/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
After withdrawing the Rs 20,000 crore FPO, his coal-to-ports conglomerate now faces a funding crisis.
Editor's note: India’s largest follow-on public offer to raise Rs 20,000 crore (about $2.4 billion) was cancelled on Wednesday evening, a day after Adani Enterprises managed to close the offer successfully, with global funds and family offices pitching in with generous investments. The Adani group flagship said it would return investors their money. Chairman Gautam Adani cited the “current market volatility” for the sudden decision, and insisted it was taken to protect investors. “Given these extraordinary circumstances, the Company’s board felt that going ahead with the issue would not be morally correct. The interest of the investors is paramount and hence to insulate them from any potential financial losses, the Board has decided not to go ahead with the FPO,” he said in a message to stock exchanges. But the fact is that had the FPO gone through at a time when Adani Enterprises's shares were in free fall, the investors would have faced losses as soon as they got their shares. And, with no sign of a recovery in the stock’s price on the horizon, investors would have lost faith …
FY26 numbers show that Airtel is stealing a march on its larger rival on most counts and is unrelenting in its ambition, casting a cloud on Jio’s valuation.
Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
The Adani group plans to spend Rs 1 lakh crore over the next five years to develop its airport business. While everything—including the funding—is sorted, a prolonged war could disturb the math.
