Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research.

Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men Gautam Adani - have lost a combined $48 billion in market value and US&nbsp;bonds of Adani firms have fallen since Hindenburg on Tuesday flagged concerns about debt levels and the use of tax havens.

"MSCI is closely monitoring publicly available information regarding the situation and the factors that may impact the eligibility of those relevant securities for the MSCI Global Investable Market Indexes," it said in a statement.

Adani Group did not immediately respond to Reuters request for comment. It has dismissed the Hindenburg report as baseless and said it was considering whether to take legal action against the New York-based firm.

India's capital markets&nbsp;regulator&nbsp;was studying the Hindenburg report as it may help its own probe into offshore fund holdings of Adani Group, Reuters reported on Friday.

Billionaire US&nbsp;investor&nbsp;Bill Ackman&nbsp;on Thursday described the Hindenburg report "highly credible and extremely well researched".

Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research.

Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men Gautam Adani - have lost a combined $48 billion in market value and US bonds of Adani firms have fallen since Hindenburg on Tuesday flagged concerns about debt levels and the use of tax havens. "MSCI is closely monitoring publicly available information regarding the situation and the factors that may impact the eligibility of those relevant securities for the MSCI Global Investable Market Indexes," it said in a statement. Adani Group did not immediately respond to Reuters request for comment. It has dismissed the Hindenburg report as baseless and said it was considering whether to take legal action against the New York-based firm. India's capital markets regulator was studying the Hindenburg report as it may help its own probe into offshore fund holdings of Adani Group, Reuters reported on Friday. Billionaire US investor Bill Ackman on Thursday described the Hindenburg report "highly credible and extremely well researched".

MSCI seeks feedback on Adani Group over Hindenburg report

The Adani Group shares are in a free fall declining for the second straight day after US short seller Hindenburg research is scathing reports on the conglomerates. The fall in the heavyweight shares weighed on broader Indian Benchmark indexes which have also plunged to three-month laws.

WION Dispatch: Adani Power and Wilmar shares hit lower bands

India's Adani Enterprise Ltd. is facing a share rout worth $48 bn after a report released by the U.S. short seller Hindenburg. The report has accused the empire of stock manipulation and corporate malpractice.

Adani Group's stocks listing on Indexes at risk

Shares of Indian firm&nbsp;Adani Enterprises sank nearly 20% on Friday after a scathing report by a U.S. short-seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.45 billion secondary sale.&nbsp;Seven listed companies of the Adani conglomerate — controlled by one of the world's richest men Gautam Adani — have lost a combined $45 billion in market capitalisation since Wednesday, with the U.S. bonds of Adani firms also falling after Hindenburg Research flagged concerns in a Jan. 24 report about debt levels and the use of tax havens.

The rout took shares of Adani Enterprises, the group's flagship company, well below the offer price of its secondary sale which kicked off on Friday.

The Securities and Exchange Board of India (SEBI), the country's capital markets regulator, is studying the Hindenburg report and may use it to aid its own ongoing probe into offshore fund holdings of Adani Group, two sources told Reuters. Spokespersons for the regulator had no immediate comment.

Adani Group has dismissed the Hindenburg report as baseless and said it is considering whether to take legal action against the New York-based firm. It did not immediately respond to a request for comment on the SEBI's investigations.

With a net worth of $97.6 billion, billionaire Gautam Adani is now the world's seventh richest man, according to Forbes, slipping from the third position he held before the Hindenburg report.

Adani met the county's power minister R.K. Singh on Friday in New Delhi, according to a source familiar with the matter. The agenda of the meeting was not immediately known.

The billionaire hails from the western state of Gujarat, the home state of Prime Minister Narendra Modi. The stunning market selloff has cast a shadow over Adani Enterprises' secondary share sale. The anchor portion of the sale saw participation from investors, including the Abu Dhabi Investment Authority, on Wednesday.

"There were heavy positions in Adani group (shares), the way they have risen in the last couple of years," said Neeraj Dewan, director at Quantum Securities in New Delhi.

"This is a classic case of panic selling," he said, noting the concerns were also spreading to Indian banks with exposure to Adani Group's debt.

The index tracking state-run banks slid 6.6%, while the main Nifty Bank index fell 3.5%.

CLSA estimates that Indian banks were exposed to about 40% of the Rs 2 trillion ($24.53 billion) of Adani Group debt in the fiscal year to March 2022.&nbsp;

As of 0818 GMT, investors, mostly retail, had bid for around 266,000 shares of Adani Enterprises, compared with the 45.5 million on offer, according to BSE exchange data. Bidding for retail investors will close on Jan. 31.

The share sale is being managed by Jefferies, India's SBI Capital Markets, Axis Capital, and ICICI Securities among others.

The firm has set a floor price of Rs 3,112&nbsp;($38.22) a share and a cap of Rs 3,276. But on Friday, the stock had slumped to as low as Rs 2,721.65&nbsp;— well below the lower end of the price offering.

Shares of other listed Adani firms also plummeted, with Adani Transmission Ltd, Adani Total Gas, Adani Green Energy and Adani Ports sinking 20% each.

"The sell-off is seriously extreme ... it has clearly dented the overall investor sentiment in the market," said Saurabh Jain, Assistant Vice-President, Research, at SMC Global Securities.

In its report, Hindenburg said key listed Adani Group companies had "substantial debt", putting the conglomerate on a "precarious financial footing", and that "sky-high valuations" had pushed the share prices of seven listed Adani companies as much as 85% beyond actual value.

Billionaire U.S. investor Bill Ackman said on Thursday that he found the Hindenburg report "highly credible and extremely well researched."

Hindenburg said it held short positions in Adani through its U.S.-traded bonds and non-Indian-traded derivative instruments, meaning it is betting that their price would fall.

Dollar bonds issued by entities of India's Adani Group tumbled on Friday.

