ADANIENT

Details the charges in paragraphs 2-3, no immediate SEC response

NEW YORK, April 7 (Reuters) - Gautam Adani, India's second richest person, will ask a U.S. judge to dismiss the Securities and Exchange Commission's civil fraud case against him, his lawyers said on Tuesday.

Adani and his nephew Sagar Adani were charged by the SEC in November 2024 with orchestrating a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy ADNA.NS, where both men are executives and directors.

The securities fraud case is tied to Adani Green's alleged failure to disclose the scheme in documents for a $750 million bond offering in 2021.

In a filing in the Brooklyn, New York federal court, Adani's lawyers said the SEC claims were "impermissibly extraterritorial," given that the defendants and all alleged misconduct were in India, and the bonds were never traded on a U.S. exchange.

The lawyers also said the Adanis' lack of involvement in the offering and the absence of credible evidence supporting the bribery scheme supported a dismissal.

The SEC did not immediately respond to a request for comment.

(Reporting by Jonathan Stempel in New York
Editing by Tomasz Janowski)

(([email protected] ; +1 646 223 6317; Reuters Messaging: [email protected] /))

By Arpan Chaturvedi

NEW DELHI, April 6 (Reuters) - India’s top court on Monday rejected billionaire Anil Agarwal-led Vedanta's plea to pause the acquisition by Adani group of a bankrupt real estate giant, which includes a $4 billion pool of prized assets including India's only Formula One track.

Agarwal's Vedanta is fighting in courts against the decision of a lenders' panel to give the assets of bankrupt Jaiprakash Associates to fellow tycoon Gautam Adani's group, setting up a battle between billionaires for assets including homes, power, cement plants and the Buddh International Circuit track near New Delhi.

Vedanta's challenge in the Supreme Court was declined as the judges said a lower tribunal was fit to hear the concerns of the group, and the top court does not need to interfere in the proceedings.

Vedanta argues that its $1.8 billion bid was better, but the lenders' panel decided in Adani's favour as its $1.5 billion bid had higher upfront payments.

The acquisition could boost Adani group's real estate plans, which include its other key projects in Mumbai, including the redevelopment of one of Asia's largest slums, Dharavi.

Adani's son, Karan Adani, said at a public event last month that he is "very personally engaged" with bringing F1 back to India after a 13-year absence.

(Reporting by Arpan Chaturvedi
Editing by Keith Weir)

(([email protected];))

April 1 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AAHL, BLINKIT LAUNCH INDIA’S FIRST IN-TERMINAL QUICK COMMERCE SERVICE AT MUMBAI AIRPORT- STATEMENT

Source text: [ID:]

Further company coverage: ABUJ.NS

(([email protected];))

March 31 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• INCORPORATED A WHOLLY OWNED SUBSIDIARY NAMELY "ADANI METALS AND MINERALS FZCO" IN UAE

Source text: ID:nBSE5wCw8V

Further company coverage: ADEL.NS

(([email protected];))

By Aditi Shah

NEW DELHI, March 20 (Reuters) - Tesla TSLA.O is preparing to enter India's industrial energy storage market, according to a job ad on its website, pitting it against companies controlled by Mukesh Ambani and Gautam Adani as they deepen investment in the sector as the grid shifts to cleaner power.

The new business will also mark Tesla's expansion in India beyond just electric cars, which it started selling in August.

The company already operates a Megapack business in the U.S. and other markets, supplying large-scale energy storage systems for industrial and utility users.

Tesla's new plan was revealed in a job ad on its website, which said it is looking to hire a business development lead in India to "develop and execute a comprehensive market expansion strategy for industrial energy storage solutions".

The candidate will shape its entry into India for "utility-scale energy storage", it added, without elaborating.

Reuters is first to report Tesla's plan. The company did not respond to a request for comment.

Ambani's Reliance RS.N and Adani's group ADEL.NS also have ambitious plans for India's energy storage sector.

India has set a target to reach 500 gigawatts (GW) of non-fossil fuel energy capacity by 2030 from more than 262 GW at the end of 2025. It needs devices that can store energy during off-peak hours, stabilise the grid and reduce carbon emissions.

The government is encouraging companies to invest in storage systems by providing fiscal incentives and is also working on a national roadmap to enable firms to meet the targets.

