Adani pulls off $2.5 billion share sale after jump in the final bids

First India Bureau

New Delhi: Gautam

Adani pulled off a closely watched $2.5 billion equity sale for his flagship company, largely thanks to existing shareholders, earning Indian billionaire some reprieve after empire was rocked by fraud allegations by short seller Hindenburg Research.

Offering by Adani Enterprises Ltd. was India’s largest follow-on share sale, and was fully subscribed on final day, aided by a last- minute surge in demand from investors. Interest from retail investors — who Adani was hoping to attract — was notably weak.

Israel PM Netanyahu hands over Haifa Port to Adani Group-led JV to Gautam Adani on Tuesday.

GAUTAM ADANI DROPS OFF LIST OF WORLD’S TOP 10 RICHEST PEOPLE

Gautam Adani has slipped out of the list of the world’s top 10 richest people, a report stated. Tycoon was earlier positioned fourth on the list. On Tuesday, shares of most of Adani firms were trading in negative territory, falling for 4th day running, amid concerns over USbased short seller Hindenburg report.

OVER PORT

Adani Group Chairman Gautam Adani shared a picture with Israeli PM Benjamin Netanyahu as he handed over port of Haifa to Adani Groupled JV. Adani, in partnership with Israel’s Gadot Group, had secured rights to buy 100% shares of Haifa Port Company Ltd for a concession period up to 2054 with its winning $1.8 bn bid.

INDIA TO REMAIN FASTEST-GROWING LARGE ECONOMY IN 2023 & 2024: IMF

IMF on Tuesday projected India’s growth to be 6.1% in 2023 from 6.8% in 2022, though the country will remain fastest-growing economy in 2023 and 2024. Int’l agency released Jan update of its World Economic Outlook, as per that global growth is projected to fall from 3.4% in 2022 to 2.9% in 2023, rise to 3.1% in 2024.

Recovery of the economy is complete; non-banking and corporate sectors now have healthy balance sheets, hence, we don’t have to speak of pandemic recovery anymore, we have to look ahead to the next phase.

—Dr V Anantha Nageswaran, Chief Economic Advisor

CAPTAIN PM MODI SMOOTHLY SAILED THE ECONOMY THROUGH ROCKY WATERS OF COVID: SHAH

PRESIDENT, SONIA EXCHANGE GREETINGS; CONG LEADERS IN SRINAGAR, GANDHI SITS ALONE

Union HM Amit Shah, Union Ministers Rajnath Singh, Nitin Gadkari, Dr Jitendra Singh and others lend ears to President’s address on Tuesday.

Shah took to twitter, Captain PM @narendramodi has smoothly navigated economy through the rocky waters of pandemic. #EconomicSurvey2023 P4

14 Charred To Death In Massive Fire In Jharkhand

First India Bureau Dhanbad: At least 14 people, including women and children, were charred to death and several others injured, after a major fire broke out in a multi-storey building in Jharkhand’s Dhanbad district on Tuesday, officials said. Blaze erupted at 6 pm on the second floor of Ashirwad Tower in Dhanbad’s Joraphatak area earlier claimed 3 deaths. Death toll on Tuesday late rose to 14, till this report was filed.

President Droupadi Murmu exchanges greetings with Congress Parliamentary Party chairperson and MP Sonia Gandhi on Tuesday. Meanwhile, Sonia sat alone in her designated front row bench in