Adani Group has repeatedly faced and dismissed concern about debt levels. It defended itself in a presentation titled "Myths of Short Seller" on Thursday, saying deleveraging by promoters — or key shareholders — was "in a high growth phase".

Jefferies in a client note said Adani Group had shared details of debt and leverage levels, and that it does not "see material risk arising to the Indian banking sector".

Adani Group's consolidated gross debt stood at Rs 1.9 trillion ($23.34 billion), Jefferies said.

Adani has said its debt is at a manageable level and that no investor has raised any concern.

The Adani conglomerate has been diversifying its business interests and last year it bought cement firms ACC and Ambuja Cements from Switzerland's Holcim for $10.5 billion. ACC stock was down 15% on Friday, while Ambuja plunged up to 25%.

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Shares of Indian firm Adani Enterprises sank nearly 20% on Friday after a scathing report by a U.S. short-seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.

Shares of Indian firm Adani Enterprises sank nearly 20% on Friday after a scathing report by a U.S. short-seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.45 billion secondary sale. Seven listed companies of the Adani conglomerate — controlled by one of the world's richest men Gautam Adani — have lost a combined $45 billion in market capitalisation since Wednesday, with the U.S. bonds of Adani firms also falling after Hindenburg Research flagged concerns in a Jan. 24 report about debt levels and the use of tax havens. The rout took shares of Adani Enterprises, the group's flagship company, well below the offer price of its secondary sale which kicked off on Friday. The Securities and Exchange Board of India (SEBI), the country's capital markets regulator, is studying the Hindenburg report and may use it to aid its own ongoing probe into offshore fund holdings of Adani Group, two sources told Reuters. Spokespersons for the regulator had no immediate comment. Adani Group has dismissed the Hindenburg report as baseless and said it is considering whether to take legal action against the New York-based firm. It did not immediately respond to a request for comment on the SEBI's investigations. With a net worth of $97.6 billion, billionaire Gautam Adani is now the world's seventh richest man, according to Forbes, slipping from the third position he held before the Hindenburg report. Adani met the county's power minister R.K. Singh on Friday in New Delhi, according to a source familiar with the matter. The agenda of the meeting was not immediately known. The billionaire hails from the western state of Gujarat, the home state of Prime Minister Narendra Modi. The stunning market selloff has cast a shadow over Adani Enterprises' secondary share sale. The anchor portion of the sale saw participation from investors, including the Abu Dhabi Investment Authority, on Wednesday. "There were heavy positions in Adani group (shares), the way they have risen in the last couple of years," said Neeraj Dewan, director at Quantum Securities in New Delhi. "This is a classic case of panic selling," he said, noting the concerns were also spreading to Indian banks with exposure to Adani Group's debt. The index tracking state-run banks slid 6.6%, while the main Nifty Bank index fell 3.5%. CLSA estimates that Indian banks were exposed to about 40% of the Rs 2 trillion ($24.53 billion) of Adani Group debt in the fiscal year to March 2022. As of 0818 GMT, investors, mostly retail, had bid for around 266,000 shares of Adani Enterprises, compared with the 45.5 million on offer, according to BSE exchange data. Bidding for retail investors will close on Jan. 31. The share sale is being managed by Jefferies, India's SBI Capital Markets, Axis Capital, and ICICI Securities among others. The firm has set a floor price of Rs 3,112 ($38.22) a share and a cap of Rs 3,276. But on Friday, the stock had slumped to as low as Rs 2,721.65 — well below the lower end of the price offering. Shares of other listed Adani firms also plummeted, with Adani Transmission Ltd, Adani Total Gas, Adani Green Energy and Adani Ports sinking 20% each. "The sell-off is seriously extreme ... it has clearly dented the overall investor sentiment in the market," said Saurabh Jain, Assistant Vice-President, Research, at SMC Global Securities. In its report, Hindenburg said key listed Adani Group companies had "substantial debt", putting the conglomerate on a "precarious financial footing", and that "sky-high valuations" had pushed the share prices of seven listed Adani companies as much as 85% beyond actual value. Billionaire U.S. investor Bill Ackman said on Thursday that he found the Hindenburg report "highly credible and extremely well researched." Hindenburg said it held short positions in Adani through its U.S.-traded bonds and non-Indian-traded derivative instruments, meaning it is betting that their price would fall. Dollar bonds issued by entities of India's Adani Group tumbled on Friday. Adani Group has repeatedly faced and dismissed concern about debt levels. It defended itself in a presentation titled "Myths of Short Seller" on Thursday, saying deleveraging by promoters — or key shareholders — was "in a high growth phase". Jefferies in a client note said Adani Group had shared details of debt and leverage levels, and that it does not "see material risk arising to the Indian banking sector". Adani Group's consolidated gross debt stood at Rs 1.9 trillion ($23.34 billion), Jefferies said. Adani has said its debt is at a manageable level and that no investor has raised any concern. The Adani conglomerate has been diversifying its business interests and last year it bought cement firms ACC and Ambuja Cements from Switzerland's Holcim for $10.5 billion. ACC stock was down 15% on Friday, while Ambuja plunged up to 25%. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India: Adani Group shares tank, rout touches $45 billion, clouding record share sale

The Adani Group shares are in a free fall declining for the second straight day after US seller Hindenburg research scaling report on the conglomerate.

India: Adani Group shares fall for second day; Adani Power, Wilmar shares hit lower bands

Shares of all 10 Adani Group stocks tanked after Hindenburg research report. The report revealed that it has been short-selling Adani Group companies through US-traded bonds and non-Indian-traded derivative instruments. Watch further to know more.

Adani group lost $7 Billion after shares tanked up to 10%

Ahead of the launch of the Rs 20,000 crore mega follow-on public offer (FPO) of Adani Enterprises, Adani Group shares lost up to 10% in Wednesday's trade.

