Gautam Adani came out of Hindenburg crisis, know how he raised 15 billion dollars from equity and bonds
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Indian industrialist Gautam Adani (Gautam AdaniAmerican shot seller Hindenburg report regarding )’s company Adani Group (Hindenburg Report)’s report came in January last year. Due to this, he lost more than 30 percent of his total wealth. During this time, Reliance Industries chief Mukesh Ambani left him behind in terms of wealth. However, Adani raised $5 billion in equity and nearly $10 billion in debt in 2023, despite incurring huge losses. This led to a slow and steady recovery in the company’s shares. Star investor GQG Partners bought stakes worth about US$4.3 billion in five group companies between March and August, according to company filings, while Qatar Investment Authority (QIA) and French energy giant TotalEnergies bought renewable energy firm Adani Green Energy Ltd. Invested 770 million US dollars in. The acquisition of Ambuja Cement and ACC was also a turning point for the Adani Group. A US$3.5 billion loan was then refinanced to fund the deal, increasing the firm’s bankability.
Gautam Adani is investing on many fronts
According to the data available in the stock exchange, Adani Group has expanded its industrial business in the year 2023. It has acquired Sanghi Cement for USD 431 million, 49.38 percent in Indian Oil Tanking for USD 128 million, Karaikal Port for USD 181 million and Coastal Energy for USD 420 million. Diversifying from just ports and coal business, Adani Group is making active investments in airports, green energy, data centres, digital services and media. Due to this the shares of the company are increasing rapidly. While top businessmen in India like Mukesh Ambani and Shiv Nadar added billions of dollars to their net worth, Gautam Adani saw the biggest net worth decline in 2023 after the Hindenburg affair came to light, losing about $60 billion. Before the Hindenburg report, Adani’s net worth was more than $110 billion, and he had replaced Mukesh Ambani as India’s richest man. However, Adani lost about 34 percent of his wealth due to the sharp fall in share prices and collapse of major deals. According to Forbes data, Adani is currently the second richest man in the country after Mukesh Ambani with a net worth of $72.5 billion.
French company invested 300 million dollars
French energy giant Total Energies has invested US $ 300 million in a renewable energy joint venture with Adani Green Energy Limited (AGEL). AGEN said in a statement on Wednesday that it has completed a 1,050 MW joint venture (JV) with Total Energies. Under the joint venture, Total Energies has invested $300 million in AGEL’s subsidiary to acquire 50 percent stake in the projects. The joint venture has a portfolio of 1,050 MW comprising a mix of both solar and wind power projects in India with a mix of already operational (300 MW), under construction (500 MW) and under development assets (250 MW). With this transaction, Total Energies has strengthened its strategic alliance with AGEN. This will help AGEN achieve the target of 45 GW capacity by 2030.
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