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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Adani group’s ‘offshore solution’ edged out the bids put in by Kumar Mangalam Birla and Sajjan Jindal. But will the calculated risk pay off?
Editor's note: Gautam Adani played it smart. The founder of the Adani group had initially put in the lowest bid for Ambuja Cements Ltd and its subsidiary, ACC Ltd, but walked away with the deal right under the noses of fellow billionaires Kumar Mangalam Birla and Sajjan Jindal. Birla, keen to buy the two marquee cement brands to keep his UltraTech Cement’s leadership status in the Indian market unchallenged, had placed an offer in the region of Rs 430 a share for Ambuja Cements, says an executive with direct knowledge of the transaction. That would have valued Holcim’s 63.11% stake in Ambuja Cements at about Rs 53,000 crore, or $6.7 billion. That was markedly higher than even the revised bid of Rs 385 a share that Adani put on the table, valuing Holcim’s shareholding at about Rs 48,000 crore, or $6.1 billion. Jindal, whose JSW Cement would have leapfrogged from the middle of the pack to number two in the market with the deal, promised to put in a bid of $7 billion, of which $4.5 billion was his personal wealth. Not …
The Adani group’s ‘offshore solution’ edged out the bids put in by Kumar Mangalam Birla and Sajjan Jindal. But will the calculated risk pay off?
Editor's note: Gautam Adani played it smart. The founder of the Adani group had initially put in the lowest bid for Ambuja Cements Ltd and its subsidiary, ACC Ltd, but walked away with the deal right under the noses of fellow billionaires Kumar Mangalam Birla and Sajjan Jindal. Birla, keen to buy the two marquee cement brands to keep his UltraTech Cement’s leadership status in the Indian market unchallenged, had placed an offer in the region of Rs 430 a share for Ambuja Cements, says an executive with direct knowledge of the transaction. That would have valued Holcim’s 63.11% stake in Ambuja Cements at about Rs 53,000 crore, or $6.7 billion. That was markedly higher than even the revised bid of Rs 385 a share that Adani put on the table, valuing Holcim’s shareholding at about Rs 48,000 crore, or $6.1 billion. Jindal, whose JSW Cement would have leapfrogged from the middle of the pack to number two in the market with the deal, promised to put in a bid of $7 billion, of which $4.5 billion was his personal wealth. Not …
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