Shares of all the 10 Adani group stocks trading lower

Hindenburg Research said on Wednesday it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels.&nbsp;The group, which is led by Gautam Adani, the world's third richest person according to Forbes, dismissed the U.S. short-seller's claims as baseless, saying it was timed to damage its reputation ahead of a large share offering.

The group's flagship firm, Adani Enterprises, will on Friday (January&nbsp;27) launch the country's biggest public secondary share offering, aiming to raise to&nbsp;$2.5 billion&nbsp;to fund capital expenditure and pay off some debt.

Hindenburg, known for having shorted electric truck maker Nikola Corp&nbsp;and Twitter, said it holds short positions in Adani companies through U.S.-traded bonds and non-Indian-traded derivative instruments.

Its research report questioned how the Adani Group has used offshore entities in tax havens like Mauritius and the Caribbean Islands.

It also said key listed Adani companies had "substantial debt" which has put the entire group on a "precarious financial footing", and asserted that shares in seven Adani listed companies have an 85% downside on a fundamental basis due to what it called "sky-high valuations".

Adani Group's Chief Financial Officer, Jugeshinder Singh, said in a statement the company was shocked by the report, calling it a "malicious combination of selective misinformation and stale, baseless and discredited allegations."

"The Group has always been in compliance with all laws," the company said, without addressing specific allegations made by Hindenburg.

"The timing of the report’s publication clearly betrays a brazen, mala fide intention to undermine the Adani Group’s reputation with the principal objective of damaging the upcoming follow-on Public Offering from Adani Enterprises," it added.

The report coincided with bidding for Adani's secondary share sale by anchor investors on Wednesday. Abu Dhabi Investment Authority and Morgan Stanley were among investors who bid for shares worth Rs 90 billion&nbsp;($1.1 billion), compared with Rs 60 billion worth of stock on offer,&nbsp;a source told Reuters.

The research report, Hindenburg said, was based on an investigation over two years that involved speaking with dozens of individuals, including former Adani Group executives as well as a review of documents.

India's capital markets regulator, the Securities and Exchange Board of India, did not immediately respond to a request for comment.

Adani has repeatedly dismissed debt concerns. Singh&nbsp;told media&nbsp;on Jan. 21, "Nobody has raised debt concerns to us. No single investor has."

Shares in Adani Ports And Special Economic Zone&nbsp;fell 6.3% while Adani Enterprises ended down 1.5%.

Hindenburg's report said five of seven key listed Adani companies have reported current ratios — a measure of liquid assets minus near-term liabilities — below 1. This, the short-seller said, suggested "a heightened short-term liquidity risk".

Adani Group's total gross debt in the financial year ended March 31, 2022, rose 40% to Rs 2.2 trillion.

Refinitiv data shows debt at Adani Group's seven key listed Adani companies exceeds equity, with debt at Adani Green Energy Ltd&nbsp;exceeding equity by more than 2,000%.

CreditSights, part of the Fitch Group, described the group last September as "overleveraged". While the report later corrected some calculation errors, CreditSights said it continued to be concerned about Adani Group's leverage.

Hindenburg also said it was concerned that a high proportion of equity held by promoters or key shareholders in Adani Group listed companies has been pledged for loans.

"Equity share pledges are an inherently unstable source of lending collateral," it said in the report.

Last year, the Adani Group bought cement firms ACC&nbsp;and Ambuja Cements&nbsp;from Switzerland's Holcim&nbsp;for $10.5 billion. Days later, it pledged shares in the two firms, worth about $12.5 billion at the time, to banks in a non-disposal agreement that prevents it from offloading the shares until lenders agree that debts are paid.

ACC and Ambuja both fell over 7% on Wednesday.

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Hindenburg Research said on Wednesday it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels.

Hindenburg Research said on Wednesday it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels. The group, which is led by Gautam Adani, the world's third richest person according to Forbes, dismissed the U.S. short-seller's claims as baseless, saying it was timed to damage its reputation ahead of a large share offering. The group's flagship firm, Adani Enterprises, will on Friday (January 27) launch the country's biggest public secondary share offering, aiming to raise to $2.5 billion to fund capital expenditure and pay off some debt. Hindenburg, known for having shorted electric truck maker Nikola Corp and Twitter, said it holds short positions in Adani companies through U.S.-traded bonds and non-Indian-traded derivative instruments. Its research report questioned how the Adani Group has used offshore entities in tax havens like Mauritius and the Caribbean Islands. It also said key listed Adani companies had "substantial debt" which has put the entire group on a "precarious financial footing", and asserted that shares in seven Adani listed companies have an 85% downside on a fundamental basis due to what it called "sky-high valuations". Adani Group's Chief Financial Officer, Jugeshinder Singh, said in a statement the company was shocked by the report, calling it a "malicious combination of selective misinformation and stale, baseless and discredited allegations." "The Group has always been in compliance with all laws," the company said, without addressing specific allegations made by Hindenburg. "The timing of the report’s publication clearly betrays a brazen, mala fide intention to undermine the Adani Group’s reputation with the principal objective of damaging the upcoming follow-on Public Offering from Adani Enterprises," it added. The report coincided with bidding for Adani's secondary share sale by anchor investors on Wednesday. Abu Dhabi Investment Authority and Morgan Stanley were among investors who bid for shares worth Rs 90 billion ($1.1 billion), compared with Rs 60 billion worth of stock on offer, a source told Reuters. The research report, Hindenburg said, was based on an investigation over two years that involved speaking with dozens of individuals, including former Adani Group executives as well as a review of documents. India's capital markets regulator, the Securities and Exchange Board of India, did not immediately respond to a request for comment. Adani has repeatedly dismissed debt concerns. Singh told media on Jan. 21, "Nobody has raised debt concerns to us. No single investor has." Shares in Adani Ports And Special Economic Zone fell 6.3% while Adani Enterprises ended down 1.5%. Hindenburg's report said five of seven key listed Adani companies have reported current ratios — a measure of liquid assets minus near-term liabilities — below 1. This, the short-seller said, suggested "a heightened short-term liquidity risk". Adani Group's total gross debt in the financial year ended March 31, 2022, rose 40% to Rs 2.2 trillion. Refinitiv data shows debt at Adani Group's seven key listed Adani companies exceeds equity, with debt at Adani Green Energy Ltd exceeding equity by more than 2,000%. CreditSights, part of the Fitch Group, described the group last September as "overleveraged". While the report later corrected some calculation errors, CreditSights said it continued to be concerned about Adani Group's leverage. Hindenburg also said it was concerned that a high proportion of equity held by promoters or key shareholders in Adani Group listed companies has been pledged for loans. "Equity share pledges are an inherently unstable source of lending collateral," it said in the report. Last year, the Adani Group bought cement firms ACC and Ambuja Cements from Switzerland's Holcim for $10.5 billion. Days later, it pledged shares in the two firms, worth about $12.5 billion at the time, to banks in a non-disposal agreement that prevents it from offloading the shares until lenders agree that debts are paid. ACC and Ambuja both fell over 7% on Wednesday. WATCH WION LIVE HERE:

