crore. The company has hired Trust Investment Advisors, AK Capital Services and Nuvama Wealth Management as lead managers for the issuances. The group had tapped the dollar bond market in March this year - the first time since the Hindenburg report - when its solar energy unit Adani Green Energy Ltd and associated firms got bids of about USD 2.9 billion.

You Searched For "Adani Enterprises 20000 crore" and got 6 results

EBITDA of Adani Group companies surged by 32.87% year-on-year to ₹22,570 crore

ANI

Bihar government disburses Rs 2,900 crore to 74,540 beneficiaries for promoting MSMEs: Official

PTI

Adani Enterprises Q4 net falls 37%; incubating businesses show strong momentum

PTI

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

PTI

Adani Enterprises to raise ₹20,000 crore via a follow-on public offer

PTI

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

PTI

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