New Delhi: Industrialist Gautam Adani’s Adani Group was earlier identified for energy and ports. Now additionally it is quickly coming into sectors like actual property, cement, FMCG, media. It has a particular technique to develop quickly. That’s to purchase bankrupt firms and revive them. Because the battle with Patanjali for Ruchi Soya in 2018, Adani has acquired many firms underneath the Insolvency and Chapter Code (IBC). This sequence began when Adani Wilmar tried to purchase bankrupt edible oil firm Ruchi Soya. Nevertheless, Adani withdrew his proposal after a dispute within the bidding course of. Ultimately Patanjali acquired Ruchi Soya.
After this, Adani Energy purchased Avanta Group’s Korba West Energy Firm for Rs 2,900 crore. Then GMR Chhattisgarh Power was purchased for Rs 3,530 crore. This was adopted by the acquisition of firms like Essar Energy (Rs 2,500 crore), Coastal Energen (Rs 3,500 crore) and Lanco Amarkantak Energy (Rs 4,101 crore).
Adani Energy is now eyeing KSK Mahanadi Energy. It has positioned a bid of Rs 27,000 crore for this. If the deal goes by way of, it will likely be the most important bid ever by any Adani Group firm underneath the IBC.
In the true property sector, Adani Properties has acquired Aditya Estates Personal Restricted (Rs 400 crore), Nationwide Rayon Company and HDIL’s Shahad Maharashtra Lands and Venture BKC. Adani Goodhomes has acquired Radius Estates and Builders for Rs 76 crore. Within the port sector, Adani Ports and SEZ has acquired Dighi Port (Rs 705 crore) and Karaikal Port (Rs 1,485 crore).
Danger must be coated
Now Adani Group has its eyes on the cement sector. By shopping for majority stake in Ambuja Cements and ACC Restricted, Adani Group has turn into the second largest cement producer in India. The group is now contemplating the acquisition of firms like Jaypee Group and Vadraj Cements.
Nevertheless, the acquisition of bankrupt firms will be dangerous. Adani must make main adjustments to make these firms worthwhile. It stays to be seen how Adani Group faces these challenges and the way it makes these acquisitions useful for itself.