Hindenburg shorts India's Adani Group, cites debt and accounting concerns

In southern India, over 80 individuals have been injured as a result of a clash between police and protesters who halted the construction of a $900 million port belonging to Asia's richest man, Adani.

the protesters forced workers to stop working at the&nbsp;Vizhinjam seaport.

In the recent clashes, hundreds of angry protesters stormed a police station&nbsp;with lethal weapons, damaging official vehicles, the police documents claim.&nbsp;

The construction has been halted for over three months after the villagers blocked the entrance for construction vehicles claiming that the activities are causing harm to their livelihoods, Reuters reported.&nbsp;

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Last week, police detained several protesters who were blocking the way. This prompted protesters for attacking the police station.&nbsp;

A senior police official claimed that 36 police officials have been severely wounded in this clash.

The protest has continued in the area despite repeated orders from Kerala's High Court to allow construction dismissing all claims by the protesters.&nbsp;

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Till now, Adnani Group has not addressed the situation officially but claims that the port complies with all laws and cited claims. The state government stated that any erosion that occurred happened due to natural causes.&nbsp;

The protest has brought worries for Asia's richest man Gautam Adani.&nbsp;Similar protests against the Adnani Group have occurred in Australia over his Carmichael coal mine. The activists there were concerned over carbon emissions and possible damage to the Great Barrier Reef forcing the group to halt its construction and delaying the project by six years.&nbsp;

(With inputs from agencies)

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In southern India, over 80 individuals have been injured as a result of a clash between police and protesters who halted the construction of a $900 million port belonging to Asia's richest man, Adani.

In southern India, over 80 individuals have been injured as a result of a clash between police and protesters who halted the construction of a $900 million port belonging to Asia's richest man, Adani. the protesters forced workers to stop working at the Vizhinjam seaport. In the recent clashes, hundreds of angry protesters stormed a police station with lethal weapons, damaging official vehicles, the police documents claim. The construction has been halted for over three months after the villagers blocked the entrance for construction vehicles claiming that the activities are causing harm to their livelihoods, Reuters reported. Also read | IRCTC cancels 147 trains today, check complete list, how to get refund, and cancellation charges Last week, police detained several protesters who were blocking the way. This prompted protesters for attacking the police station. A senior police official claimed that 36 police officials have been severely wounded in this clash. The protest has continued in the area despite repeated orders from Kerala's High Court to allow construction dismissing all claims by the protesters. Also read | India gets its first private rocket launchpad and mission control centre Till now, Adnani Group has not addressed the situation officially but claims that the port complies with all laws and cited claims. The state government stated that any erosion that occurred happened due to natural causes. The protest has brought worries for Asia's richest man Gautam Adani. Similar protests against the Adnani Group have occurred in Australia over his Carmichael coal mine. The activists there were concerned over carbon emissions and possible damage to the Great Barrier Reef forcing the group to halt its construction and delaying the project by six years. (With inputs from agencies) WATCH WION LIVE HERE

India: Hundreds of protesters clash with police over Adani's port project, 80 injured

Indian conglomerate&nbsp;Adani&nbsp;Group plans to buy Holcim AG's cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country's No. 2 cement manufacturer.

Adani&nbsp;Group, owned by billionaire Gautam&nbsp;Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy and real estate businesses.

Under the deal,&nbsp;Adani&nbsp;Group will pay $6.4 billion in cash to acquire Switzerland-based Holcim's 63.1 per cent&nbsp;stake in Ambuja Cements Ltd and 54.5 per cent&nbsp;holding in ACC Ltd, Holcim said in a statement announcing the deal late on Sunday. The rest of the companies' shares will be bought via an open offer,&nbsp;Adani&nbsp;said in a separate statement.

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"(We) will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion,"&nbsp;Adani&nbsp;said.

The deal, which was clinched after a fierce bidding war with the JSW Group and industry leader Ultratech Cement Ltd, is the second largest deal in India this year.

Shares in Ambuja jumped as much as 5.2 per cent&nbsp;to 377.70 rupees while ACC rose 8.3 per cent&nbsp;to a high of 2,287.70 rupees on Monday, but traded below the prices offered by&nbsp;Adani.

Ambuja's shares closed 2.5 per cent&nbsp;&nbsp;higher at 368 rupees compared with the offer price of 385 rupees. ACC's shares ended Monday 3.9 per cent&nbsp;&nbsp;higher at 2,196.20 rupees versus the offer price of 2,300 rupees.

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Gautam&nbsp;Adani, Asia's richest man, plans to fund the deal using an offshore special purpose vehicle owned by the&nbsp;Adani&nbsp;family, he told the Economic Times.

