The Adani group’s stock losses have narrowed to $14.7bn from about $33bn since the US indictments were levelled last week.
The US has indicted its billionaire chairman Gautam Adani for alleged bribery and fraud to win contracts for a group company, Adani Green Energy
Adani Energy, a power transmission and distribution company, raised funds through a Qualified Institutional Placement
Adani currently ranks 12 among the world’s richest
India now boasts 259 billionaires, a remarkable increase of 38 from the previous year
The tour showcased the infrastructure of India’s largest private port and the conglomerate’s strong financial conditions
With a $137.4bn fortune, Adani has overtaken France’s Bernard Arnault and now trails just Elon Musk and Jeff Bezos of the US in the ranking
Gautam Adani had overtaken Mukesh Ambani as Asia’s richest man a few months earlier
The three companies – AGEL, ATL and AEL – are part of the Adani Group’s green portfolio, and have core aspects of ESG woven into their operations