/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The conglomerate’s debt rose 40% in just one year. Yet, lenders remain confident in its long-gestation projects.
Editor's note: The Adani group positions itself as a champion of new infrastructure. Undeterred by the costs involved, it is happy to rack up debt with this goal in mind. The Ahmedabad-based group’s consolidated borrowings rose about 40% by the end of the 2021-22 at Rs 2.2 lakh crore, as against Rs 1.57 lakh crore in 2020-21. This makes it India’s fourth largest corporate borrower, behind the Tata group (Rs 2.89 lakh crore), Reliance Industries (Rs 2.66 lakh crore) and the Aditya Birla Group (Rs 2.29 lakh crore). We wrote in September last year about the Adani group’s mountain of debt and how as its infrastructure ambitions grew, the conglomerate loaded up on bonds. Since then, investors and bankers have continued to gravitate towards it. Its unblemished repayment record, strong share capital base, rich cash flow and the ability to execute projects make it a favourite of local and global bankers alike. “A lot of the credit goes to Rajiv Nayar, who was with Citibank for 30 years before joining Adani as its chief financial officer. He has a great reputation with …
A proposed SEC settlement lifts the biggest overhang on the Adani Group—its access to US capital markets.
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.
Despite a higher offer, creditors chose Gautam Adani’s Adani Enterprises—setting up a courtroom fight that raises questions over the bankruptcy resolution process’s priorities.