"The acquisition is fully funded by way of approved commitments from our relationship banks - Barclays, Deutsche Bank and Standard Chartered Bank - and equity infusion from the&nbsp;Adani&nbsp;family," he was quoted as saying.

The divestment by Holcim marks the Swiss company's latest effort to reduce exposure to carbon-intensive cement production and boost its environmental, social and corporate governance (ESG) credentials.

Holcim has also been selling units outside North America and Europe in a bid to sharpen its focus on key markets and diversify into building product areas like roofing. The company sold its Brazilian operation for $1 billion last year.

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Ambuja and ACC combined have the capacity to produce at least 70 million tonnes of cement annually, while UltraTech Cement boasts capacity of 120 million tonnes. Together, Ambuja and ACC own 31 cement making facilities and employ over 10,700 people.

The transaction is expected to close in the second half of 2022, Holcim said.

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Indian conglomerate Adani Group plans to buy Holcim AG's cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country's No. 2 cement manufacturer.

Indian conglomerate Adani Group plans to buy Holcim AG's cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country's No. 2 cement manufacturer. Adani Group, owned by billionaire Gautam Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy and real estate businesses. Under the deal, Adani Group will pay $6.4 billion in cash to acquire Switzerland-based Holcim's 63.1 per cent stake in Ambuja Cements Ltd and 54.5 per cent holding in ACC Ltd, Holcim said in a statement announcing the deal late on Sunday. The rest of the companies' shares will be bought via an open offer, Adani said in a separate statement. Also read | Talks of all-cash deal between Adani and Zee Media utterly false and baseless "(We) will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion," Adani said. The deal, which was clinched after a fierce bidding war with the JSW Group and industry leader Ultratech Cement Ltd, is the second largest deal in India this year. Shares in Ambuja jumped as much as 5.2 per cent to 377.70 rupees while ACC rose 8.3 per cent to a high of 2,287.70 rupees on Monday, but traded below the prices offered by Adani. Ambuja's shares closed 2.5 per cent higher at 368 rupees compared with the offer price of 385 rupees. ACC's shares ended Monday 3.9 per cent higher at 2,196.20 rupees versus the offer price of 2,300 rupees. Watch | Dollar holds gains as investors seek safety, crypto markets find stability Gautam Adani, Asia's richest man, plans to fund the deal using an offshore special purpose vehicle owned by the Adani family, he told the Economic Times. "The acquisition is fully funded by way of approved commitments from our relationship banks - Barclays, Deutsche Bank and Standard Chartered Bank - and equity infusion from the Adani family," he was quoted as saying. The divestment by Holcim marks the Swiss company's latest effort to reduce exposure to carbon-intensive cement production and boost its environmental, social and corporate governance (ESG) credentials. Holcim has also been selling units outside North America and Europe in a bid to sharpen its focus on key markets and diversify into building product areas like roofing. The company sold its Brazilian operation for $1 billion last year. Also read | Fake news: Tweet on Zee Media-Adani Group deal is false and baseless Ambuja and ACC combined have the capacity to produce at least 70 million tonnes of cement annually, while UltraTech Cement boasts capacity of 120 million tonnes. Together, Ambuja and ACC own 31 cement making facilities and employ over 10,700 people. The transaction is expected to close in the second half of 2022, Holcim said. WATCH WION LIVE HERE:

Adani to become India's No. 2 cement maker with $10.5 billion Holcim deal

The Zee Media group has out-rightly rejected all the rumour being circulated in the media of any acquisition deal between Adani Group and Dr Subhash Chandra.

News of talks between Gautam Adani and Subhash Chandra related to the acquisition of Zee Media by Adani Enterprises in an all-cash deal is false, said the Zee Media management.&nbsp;

"In the greater interest of the public and the minority stakeholders, we would like to reiterate and clarify that no such agreement is there between Mr Gautam Adani and Dr Subhash Chandra," said Ronak Jatwala, official spokesperson for the company.&nbsp;

He added, "These speculations are leading to some unwarranted stock trading, and we sense a mal-intent behind this."

Meanwhile, Zee Media has demanded that there should be a probe by the Securities and Exchange Board of India into the matter and the culprits are penalised.&nbsp;

Zee Media further highlighted that the promoter group has in fact its stake in the company recently via share warrant.

A couple of days ago, a fake report was being passed by a Twitter user by the name of Anurag Chaturvedi said that there was an agreement between Zee Media and Adani Enterprises and that Adani Group has bought a stake in Zee Media in an all-cash deal. The claim was out-rightly rejected by Zee Media company management.

The Zee Media group has out-rightly rejected all the rumour being circulated in the media of any acquisition deal between Adani Group and Dr Subhash Chandra. News of talks between Gautam Adani and Subhash Chandra related to the acquisition of Zee Media by Adani Enterprises in an all-cash deal is false, said the Zee Media management.

The Zee Media group has out-rightly rejected all the rumour being circulated in the media of any acquisition deal between Adani Group and Dr Subhash Chandra. News of talks between Gautam Adani and Subhash Chandra related to the acquisition of Zee Media by Adani Enterprises in an all-cash deal is false, said the Zee Media management. "In the greater interest of the public and the minority stakeholders, we would like to reiterate and clarify that no such agreement is there between Mr Gautam Adani and Dr Subhash Chandra," said Ronak Jatwala, official spokesperson for the company. He added, "These speculations are leading to some unwarranted stock trading, and we sense a mal-intent behind this." Meanwhile, Zee Media has demanded that there should be a probe by the Securities and Exchange Board of India into the matter and the culprits are penalised. Zee Media further highlighted that the promoter group has in fact its stake in the company recently via share warrant. A couple of days ago, a fake report was being passed by a Twitter user by the name of Anurag Chaturvedi said that there was an agreement between Zee Media and Adani Enterprises and that Adani Group has bought a stake in Zee Media in an all-cash deal. The claim was out-rightly rejected by Zee Media company management.