(Reporting by Aditi Shah, editing by Aditya Kalra and Louise Heavens)

(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

March 19 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI ENTERPRISES - CONVERSION OF 137.5 MILLION PARTLY PAID-UP SHARES INTO FULLY PAID-UP SHARES

Source text: ID:nBSE9QQVBg

Further company coverage: ADEL.NS

(([email protected];))

March 18 (Reuters) -

• ADANI GROUP: MUNDRA PORT WELCOMED THE INDIAN-FLAGGED VESSELS SHIVALIK, CARRYING 46,000 MT OF LPG, AND JAG LAADKI, CARRYING 80,886 MT OF CRUDE OIL

Source text: https://tinyurl.com/hkzz9yex

Further company coverage: ADEL.NS

(([email protected];))

March 16 (Reuters) -

• INDIGO AND ADANI AIRPORTS PARTNER TO OFFER INDIGO BLUCHIPS ON DUTY-FREE SHOPPING - STATEMENT

Source text: [Full Story]

Further company coverage: ADEL.NS

(([email protected];;))

March 11 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• UNIT COMPLETED ACQUISITION OF 14.2% EFFECTIVE SHAREHOLDING IN AIR WORKS INDIA

Source text: ID:nBSE5JmN3s

Further company coverage: ADEL.NS

(([email protected];;))

By Gabriel Araujo

SAO PAULO, March 9 (Reuters) - Brazilian planemaker Embraer EMBJ3.SA could roll out E175-E1 regional jets from a potential production line in India as early as 2028, but the plan hinges on orders for at least 200 aircraft, CEO Francisco Gomes Neto told Reuters on Friday.

Earlier this year, Embraer and India's Adani Group had announced a memorandum of understanding to establish a final assembly line for the Brazilian firm's first-generation jetliners in India.

Such a move would mark a significant win for the Indian government, which has urged planemakers to build jets locally, and a geographic shift for Embraer, which currently produces commercial jets only in Brazil.

"Of course, we will not start a significant investment without orders. That's the first point, we need the orders. And what we're saying is this: to set up an assembly line, we need at least 200 aircraft to be produced there," Gomes Neto said.

If orders are secured by the end of 2026, the company would be able to start delivering planes in 2028, he added.

"It's roughly 24 months, which we believe is enough to begin making it happen. They know that, it's clear to us," the CEO said.

Gomes Neto said Embraer has identified at least 1,800 Indian routes that could be operated by E1s – jets that seat up to 88 people and are essential to U.S. regional aviation but have lacked demand elsewhere in recent years.

The executive noted that a plant in India would help Embraer boost production while filling its hybrid line in Brazil with orders for the newer E2 family, which has seen strong global demand.

Embraer, which initially targeted reaching 100 commercial aircraft deliveries in a single year in 2028, now sees scope to hit the milestone in 2027, the CEO said.

SAUDI ARABIA NO LONGER A C-390 HOTSPOT

In addition to commercial aircraft, Embraer has also partnered in India with Mahindra on the C-390 military cargo jet, calling the country a "strategic market" for its defense unit.

Saudi Arabia, the European Union, and the United States also earned that label in 2024, but Gomes Neto said prospects have now dimmed for an order from the Middle Eastern country.

"It continues to be a business front, but it's not in the hotspot for us right now," he said, adding that Embraer is instead focusing on India and the United States.

Embraer had hoped to replace Saudi Arabia's aging fleet of Lockheed Martin's C-130. In 2023, when President Luiz Inacio Lula da Silva visited the country, it signed a deal with SAMI, which has the backing of Saudi public wealth fund PIF, to explore a potential C-390 assembly line there.

"We have a good product there, but I believe they had the vision of having a larger aircraft," Gomes Neto said. "It's still on our radar, but no longer in the hotspot."

(Reporting by Gabriel Araujo
Editing by Nick Zieminski)

(([email protected]; +55 11 5047-3352;))

March 2 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• KCL HAS DIVESTED ITS ENTIRE 50% STAKE IN PRANEETHA ECOCABLES

Source text: ID:nBSE1WBgwy

Further company coverage: ADEL.NS

(([email protected];;))

March 1 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI ENTERPRISES LTD - ADSTL EXECUTED AN AGREEMENT ON MARCH 1 WITH PUNJ LLOYD AVIATION TO ACQUIRE 14.2% STAKE IN AIR WORKS

Source text: ID:nBSE7jbwtG

Further company coverage: ADEL.NS

(([email protected];))

The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

By Shritama Bose and Ujjaini Dutta

NEW DELHI, Feb 23 (Reuters Breakingviews) - The dissonance surrounding India's artificial intelligence dreams came alive at the AI Impact Summit. The five-day confab in New Delhi last week hosted global A-listers from OpenAI CEO Sam Altman to Alphabet's GOOGL.O Sundar Pichai and attracted investment pledges of over $250 billion, including from Reliance Industries RELI.NS and the Adani Group. But the euphoria barely concealed the country's simmering anxieties around the fast-moving technology.

