Adani Group

27 Dec

Adani family to invest ₹9,350 cr in Adani Green

Priyanka BhowmickBusiness, Economy, FinanceAdani Group, Business

Adani Green Energy (AGEL) on December 26 said its board of directors has approved a priority issuance of warrants to promoters for an amount of Rs 9,350 crore at Rs 1,480.75 per share. The funds will be used to reduce and accelerate capital expenditures, the company said. It added that AGEL is now fully equipped to achieve its target of 45 GW by 2030, with 20.6 GW of installed capacity, over 2,00,000 acres (equivalent to 40 GW of additional capacity) of secured land in India's resource-rich areas, and an additional equity infusion of Rs 9,350 crore which fully funds this…

Adani Group won Dharavi redevelopment project with Rs 5,069-crore bid

Business CorrespondentBUSINESSAdani Group, Maharashtra

Adani Group has attained the tender for the redevelopment of Mumbai's Dharavi area, one of the largest slum clusters in Asia. The Maharashtra govt. concerned officials, on November 29, offered the financial tender for the Dharavi redevelopment project. Three companies namely Adani Realty, DLF and Naman Group had submitted proposal for the redevelopment of Dharavi and rehabilitation of slum dwellers. With the selection of the successful contestant, the redevelopment of Dharavi will finally start now, after multiple failed attempts since the last 15 years. The conqueror of worth Rs 20,000-crore project is planned on the basis of the highest initial…

Goutam Adani becomes India’s Second-Largest Cement Maker After Holcim Deal

editorBusinessAdani Group

Adani is now to become India’s second-largest cement manufacturer, Gautam Adani said the group expects aggressive expansion and plans to double the existing 70 million tonnes per year capacity within the next five years. Adani Group Chairman Gautam Adani said, “Our move into the cement business is a validation of our belief in our nation’s growth story and our own capabilities. We had stated last year that this was a sector in which we would be investing and had already incorporated Adani Cement as a wholly-owned subsidiary. The drivers for this decision have been based on two primary factors. The…