🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

A relative of Gautam Adani turned a bankrupt firm into a nearly $1 bn company

Livemint

Livemint · 10m ago

A relative of Gautam Adani turned a bankrupt firm into a nearly $1 bn company

Diamond Power Infrastructure Ltd, a small electric cables and transmission towers manufacturer based in Ahmedabad, has experienced a significant turnaround, going from bankruptcy to a market capitalization of nearly $1 billion. The firm's improved financial position can be attributed to increased business from the Adani conglomerate. However, while the company's chairman and managing director, Rakesh Shah, is the brother-in-law of Gautam Adani, the Indian business tycoon, Diamond Power Infrastructure claims that their transactions with Adani group companies are not related-party transactions. Experts suggest that regulatory bodies should expand the definition of related parties to include such relationships.

1

Related News

US probing Adani Group over potential bribery, company denies foul

Livemint

Livemint · 1y ago

US probing Adani Group over potential bribery, company denies foul

US prosecutors are reportedly expanding their investigation into India's Adani Group, with a focus on potential bribery and the conduct of founder Gautam Adani. The investigation is examining whether an Adani entity or individuals associated with the company paid officials in India for preferential treatment on an energy project. It also extends to Indian renewable energy firm Azure Power Global Ltd. Adani Group denies knowledge of any investigation against its chairman and affirms compliance with anti-corruption laws. The investigation follows allegations of stock price manipulation and accounting fraud made by Hindenburg Research last year.

Adani to invest $14 bn in FY25

Thehindubusinessline

Thehindubusinessline · 1y ago

Adani to invest $14 bn in FY25

Adani Group, led by chairman Gautam Adani, plans to invest over ₹1.2 lakh crore (about $14 billion) in various sectors such as ports, energy, airports, commodities, cement, and media. This investment is part of the company's goal to spend $100 billion in the next 7-10 years to expand its businesses. About 70% of the planned investment will be allocated to Adani's green portfolio, including renewable power and green hydrogen projects. The company's strong cash flows and profitability have paved the way for these mega-scale investments.

US SEC issues summons for Gautam Adani, nephew on bribery allegations

VCCircle

VCCircle · 8m ago

US SEC issues summons for Gautam Adani, nephew on bribery allegations

The US Securities and Exchange Commission (SEC) has issued a summons to Indian billionaire Gautam Adani and his nephew, Sagar Adani, regarding allegations of bribery. The SEC is suing them for engaging in hundreds of millions of dollars in bribes to assist an Adani company with a bond offering. The Adani Group has denied the charges and stated that they are baseless. Gautam and Sagar Adani have also been accused of participating in a $265 million scheme to bribe Indian officials for power-supply contracts. The Adani Group's market value has been significantly affected by these allegations.

Adani is said to plan raising $1.2 billion for flagship firm

Livemint

Livemint · 11m ago

Adani is said to plan raising $1.2 billion for flagship firm

Adani Enterprises Ltd, the flagship firm of Indian billionaire Gautam Adani, is reportedly considering raising around $1.2 billion to $1.4 billion through a share sale. The company may opt for a qualified institutional placement (QIP), with the fundraising potentially taking place in September. Adani Group is seeking institutional investors, particularly from the US, to expand its shareholder base and attract more research analysts. Details of the share sale, including size and timing, are yet to be finalized. The potential fundraising comes after Adani Energy Solutions Ltd recently raised $1.13 billion through a share sale.

TotalEnergies pauses business with Adani, says it was not aware of US probe

VCCircle

VCCircle · 8m ago

TotalEnergies pauses business with Adani, says it was not aware of US probe

French oil company TotalEnergies has announced that it will suspend its financial contributions to Adani Group investments amid an ongoing US investigation into possible bribery and corruption at Adani Green Energy. Total holds a 20% stake in Adani Green Energy and claims it was not made aware of the investigation. Last week, US prosecutors charged eight individuals, including Indian tycoon Gautam Adani, with making improper payments to Indian officials for business advantages. TotalEnergies has described its relationship with Adani as a "strategic alliance" and estimates its financial exposure to Adani firms at around $4-5 billion.

Gautam Adani plans mega entry into Delhi-NCR with Jaypee real estate bid

Livemint

Livemint · 12m ago

Gautam Adani plans mega entry into Delhi-NCR with Jaypee real estate bid

The Adani group is planning to bid for bankrupt Jaypee group's real estate assets, including apartment complexes, villas, and golf courses in the National Capital Region. The acquisition, estimated to be around $1 billion, would allow Adani to expand its real estate business four-fold. The move aims to capitalize on the growing demand for real estate in the region and establish Adani as a significant player in India's real estate market. The bid will be part of a resolution package offered to creditors in the insolvency proceedings of Jaiprakash Associates Ltd, the flagship company of Jaypee Group.

WestBridge showcase investment headed towards $1 bn exit

VCCircle

VCCircle · 8m ago

WestBridge showcase investment headed towards $1 bn exit

WestBridge Capital, a private equity firm, is set to exit its showcase portfolio investment for nearly $1 billion. The firm specializes in backing unlisted companies and making private investments in public equities. With a track record of successful exits, including full and partial ones, WestBridge Capital is well-positioned in the market.

Abu Dhabi, Qatar wealth funds back Adani Energy's share sale of up to $1 bn

VCCircle

VCCircle · 12m ago

Abu Dhabi, Qatar wealth funds back Adani Energy's share sale of up to $1 bn

Abu Dhabi Investment Authority and Qatar Investment Authority have reportedly invested in Adani Energy Solutions' share sale in India, supporting the company with up to $1 billion. This marks Adani Group's first equity fundraising since a previous $2.5 billion share sale was cancelled due to accusations of offshore tax havens and stock manipulation. The recent investment is expected to aid Adani in recovering from the sell-off that occurred after the accusations were made. The share sale by Adani Energy, the power transmission and distribution company, raised funds through a Qualified Institutional Placement.

Mr Adani was misquoted about retirement and heirs: Adani Group

Inshorts · 11m ago

Mr Adani was misquoted about retirement and heirs: Adani Group

Gautam Adani, chairman of Adani Enterprises, discussed succession planning in a Bloomberg interview, emphasising it should be gradual and systematic. The $213 billion company clarified that Adani was misquoted regarding his heirs and their stakes in the family trust. Adani didn’t specify a succession timeline, contrary to media reports suggesting his retirement and control transfer by early 2030s.

Gautam Adani ‘bribery’ case: How the troubles began since Hindenburg allegations — a timeline | Company Business News

Livemint

Livemint · 8m ago

Gautam Adani ‘bribery’ case: How the troubles began since Hindenburg allegations — a timeline | Company Business News

The Securities and Exchange Commission (SEC) has charged Adani Group Chairman Gautam Adani and his nephew Sagar Adani, among others, with involvement in a multi-billion-dollar bribery and fraud scheme. The SEC alleges that Adani Green Energy and Azure Power raised funds from US investors, promising bribes to Indian government officials to secure solar energy contracts. This comes after a report by US-based short seller Hindenburg Research alleged stock manipulation and accounting fraud by the Adani Group, leading to significant market value losses. Adani Enterprises also saw a drop in share price and Gautam Adani's net worth.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Kiko Live launches food-only buye ...

Crypto app CoinDCX hit by cyberat ...

Zomato parent Eternal grants stoc ...

Download the medial app to read full posts, comements and news.