Adani Group's gross debt rises to Rs 2.2 TrillionBusiness News

May 17, 2022 12:26
Adani Group's gross debt rises to Rs 2.2 Trillion

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Adani Group had seen a huge growth in the market and Gautam Adani is the richest businessman in the country after Mukesh Ambani of Reliance Industries Limited. The combined gross debt of Adani Group and its companies reached Rs 2.22 trillion by the end of March 2022. This is a 42 percent group and it was Rs 1.57 trillion a year ago. The gross debt-to-equity rate was 2.36 at the end of March which is the highest in the last four years for Adani Group and it was 2.02 last year and Rs 1.98 by the end of the financial year of 2019.

Gautam Adani announced a 10.5 billion USD deal to acquire Holcim's India business. A day after this, the Adani family made an offer to acquire 26 percent stake in Ambuja Cements and ACC Ltd and they are priced at 6.5 billion USD. Adani Group made an offer through its Mauritius-based subsidiary Endeavour Trade for Rs 385 per share and this is for Ambuja Cements Ltd and Rs 2300 per share for ACC Ltd. Adani Group made an open offer of 51.63 crore quiet shares which is 26 percent of the expanded share capital. The total consideration is said to be Rs 19,879.57 crores.

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Adani Group  investments  Gautam Adani