The 500,000 visitors at the shindig focusing on "bridging the global AI divide" included delegates from 118 countries and swarms of college students attending sessions on everything from the creator economy to AI in agriculture and defence. On Saturday, 88 nations and international groupings endorsed the Delhi Declaration, which commits to democratising AI resources.

Yet even as crowds during the week cheered India’s homegrown government-backed answer to OpenAI and DeepSeek, Sarvam AI’s demonstrations of its "extremely frugal" large language models for Indic languages underscored the steep challenge facing most countries seeking to preserve AI sovereignty. Without powerful domestic alternatives, attendees warned, India risks becoming a digital colony of the United States and China.

Also lacking was substantial discussion on job losses from AI. India already struggles to create the 8 million roles it needs each year to absorb new entrants into the workforce. Its vast IT software services industry and role as the world's back office places it at the sharp end of disruption. V Anantha Nageswaran, India's chief economic advisor, at least hinted at the scale of the looming challenge, calling it "a stress test of our state capacity" - a remark that resonates in a country known for weak policy implementation.

The summit also failed to build consensus on who should shoulder the gargantuan task of reskilling a workforce whose future already fuels frequent primetime television debates. Prime Minister Narendra Modi said reskilling must become a mass movement. In private, executives cast it as the government’s problem. Past precedent suggests India Inc will ultimately be forced to share the burden.

The lack of urgency perhaps stems from knowledge that multi-year contracts with global firms will buy outsourcers like Tata Consultancy Services TCS.NS, among India's largest employers, a few years to adapt. In time AI might create more jobs than it destroys, as Reliance's Chair Mukesh Ambani vowed to prove. But that's cold comfort for the swelling ranks of Indian workers caught up in the churn. For now, India has missed a chance to set the agenda for the Global South on this important topic. Hubris was poor cover.

Follow Shritama Bose on LinkedIn and X.

Follow Ujjaini Dutta on LinkedIn and X.

CONTEXT NEWS

The AI Impact Summit 2026 was held at New Delhi from February 16 to 20. The summit attracted 500,000 visitors, 20 heads of government and delegates from 118 countries, India's Ministry of Electronics and Information Technology said on February 20.

(Editing by Una Galani; Production by Aditya Srivastav)

((For previous columns by the authors, Reuters customers can click on BOSE/ [email protected] and DUTTA/ [email protected]))

Recasts lead, adds Gates Foundation comment in paragraphs 6, detail in 7, Sam Altman quote in paragraph 14

By Aditya Soni, Munsif Vengattil and Aditya Kalra

NEW DELHI, Feb 19 (Reuters) - Bill Gates pulled out of India's AI Impact Summit hours before his scheduled keynote on Thursday, as scrutiny over his ties to late financier and sex offender Jeffrey Epstein intensified following the release of U.S. Justice Department emails.

The abrupt withdrawal of Microsoft's co-founder dealt a fresh blow to a flagship event already marred by organisational lapses, a robot row and complaints of traffic chaos.

The six-day event still notched more than $200 billion in investment pledges for AI infrastructure in India, including a $110 billion plan announced by Reliance Industries RELI.NS on Thursday. India's Tata Group also signed a partnership deal with OpenAI.

Gates' cancellation follows the release of emails last month by the DOJ that included communication between late financier and convicted sex offender Epstein and the Gates Foundation's staff.

The foundation said the billionaire will not deliver his address "to ensure the focus remains on the AI Summit's key priorities". Only days ago, the foundation had dismissed rumours of his absence and insisted he was on track to attend.

The foundation's chief strategy officer and Africa and India chief Ankur Vora spoke instead of Gates.

A representative for the philanthropic organisation, started by Gates and his then-wife in 2000, did not respond to a Reuters query on whether the withdrawal was linked to scrutiny over the Epstein files.

Gates has said the relationship was confined to philanthropy-related discussions and that it was a mistake for him to meet the sex offender.