Talks of all-cash deal between Adani and Zee Media utterly false and baseless

A tweet falsely claims that a deal took place between Zee Media and Adani Group.

The fake news report has been going viral on social media, however, it is a blatant lie. The report is completely baseless.

The top management of Zee Media has strongly refuted this fake and false tweet because no such deal took place with the Adani group.&nbsp;

"We completely refute any such rumour being spread by some journalist around talks between Dr. Subhash Chandra and Gautam Adani related to Zee Media. There is no talk between both groups. This is false news," confirmed Ronak Jatwala, official spokesperson of the&nbsp;company.

Here is the tweet:-

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Gautam Adani and Subhash Chandra enter in to an exclusive agreement . Adani enterprise to acquire Zee media in an all cash deal at Rs 30 per share. Sanjay Pugalia to be CEO of Zee news.
— Anurag Chaturvedi (@AnuragC1106) <a href="https://twitter.com/AnuragC1106/status/1481100208100773891?ref_src=twsrc%5Etfw">January 12, 2022</a></blockquote>
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The Zee Media management has asked people not to believe such rumours as there has been no dialogue between the two groups.

The tweet said Gautam Adani and Essel Group Chairman Subhash Chandra had entered into&nbsp;an exclusive agreement. However, this is completely baseless and the news is fake.

A tweet falsely claims that a deal took place between Zee Media and Adani Group. The fake news report has been going viral on social media, however, it is a blatant lie.

A tweet falsely claims that a deal took place between Zee Media and Adani Group. The fake news report has been going viral on social media, however, it is a blatant lie. The report is completely baseless. The top management of Zee Media has strongly refuted this fake and false tweet because no such deal took place with the Adani group. "We completely refute any such rumour being spread by some journalist around talks between Dr. Subhash Chandra and Gautam Adani related to Zee Media. There is no talk between both groups. This is false news," confirmed Ronak Jatwala, official spokesperson of the company. Here is the tweet:- Gautam Adani and Subhash Chandra enter in to an exclusive agreement . Adani enterprise to acquire Zee media in an all cash deal at Rs 30 per share. Sanjay Pugalia to be CEO of Zee news. — Anurag Chaturvedi (@AnuragC1106) January 12, 2022 × The Zee Media management has asked people not to believe such rumours as there has been no dialogue between the two groups. The tweet said Gautam Adani and Essel Group Chairman Subhash Chandra had entered into an exclusive agreement. However, this is completely baseless and the news is fake.

Fake news: Tweet on Zee Media-Adani Group deal is false and baseless

Two protestors on Friday barged into the Sydney Cricket Ground, where the first ODI between India and Australia is being played. The protestors carried placard against Adani Group which read “NO $1B ADANI LOAN”.&nbsp;

The front of the protestors’ T-shirt displayed “StopAdani” while the back read “Stop Coal”. #StopAdani Take Action.”. The protestors during India vs Australia 1st ODI were denouncing India’s Adani Group’s coal project in Australia.

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Stop <a href="https://twitter.com/hashtag/Adani?src=hash&amp;ref_src=twsrc%5Etfw">#Adani</a> protest at the cricket - calling on State Bank of India not to fund Adani's Australian coal mine to the tune of $1 billion (following recent media reporting that this deal is currently underway) <a href="https://twitter.com/hashtag/AUSvIND?src=hash&amp;ref_src=twsrc%5Etfw">#AUSvIND</a> <a href="https://t.co/KBORZ7gXKJ">https://t.co/KBORZ7gXKJ</a>
— Sophie McNeill (@Sophiemcneill) <a href="https://twitter.com/Sophiemcneill/status/1332197383275364353?ref_src=twsrc%5Etfw">November 27, 2020</a></blockquote>
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One of them intruded into the stadium and ran close to the pitch when Indian pacer Navdeep Saini was gearing up for his run-up to the bowl the sixth over of the Australian inning.

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/ishant-sharma-out-of-australia-series-as-kohli-blasts-confusing-messages-345736" hreflang="en">Ishant Sharma out of Australia series as Kohli blasts 'confusing' messages</a>

<h2>WATCH VIDEO:&nbsp;‘No $1BN Adani Loan’ - Protesters enter ground holding banner against Adani Group</h2>

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BREAKING: Brave cricket fans and <a href="https://twitter.com/hashtag/StopAdani?src=hash&amp;ref_src=twsrc%5Etfw">#StopAdani</a> supporters have disrupted play at the <a href="https://twitter.com/hashtag/AUSvIND?src=hash&amp;ref_src=twsrc%5Etfw">#AUSvIND</a> Cricket match to draw attention to a potential $1B loan of Indian taxpayers’ money for Adani’s climate wrecking coal mine. Tell <a href="https://twitter.com/TheOfficialSBI?ref_src=twsrc%5Etfw">@TheOfficialSBI</a> to stop the loan to billionaire <a href="https://twitter.com/hashtag/Adani?src=hash&amp;ref_src=twsrc%5Etfw">#Adani</a>! <a href="https://t.co/ibf3hpESdY">pic.twitter.com/ibf3hpESdY</a>
— Stop Adani (@stopadani) <a href="https://twitter.com/stopadani/status/1332198282588655621?ref_src=twsrc%5Etfw">November 27, 2020</a></blockquote>
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WATCH: Video of two <a href="https://twitter.com/hashtag/StopAdani?src=hash&amp;ref_src=twsrc%5Etfw">#StopAdani</a> supporters taking the grounds to protest <a href="https://twitter.com/TheOfficialSBI?ref_src=twsrc%5Etfw">@TheOfficialSBI</a>'s plans to give <a href="https://twitter.com/AdaniOnline?ref_src=twsrc%5Etfw">@AdaniOnline</a> a $1bn (5000 crore) Indian taxpayer loan for Adani's Carmichael coal project <a href="https://twitter.com/hashtag/AUSvIND?src=hash&amp;ref_src=twsrc%5Etfw">#AUSvIND</a> <a href="https://t.co/NhY3vPN0HM">pic.twitter.com/NhY3vPN0HM</a>
— Stop Adani (@stopadani) <a href="https://twitter.com/stopadani/status/1332207621252603909?ref_src=twsrc%5Etfw">November 27, 2020</a></blockquote>
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ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/australia-rate-will-pucovski-highly-but-he-may-need-to-bide-his-time-justin-langer-345343" hreflang="en">Australia rate Will Pucovski highly but he may need to bide his time: Justin Langer</a>

The duo was taken out by the security. Surprisingly, the security looked slow and rusty and took time before intervening – raising question marks over the security arrangements for the high-profile series.

