Adani Foundation

INQ Holdings, SBI funds, Citigroup big buyers in Adani Energy's $1 bn QIP

A unit of Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup were the biggest buyers of shares in Adani group's power transmission unit's USD 1 billion QIP, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire Stanley Druckenmiller's family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a

Updated On : 04 Aug 2024 | 10:35 PM IST

Adani draws Rs 9.26 cr salary in FY24, lower than his executives, peers

India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives. Adani, 61, drew salary from only two out of the 10 companies in his ports-to-energy conglomerate, annual reports of the 10 listed entities of the group showed. His remuneration for 2023-24 from the group's flagship firm Adani Enterprises Ltd (AEL) included Rs 2.19 crore salary and perquisites, allowances and other benefits worth Rs 27 lakh. The total remuneration of Rs 2.46 crore was 3 per cent more than the previous financial year, according to AEL's 2023-24 annual report. Besides, he drew Rs 6.8 crore from Adani Ports and SEZ Ltd (APSEZ). Adani's salary is lower than heads of almost all large family-owned conglomerates in India. While the richest Indian, Mukesh Ambani has been foregoing his entire salary since Covid-19 broke out prior to which he had capped his remuneration at Rs 15 .

Updated On : 24 Jun 2024 | 1:10 AM IST

Disability sector can contribute $1 trn to economy by 2047, says expert

India's specially-abled population can actively contribute USD 1 trillion to the country's economy by 2047, according to a prominent Indian-American leader in the sector. Pranav Desai, the founder of the Voice of Specially Abled People, recently travelled to India and met top leaders of the ruling BJP in New Delhi including Finance Minister Nirmala Sitharaman and BJP president J P Nadda; the Gujarat Chief minister in Ahmedabad to present his vision document for the cause. He also travelled to Goa for a volunteer meeting. In an interview with PTI, Desai said that with proper strategy, policy and action, India's specially-abled population can actively contribute to the nation's economic growth, ultimately achieving a USD 1 trillion contribution to the disability sector by 2047 in Viksit Bharat. India can be a leader in this sector. My proposal was well received in New Delhi, Desai said, referring to his conversations with the top leadership in India. Desai said in his meeting with ..