Gautam Adani: Another big blow to Gautam Adani, big deal in power sector fell through – more setback for gautam adani db power deal fell through
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This is the second setback for Adani Group after the report of American short selling firm Hindenburg Research came out on 24 January. Earlier, the group had to withdraw the FPO of its flagship company Adani Enterprises. In this report, it was alleged that Adani Group rigged shares for many years. The Adani Group has denied these allegations but the group’s shares have fallen heavily in recent days. Its market cap has remained less than $ 100 billion. In view of this, the group has changed its strategy. To win back the confidence of investors, Adani Group is now focusing on improving its financial condition instead of expanding aggressively. The group is reducing its debt, redeeming pledged shares and increasing cash.
debt on adani power
Adani Power has a total installed capacity of 13.6 GW. The company has seven thermal plants in seven states. Also there is a 40 MW solar plant. According to the figures of 30 September 2022, the company has a total debt of Rs 36,031 crore. Had it got a deal with DB Power, it would have further strengthened Adani Group’s position in the power sector. DB Power has two units of 600 MW each in Janjgir Champa district of Chhattisgarh. Right now the ownership of this company is with Dainik Bhaskar Group. This company has a debt of Rs 5,500 crore.
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