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- Adani Group Seals ₹80,000 Crore In 33 Deals Since 2023 Hindenburg Crisis
Mumbai31 minutes ago
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According to Forbes, Adani Group owner Gautam Adani is the 27th richest person in the world with a net worth of around Rs 6 lakh crore.
Adani Group has completed 33 acquisitions worth Rs 86,000 crore since January 2023. That means 33 companies or projects have been purchased. In this, maximum investment has taken place mainly in ports, cement and power sectors.
The group has completed these deals at a time when the group suffered a major blow due to the report of American short seller Hindenburg Research in the beginning of 2023, which reduced the market confidence in the group companies.
Major allegations related to accounting deficiencies and stock manipulation were made in the Hindenburg Report. The group continued to deny the allegations and on September 18 this year, market regulator SEBI rejected the allegations and gave a clean chit to the group.
Highest investment in 33 deals in ports sector
Among the 33 deals of Adani Group, the maximum investment was in the ports sector. Rs 28,145 crore was spent here. Rs 24,710 crore was invested in cement sector, Rs 12,251 crore in power, Rs 2,544 crore in transmission and distribution and Rs 3,927 crore in new business.
Jaypee Group’s planned acquisition of Rs 13,500 crore is not included in this list, because this deal is still on the negotiation table. Apart from this, the group is also negotiating some more deals.
Australia’s North Queensland Export Terminal (NQXT)
Big deal in ports sector- Australia’s NQXT
In April this year, Adani Ports bought Australia’s North Queensland Export Terminal (NQXT) for Rs 21,700 crore, this is the group’s biggest deal among these 33 deals.
Apart from this, Karaikal Port was purchased for Rs 1,485 crore in April 2023, Gopalpur Port for Rs 3,080 crore in March 2024, Astro Offshore for Rs 1,550 crore in August 2024 and Dar es Salaam Port of Tanzania was purchased for Rs 330 crore (May 2024).
One purchase after another in cement sector
In the cement business, Ambuja Cements acquired 56.74% stake in Sanghi Industries for Rs 5,000 crore in August 2023. ACC bought Asian Concretes and Cements in January 2024 for Rs 775 crore.
Bought Tuticorin grinding unit of My Home Group for Rs 413.75 crore in April 2024, Penna Cement for Rs 10,422 crore in June 2024, Orient Cement for Rs 8,100 crore in October 2024 and controlling stake in ITD Cementation for Rs 5,757 crore in April 2025.
Adani Group had bought Ambuja Cement and ACC Cement for $10.5 billion in June 2022.
power sector purchasing
In power, Lanco Amarkantak was bought for ₹4,101 crore, Vidarbha Industries for ₹4,000 crore and Coastal Energy for ₹3,335 crore. The remaining deals were in data centres, electricity transmission, roads and real estate.
Market cap fell by Rs 1 lakh crore due to Hindenburg reports
On January 24, 2023, the American short-seller company had accused Gautam Adani and his companies (such as Adani Ports and Adani Power) of stock market manipulation.
Apart from this, many allegations were leveled against the group ranging from money laundering to share manipulation. Due to this, the market value of the group’s shares had reduced by about 12 billion dollars (Rs 1 lakh crore) by January 25. Now Hindenburg is closed.
After the crisis, the group took strict action on balance sheet repair, debt reduction and capital allocation. The net debt-to-EBITDA ratio stands at around 3x, which is below the group’s guidance of 3.5x to 4.5x.
The Supreme Court had formed a 6-member committee to investigate.
Adani had denied allegations of any wrongdoing. However, the Supreme Court formed a 6-member committee to investigate this case and SEBI also investigated the matter.
Adani has already been acquitted by the court in this case. After the verdict, Gautam Adani had said, ‘The court’s decision shows that truth has won. Satyamev Jayate. I am grateful to those who stood with us. Our contribution to India’s growth story will continue. Jai Hind.
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