He was among the top tech leaders due to attend the event among the likes of Google GOOGL.O CEO Sundar Pichai, OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei.

Gates' absence followed another high-profile cancellation by Nvidia's NVDA.O Jensen Huang earlier on Saturday, which added to a difficult opening for a summit billed as the first major AI forum in the Global South, where India has sought to position itself as a leading voice in worldwide AI governance.

MODI ADDRESS, AI COMMITMENTS

In his keynote address, Indian Prime Minister Narendra Modi called for maintaining children's safety on AI platforms as he addressed the gathering on Thursday, alongside French President Emmanuel Macron.

"We must be even more vigilant about children's safety. Just as a school syllabus is curated, the AI space should also be child- and family-guided," Modi said, after standing on stage with top AI executives and posing for photographs with their arms raised in a show of strength.

The photoshoot produced an awkward moment when Altman and Amodei, chiefs of rival AI firms OpenAI and Anthropic, stood side by side on stage but did not hold hands although the other executives did.

The symbolic unity pose was to declare the formal launch of the New Delhi Frontier AI Commitments, a set of voluntary principles adopted by leading AI companies at the summit to advance inclusive, responsible development of frontier AI models.

"One hundred million people in India now use ChatGPT each week," Altman told the gathering.

Despite the investment successes, India's first major AI summit has been marred by organisational lapses that have left attendees shocked and angry over what they described as a lack of planning by the Indian government.

CHAOS AND TRAFFIC SNARLS

The summit exhibition halls were shut to the public on Thursday in a surprise move that led to more anger among participating companies that had put up stalls and pavilions. The venue compound was largely deserted after three days of large crowds at the event.

Indian university Galgotias was asked to vacate its stall after a staff member presented a commercially available robotic dog made in China as its own creation, sparking a public uproar.

Police repeatedly shut roads to give preference to VIP movement at the summit, creating chaos in the city of 20 million people. The Indian government has apologised for inconvenience caused to attendees in the initial days.

Opposition parties attacked the government and the prime minister for poorly managing the global summit.

"The whole summit is, sorry was, meant for researchers, founders, builders who are grinding in the field every day. Instead we get treated like we don't matter, blocked for hours so some minister or official can pass through," Jay Gala, a Microsoft researcher, said on social media website X.

(Reporting by Munsif Vengattil, Aditya Soni, Aditya Kalra in New Delhi; Additional reporting by Sakshi Dayal, and Abhirami G; Editing by Kim Coghill, Muralikumar Anantharaman, Raju Gopalakrishnan and Christian Schmollinger)

(([email protected];))

Feb 18 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• ADANI ENTERPRISES - FEDEX TO DEVELOP FULLY AUTOMATED AIR CARGO HUB AT NAVI MUMBAI AIRPORT WITH LONG-TERM INVESTMENT OF OVER 25 BILLION RUPEES

Source text: [ID:]

Further company coverage: ABUJ.NS

(([email protected];;))

Feb 17 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI ENTERPRISES LTD - ACQUISITION OF 49% SHAREHOLDING OF SREE VISHWA VARADHI PRIVATE LIMITED BY ADANI ROAD TRANSPORT

Source text: ID:nnAZN4SH482

Further company coverage: ADEL.NS

(([email protected];))

Feb 16 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI ENTERPRISES LTD - INCORPORATION OF A WHOLLY OWNED STEP-DOWN SUBSIDIARY BY ADANICONNEX

Source text: ID:nBSE7Y5Qv9

Further company coverage: ADEL.NS

(([email protected];;))

Feb 13 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI ENTERPRISES LTD - INCORPORATION OF A UNIT NAVI MUMBAI POWER DISTRIBUTION BY JV ADANICONNEX

Source text: ID:nBSE3Y0Cb2

Further company coverage: ADEL.NS

(([email protected];;))

MUMBAI, Feb 12 (Reuters) - India's Adani Airport Holdings has accepted bids worth 15 billion rupees ($165.55 million) for bonds maturing in three years, three bankers said on Thursday.

It will pay a coupon of 8.45%, payable quarterly, and had invited commitment bids for the issue on Wednesday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on February 12:

*Size includes base plus greenshoe for some issues

($1 = 90.6050 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)

(([email protected]))

By Arpan Chaturvedi

NEW DELHI, Feb 11 (Reuters) - An Indian court has sentenced a journalist to one year in jail for some of his social media posts on the Adani Group, saying they were unverified, defamatory and portrayed the group in a disreputable light.