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Stop Adani protesters run onto the field and stop play. 
 
Security took about five minutes to realise they were trespassing and weren’t players. <a href="https://twitter.com/hashtag/AUSvIND?src=hash&amp;ref_src=twsrc%5Etfw">#AUSvIND</a> <a href="https://t.co/wLBgdeLlqu">pic.twitter.com/wLBgdeLlqu</a>
— Lachlan McKirdy (@LMcKirdy7) <a href="https://twitter.com/LMcKirdy7/status/1332176048989949952?ref_src=twsrc%5Etfw">November 27, 2020</a></blockquote>
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“We’ve got a couple of pitch invaders protesting about something,” Adam Gilchrist said on Fox Sports. “We’ll wait for security to come and get them and remove them. We don’t see any urgency from security at the moment.” 
Some protestors, going by the name Stop Adani, were spotted outside the Sydney Cricket Ground before the match started.&nbsp;

“Millions of Indian taxpayers who are watching the first game of the Indian cricket tour have a right to know that the State Bank of India is considering handing their taxes to a billionaire’s climate-wrecking coal mine,” a statement from Stop Adani read.

Cricket Australia has allowed entry of supporters in half-capacity for the ODI series with SCG operating at 50 per cent. 
&nbsp;

Two protestors on Friday barged into the Sydney Cricket Ground, where the first ODI between India and Australia is being played. The protestors carried placard against Adani Group which read “NO $1B ADANI LOAN”.

Two protestors on Friday barged into the Sydney Cricket Ground, where the first ODI between India and Australia is being played. The protestors carried placard against Adani Group which read “NO $1B ADANI LOAN”. The front of the protestors’ T-shirt displayed “StopAdani” while the back read “Stop Coal”. #StopAdani Take Action.”. The protestors during India vs Australia 1st ODI were denouncing India’s Adani Group’s coal project in Australia. Stop #Adani protest at the cricket - calling on State Bank of India not to fund Adani's Australian coal mine to the tune of $1 billion (following recent media reporting that this deal is currently underway) #AUSvIND https://t.co/KBORZ7gXKJ — Sophie McNeill (@Sophiemcneill) November 27, 2020 × One of them intruded into the stadium and ran close to the pitch when Indian pacer Navdeep Saini was gearing up for his run-up to the bowl the sixth over of the Australian inning. ALSO READ: Ishant Sharma out of Australia series as Kohli blasts 'confusing' messages WATCH VIDEO: ‘No $1BN Adani Loan’ - Protesters enter ground holding banner against Adani Group BREAKING: Brave cricket fans and #StopAdani supporters have disrupted play at the #AUSvIND Cricket match to draw attention to a potential $1B loan of Indian taxpayers’ money for Adani’s climate wrecking coal mine. Tell @TheOfficialSBI to stop the loan to billionaire #Adani! pic.twitter.com/ibf3hpESdY — Stop Adani (@stopadani) November 27, 2020 × WATCH: Video of two #StopAdani supporters taking the grounds to protest @TheOfficialSBI's plans to give @AdaniOnline a $1bn (5000 crore) Indian taxpayer loan for Adani's Carmichael coal project #AUSvIND pic.twitter.com/NhY3vPN0HM — Stop Adani (@stopadani) November 27, 2020 × ALSO READ: Australia rate Will Pucovski highly but he may need to bide his time: Justin Langer The duo was taken out by the security. Surprisingly, the security looked slow and rusty and took time before intervening – raising question marks over the security arrangements for the high-profile series. Stop Adani protesters run onto the field and stop play. Security took about five minutes to realise they were trespassing and weren’t players. #AUSvIND pic.twitter.com/wLBgdeLlqu — Lachlan McKirdy (@LMcKirdy7) November 27, 2020 × “We’ve got a couple of pitch invaders protesting about something,” Adam Gilchrist said on Fox Sports. “We’ll wait for security to come and get them and remove them. We don’t see any urgency from security at the moment.” Some protestors, going by the name Stop Adani, were spotted outside the Sydney Cricket Ground before the match started. “Millions of Indian taxpayers who are watching the first game of the Indian cricket tour have a right to know that the State Bank of India is considering handing their taxes to a billionaire’s climate-wrecking coal mine,” a statement from Stop Adani read. Cricket Australia has allowed entry of supporters in half-capacity for the ODI series with SCG operating at 50 per cent.

IND vs AUS 1st ODI: ‘No $1BN Adani Loan’ - Protesters enter ground holding banner against Adani Group

A court in Ahmedabad has issued summons to The Wire news portal on a criminal defamation petition filed by the Adani Group for an article published by it last December. Summonses were issued on Tuesday to seven respondents in the case, including the author of the article as well as five editors and the not-for-profit organisation that publishes The Wire.&nbsp

They have been asked by metropolitan magistrate S K Gadhavi to respond to the summonses on April 27, when the court will next hear the case.

In its petition, filed under sections 499 and 500 of the IPC, alleging criminal defamation, the Adani Group said that the article in question was published on December 11, 2017 “with the sole intention of harming the reputation of the complainant (Adani Power Maharashtra Limited)”.

