Gautam Adani
Chairman, Adani GroupBirth DetailsJune 24, 1962 | Ahmedabad, India
NationalityIndian
LeagueEntrepreneur
EducationB.Com, Gujarat University (Dropout)
Net Worth$15.7 billion (as of September 10, 2019)
Gautam Adani's Assets:
Gautam Adani's Journey so far ...
Before you go ...
- Adani Transmissions Limited
- Adani Power Limited
- Adani Ports and Special Economic Zone
- Adani Enterprises Limited
Gautam Adani's Journey so far ...
- Gautam Shantilal Adani’s business journey began when he dropped out of college and moved to Mumbai to gain some real-life work experience
- He started off as a diamond sorter at Mahendra Brothers, and within a few years set up his own diamond brokerage firm in Mumbai’s Zaveri Bazaar
- After a short stint in Mumbai, he returned to Ahmedabad to work with his brother in the latter’s plastic factory. It was here that he ventured into global trading by making the decision to import PVC (polyvinyl chloride) which was widely used to manufacture plastic
- Growth in the PVC import business continued and in 1988, Adani Group was officially established with interests in power and agricultural commodities
- Thanks to the 1991 economic reforms, Adani’s business soon diversified and became a multinational conglomerate
- The year 1995 marked a big success for Adani when his company bagged the contract for operating the Mundra port which went on to become India’s largest private-sector port
- Adani furthered his diversification endeavours with the incorporation of Adani Power Ltd. in 1996. A decade later, the company entered the power generation business and currently is the largest private thermal power producer in India
- Today, the Adani Group is a global conglomerate with interests in power, renewables, gas distribution, logistics and real estate among others. While Gautam Adani’s businesses have combined revenues of around $11 billion, he himself is one of the wealthiest individuals of India
Before you go ...
- According to reports, Adani was allegedly kidnapped in 1998
- He was also one of the survivors of the 2008 Mumbai terrorist attack on the Taj Mahal Palace hotel
Last Updated: 15/02/2021
Gautam Adani News
- View: Adani will rejoice as Hindenburg case inquiry now turns to Kotak"Now that the SEBI inquiry has gone in the wrong direction, and Hindenburg has dared the watchdog by bringing up Kotak’s name, Adani can go in search of new infrastructure deals — from transport and energy to data centers and building materials. I’m pretty sure he won’t be asking Kotak Mahindra to pony up money."
- Foxconn’s Bharat FIH is facing turbulence due to top-level exitsFoxconn group company Bharat FIH is in a rough spot, with three of its independent directors having exited its board in the past three months. Interglobe Aviation chairman Venkataramani Sumantran, Sify Technologies cofounder Ramaraj R and former IT and telecom secretary Aruna Sundararajan have resigned. Sources cited the company’s lack of direction as the main reason for the resignations.
- Bharat FIH plans factory reset on board, order woesFoxconn group's Bharat FIH is facing challenges as it loses key directors and considers closing its Sri City facility due to reduced orders from Xiaomi, its main client. The company's dependence on Xiaomi has led to a decline, with industry watchers noting a lack of diversification. Bharat FIH struggles to pivot to other sectors and compete with PLI benefits offered to competitors like Dixon.
- Tamil Nadu govt launches probe into coal import scam allegedly involving Adani groupTamil Nadu govt authorizes DVAC probe into multi-crore coal import scam involving Adani group, focusing on irregularities in tender conditions by Tangedco. Investigation initiated due to alleged substantial losses, complaint by Arappor Iyakkam under Section 17A. DVAC acts under Prevention of Corruption Act based on complaint by private body. Clearance granted for inquiry into corruption allegations, sanctions under Prevention of Corruption Act.
- India asks utilities to order $33 billion in equipment this year to boost coal power outputIndia's government plans a $33 billion equipment order to accelerate coal-fired power capacity additions amid soaring electricity demand. Major firms like NTPC and Adani Power are expected to lead tendering, aiming to add 31 GW in 5-6 years. The move follows record-high power demand and recent supply challenges, prompting urgent action to bolster infrastructure.
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Fresh twist: Hindenburg gets Sebi notice for ‘shorting Adani shares’Hindenburg termed the Sebi’s notice, dated June 26, as “nonsense, concocted to serve a pre-ordained purpose, an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India”. Apart from the research firm, its founder Nathan Anderson, Mark E Kingdon, Kingdon Capital Management, Kingdon Offshore Master Fund and K- India Opportunities Fund (KIOF) - Class F, too, were served the notice.K-Drama on D-Street! Kotak Mahindra Bank on Hindenburg hitlist after AdaniUS-based activist investor Hindenburg Research has once again opened its mouth on the Adani controversy but the target this time is Kotak Mahindra Bank and markets regulator Sebi. As a result, shares of the private sector lender fell up to 4% while Adani stocks were unaffected by the revelations made by the short-seller.Adani-Hindenburg Row: What are the allegations against US-based short-seller? What's the link with Kotak Mahindra?Hindenburg Research rebuts Sebi's allegations of collusion with Kingdon Capital Management in shorting Adani Group stocks. Sebi's 46-page notice claims Hindenburg's actions facilitated significant gains for Kingdon Capital, but Hindenburg dismisses these as baseless and accuses Sebi of neglecting investor protection. Kotak Mahindra Bank's alleged involvement adds to the controversy, with Sebi and Kotak yet to comment.Vizhinjam seaport gets its location codeThe Vizhinjam International Seaport in Kerala has achieved a significant milestone by receiving its location code, IN NYY 1, from the Indian government on June 21, 2024. Managed by Vizhinjam International Seaport Limited (VISL), this development was highlighted by Kerala's Ports Minister V N Vasavan in the state Assembly. The port's new code marks its readiness to operate as a major transshipment hub, enhancing logistical capabilities and fostering increased trade and economic activity in the region.Idea of Kotak as a party to Hindenburg’s Adani shorting strange and almost unbelievable: Shriram SubramanianShriram Subramanian gives his opinion on the saga involving Kotak Mahindra Bank, Hindenburg Research, and Sebi deepens with the emergence of a show cause notice and the potential for parallel investigations. Details reveal suspected violations, offshore fund structures, and ongoing Adani investigations, raising questions about the alleged role e of Kotak in the controversy.
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