Adani Enterprises, led by billionaire Gautam Adani, filed the case in 2021 against India journalist Ravi Nair in a district court in Gujarat, accusing him of making statements suggesting "political patronage... financial irregularities and unethical conduct", according to a Tuesday court order seen by Reuters.

"No documentary material, official record, or verified data has been produced to substantiate the serious allegations made against the complainant company," the court said in its order.

Nair told Reuters he will appeal the conviction but declined to comment further.

The Adani group did not immediately respond to a Reuters request for comment.

Nair's lawyer argued the posts were based on publicly available material and constitute fair comment and criticism, the court order noted.

India is among those countries where criminal defamation is still part of the legal system and carries a maximum jail term of two years.

The law has previously faced opposition from lawyers, journalists and activists, including an unsuccessful legal challenge before India's top court in 2016.

Press freedom group Committee to Protect Journalists said it was "deeply concerned" with the verdict.

"We are closely monitoring the situation," it said on X.

(Reporting by Arpan Chaturvedi; Editing by Aditya Kalra and Kim Coghill)

(([email protected];))

Feb 10 (Reuters) - India's Adani Enterprises ADEL.NS said on Tuesday it was in talks with the U.S. Office of Foreign Assets over allegations raised in a report published by the Wall Street Journal in June last year.

Wall Street Journal had reported that billionaire Gautam Adani was trying to get the Trump administration to drop bribery charges against him.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)

((mailto: [email protected]; @MukherjeeHritam;))

Feb 3 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI ENTERPRISES LTD - ADANI DEFENCE & AEROSPACE AND LEONARDO FORGE STRATEGIC PARTNERSHIP

• ADANI ENTERPRISES LTD - PARTNERSHIP TO BUILD INDIA'S HELICOPTER ECOSYSTEM

Source text: [ID:]

Further company coverage: ADEL.NS

(([email protected];;))

.

By Jonathan Stempel

NEW YORK, Jan 30 (Reuters) - The U.S. Securities and Exchange Commission has arranged to serve Gautam Adani with a civil fraud lawsuit, allowing the regulator's case against India's second-richest person to proceed.

In a Friday filing in the Brooklyn, New York federal court, the SEC and U.S.-based lawyers for Adani and his nephew Sagar Adani said the lawyers agreed to accept the SEC's legal papers, eliminating the need for U.S. District Judge Nicholas Garaufis to rule on how the defendants should be served.

If the judge approves the resolution, the Adanis will have 90 days to respond to the SEC's complaint, which could include requests for a dismissal.

Robert Giuffra, a lawyer for Gautam Adani, declined to comment. Sean Hecker, a lawyer for Sagar Adani, also declined to comment.

The SEC charged the Adanis in November 2024 with violating U.S. securities law by orchestrating a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy ADNA.NS, where both are executives and directors.

Both defendants are in India, and the SEC had reported difficulty in serving them with legal papers.

U.S. prosecutors filed a related criminal case in November 2024 against the Adanis and several other defendants. There have been no public developments in that case for more than a year. The SEC's case had been stalled for most of that time.

Gautam Adani, 63, founded and chairs the conglomerate Adani Group. He is worth about $59 billion according to Forbes magazine.

(Reporting by Jonathan Stempel; Editing by Hugh Lawson)

Jan 29 (Reuters) -

• ADANI EYES $1.5 BILLION YEN DEBT IN BID TO DIVERSIFY CREDIT MIX - BLOOMBERG NEWS

Source text: [https://tinyurl.com/muj2vve3]

Further company coverage: ADEL.NS

(([email protected];))

Jan 27 (Reuters) - India's Adani Group and Brazil's Embraer SA EMBJ3.SA announced on Tuesday a partnership to establish a regional transport aircraft venture in India, with plans covering manufacturing, assembly, and increased localisation efforts, marking the Adani Group's foray into the sector.

(Reporting by Aditya Kalra and Surbhi Misra; Editing by Jacqueline Wong)

((Email: [email protected]; Mobile: +91-9019785574;))

Edits paragraphs 1-2, adds details about SEC request in paragraphs 8-11

By Urvi Dugar

Jan 23 (Reuters) - India's Adani group firms shed $12.5 billion in market cap on Friday, after a U.S. markets regulator asked a court for help in serving summonses upon founder Gautam Adani and group executive Sagar Adani over alleged fraud and a $265 million bribery scheme.