The article is intended to create “cheap publicity”, smacks of “distaste, prejudice and malice against the complainant”, and is a result of a “well-thought-out conspiracy” to tarnish the image.

Summonses were issued on Tuesday to seven respondents in the case, including the author of the article as well as five editors and the not-for-profit organisation that publishes The Wire.

A court in Ahmedabad has issued summons to The Wire news portal on a criminal defamation petition filed by the Adani Group for an article published by it last December. Summonses were issued on Tuesday to seven respondents in the case, including the author of the article as well as five editors and the not-for-profit organisation that publishes The Wire. They have been asked by metropolitan magistrate S K Gadhavi to respond to the summonses on April 27, when the court will next hear the case. In its petition, filed under sections 499 and 500 of the IPC, alleging criminal defamation, the Adani Group said that the article in question was published on December 11, 2017 “with the sole intention of harming the reputation of the complainant (Adani Power Maharashtra Limited)”. The article is intended to create “cheap publicity”, smacks of “distaste, prejudice and malice against the complainant”, and is a result of a “well-thought-out conspiracy” to tarnish the image.

Court issues summons to The Wire in defamation case filed by Adani Group

A group of prominent Australians Thursday urged India&#39;s Adani Enterprises to abandon a giant coal mine project near the Great Barrier Reef, warning it could damage bilateral ties and even affect sporting links.

The controversial Aus$21.7 billion (US$16 billion) Carmichael mine -- destined to be one of the world&#39;s biggest -- is set to start construction this year after being given the green light by the federal and Queensland state governments.

It still faces several ongoing legal challenges, with a final investment decision by Adani reportedly pending.

In a letter to Adani chairman Gautam Adani, due to be hand-delivered Thursday by businessman and environmentalist Geoffrey Cousins, the 90 Australians urged him to reconsider.

Signatories include former Australian Test cricket captains Ian and Greg Chappell, Pulitzer Prize-winning author Geraldine Brooks, Australian-based British comedian Ben Elton, and rock group Midnight Oil.

It cites public opposition, risks to miners&#39; health, the potential impact on the World Heritage-listed reef, which is already suffering from climate change, and India&#39;s reputation as reasons not to proceed.

&quot;We urge you to think about global warming and public health and listen to the wishes of the people,&quot; said the letter, designed to counter a visit to Adani headquarters by Queensland Premier Annastacia Palaszczuk this week.

&quot;It would be a great shame if this one project were to damage the image of India in Australia.

&quot;We understand the Adani Group has not made a final investment decision on the Carmichael coal mine. We strongly urge you to decide to abandon this project.&quot;

Ian Chappell suggested it could also hurt sporting ties, with the two nations arch cricketing rivals who are currently involved in a fiery Test series in India.

&quot;Cricket has a bit to do with the feeling between India and Australia,&quot; he told the Australian Broadcasting Corporation. &quot;The thought that this (mine) could affect the relationship, hopefully that&#39;ll get through.&quot;

The development proposes exporting coal to India via a massive open-cut and underground coal mine 160 kilometres (100 miles) northwest of Clermont in central Queensland, and a 189-kilometre rail link to port.

Adani forecasts it will produce 60 million tonnes of thermal coal a year for export with its Australia chief Jeyakumar Janakaraj in December insisting it would have a &quot;net positive impact on climate change in the world&quot;.

&quot;India is a large consumer of coal either way. So if Australia doesn&#39;t produce and give India high-quality, highly sustainable mining, it is going to rely on coal that will come from lesser reliable geographies,&quot; he said. 
 
(AFP)

 
&nbsp;

The USD 16 billion Carmichael coal mine project, one of the world's largest, is set to start construction this year

A group of prominent Australians Thursday urged India's Adani Enterprises to abandon a giant coal mine project near the Great Barrier Reef, warning it could damage bilateral ties and even affect sporting links. The controversial Aus$21.7 billion (US$16 billion) Carmichael mine -- destined to be one of the world's biggest -- is set to start construction this year after being given the green light by the federal and Queensland state governments. It still faces several ongoing legal challenges, with a final investment decision by Adani reportedly pending. In a letter to Adani chairman Gautam Adani, due to be hand-delivered Thursday by businessman and environmentalist Geoffrey Cousins, the 90 Australians urged him to reconsider. Signatories include former Australian Test cricket captains Ian and Greg Chappell, Pulitzer Prize-winning author Geraldine Brooks, Australian-based British comedian Ben Elton, and rock group Midnight Oil. It cites public opposition, risks to miners' health, the potential impact on the World Heritage-listed reef, which is already suffering from climate change, and India's reputation as reasons not to proceed. "We urge you to think about global warming and public health and listen to the wishes of the people," said the letter, designed to counter a visit to Adani headquarters by Queensland Premier Annastacia Palaszczuk this week. "It would be a great shame if this one project were to damage the image of India in Australia. "We understand the Adani Group has not made a final investment decision on the Carmichael coal mine. We strongly urge you to decide to abandon this project." Ian Chappell suggested it could also hurt sporting ties, with the two nations arch cricketing rivals who are currently involved in a fiery Test series in India. "Cricket has a bit to do with the feeling between India and Australia," he told the Australian Broadcasting Corporation. "The thought that this (mine) could affect the relationship, hopefully that'll get through." The development proposes exporting coal to India via a massive open-cut and underground coal mine 160 kilometres (100 miles) northwest of Clermont in central Queensland, and a 189-kilometre rail link to port. Adani forecasts it will produce 60 million tonnes of thermal coal a year for export with its Australia chief Jeyakumar Janakaraj in December insisting it would have a "net positive impact on climate change in the world". "India is a large consumer of coal either way. So if Australia doesn't produce and give India high-quality, highly sustainable mining, it is going to rely on coal that will come from lesser reliable geographies," he said. (AFP)

Chappell brothers urge Adani to give up Australia mine project for environment

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