Tag: Adani Group

Adani Group Generates ₹4,850 Crore from Adani Wilmar Stake Sale

Adani Group has successfully raised ₹4,850 crore through an offer for sale (OFS) of its 13.5% stake in Adani Wilmar, marking a strategic exit to prioritize core infrastructure projects. The sale is part of a plan to comply with public shareholding norms and focus resources on sectors like airports and green hydrogen. Despite the stock's decline during the OFS, Wilmar International is set to acquire the remaining stake.

Adani Group Stocks Tumble as SEC Charges Cause Market Shock

On November 22, 2024, Adani Group stocks suffered dramatic losses after the SEC filed charges against Gautam Adani and others, causing a $22 billion market cap erosion. Adani Green Energy and Adani Enterprises were hardest hit. Tata Power and NTPC also faced challenges, while LIC remained stable, with analysts observing potential political impacts on investment recovery.

Adani Shares Plummet After Gautam Adani Faces US Indictment on Bribery Charges

Gautam Adani and top executives face US charges for a bribery scheme involving $265 million to secure profitable contracts. Despite Adani Group's denial of allegations, the news caused a sharp dip in their stock prices. The case sheds light on the complexity of the alleged scheme and its repercussions on global markets.

Gautam Adani Faces Serious Legal Challenges: U.S. Indictment and Bribery Allegations

Gautam Adani, an influential Indian billionaire and chairman of the Adani Group, has been implicated in a serious U.S. indictment alleging bribery and fraud. The charges claim Adani and other executives conspired to pay substantial bribes to secure key contracts for Adani Green Energy. The indictment is accompanied by SEC civil actions, underscoring global efforts to tackle corruption affecting U.S. markets.