Adani Group Races Ahead To Diversify And Foray Into Wider Businesses: 5 Points
- Chairman and billionaire Gautam Adani said on Friday his group companies would invest Rs 70,000 crore in Uttar Pradesh, which would help create around 30,000 jobs in the state.
- Adani Transmission Ltd (ATL) said it had signed definitive agreements with Essar Power to buy its Mahan-Sipat transmission line for Rs 1,913 crore.
- The group forayed into the cement sector by acquiring Swiss cement maker Holcim's India operations for a total of $10.5 billion. A day after announcing that deal to acquire Holcim's India business, the Adani family made an open offer to acquire a 26 per cent stake each in its two listed companies, Ambuja Cements and ACC Ltd, from public shareholders, priced at $6.5 billion.
- For its healthcare foray, the group reportedly has been in talks with big names in the sector and may invest up to $4 billion. Adani's group has created a new company to enter healthcare services by acquiring large hospitals, diagnostic chains, and offline and digital pharmacies.Â
- In a regulatory filing, Adani Enterprises Ltd - the group's business incubator firm, said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL), was incorporated on May 17, 2022. AVHL will "carry on the business of healthcare-related activities including, among other things, setting up, running, administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centres and to do all other allied and incidental activities in this regard," it said.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
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India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
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