Reuters reported the procedural request from the U.S. Securities and Exchange Commission, in the regulator's civil case against the Adanis, on Thursday after the Indian markets closed.

On Friday, the group's flagship company, Adani Enterprises ADEL.NS, was the top percentage loser on India's benchmark Nifty 50 .NSEI. While the firm's shares fell 10.65% to 1,864.2 rupees, the Nifty declined 0.95% at close.

Group shares settled down between 3.4% and 14.54%.

U.S. authorities in November 2024 accused Adani group executives of being part of a scheme to pay bribes to Indian officials for buying electricity produced by Adani Green Energy ADNA.NS, a unit of the Adani group.

The SEC's civil case against Gautam Adani and his nephew Sagar Adani is separate from the U.S. Department of Justice's criminal indictment against the Adanis and several other defendants. The Justice Department case remains open, court records show.

U.S. law prohibits foreign companies that raise money from American investors from paying bribes overseas to secure business, and it also bars them from soliciting investment on the basis of false or misleading statements.

Serving a summons is often routine, but the SEC said India's government had refused two requests to have its summonses served on the Adanis.

The regulator asked a judge to instead let it serve the summonses on the Adanis' U.S.-based lawyers, and email copies to the Adanis.

U.S. civil procedural rules allow this method of service, the SEC said. "Given defendants’ actual knowledge of this litigation -- demonstrated by public statements, regulatory filings, and retention of U.S. counsel -- email service to their business addresses will provide effective notice," the SEC added.

Adani group has called the SEC allegations "baseless" and said it would seek "all possible legal recourse" to defend itself.

It had not immediately responded to Reuters' request for comment on the latest SEC filing, dated January 21.

"Market participants assumed there's nothing pending and that the group has been cleared, so the SEC filing seems (to have come) out of the blue," said Ambareesh Baliga, an independent market analyst.

With no clear timeline for the next steps, Baliga said he expects the issue could linger for at least another fortnight, noting that overall market sentiment was already weak.

(Reporting by Urvi Dugar and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala, Noeleen Walder and Daniel Wallis)

(([email protected]; +91 9558725583;))

Updates with more details

By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, Jan 21 (Reuters) - State Bank of India's mutual fund unit has committed to pick up at least 10% of Adani Power's ADAN.NS nearly $820 million rupee-denominated bond issue, likely to be launched later this week, three merchant bankers said on Wednesday.

The mutual fund, India's biggest in terms of assets under management, is acting as one of the anchor investors for the issue, with a commitment of 7.50 billion rupees, the bankers said, requesting anonymity as they are not authorised to speak to the media.

The planned 75 billion-rupee issue would be the group's largest-ever rupee bond sale.

SBI Mutual Fund and Adani Power did not respond to email queries.

Adani Power is looking to raise 28.60 billion rupees through a two-year option and 26.90 billion rupees via a three-year note.

SBI MF will buy 4.50 billion rupees and three billion rupees of these papers as the anchor investor, the bankers said.

The Adani unit will pay a coupon of 8.00% and 8.20% on the two- and three-year bonds, and 8.30% and 8.40% on four- and five-year papers.

The remaining 6.75 billion rupees and 12.75 billion rupees will be raised through four- and five-year papers, respectively, the bankers said.

Trust Investment Advisors, ICICI Bank and Axis Bank are the arrangers for the issue.

The lenders have will also back the issue by providing commitments worth 3.31 billion rupees and 3 billion rupees, respectively, the bankers said.

The banks did not reply to an email seeking comment.

The bonds are rated 'AA' by Crisil and India Ratings, with the coupons set to step up by 25 basis points for every notch rating downgrade.

Earlier this financial year, another group company, Adani Ports and Special Economic Zone APSE.NS, raised 50 billion rupees by placing 15-year bonds directly with Life Insurance Corporation of India LIFI.NS.

($1 = 91.5630 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

(([email protected];))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, Jan 15 (Reuters Breakingviews) - China-India ties are beginning to thaw. New Delhi may lift a five-year-old ban on companies from the People's Republic bidding for official contracts to revive commercial ties with its neighbour. That potentially paves the way to further lift curbs on Chinese investments too, but any easing will be capped by both sides.

India is planning to scrap restrictions, imposed after a deadly 2020 border clash, on Chinese bidders in government infrastructure and other projects, Reuters reported on January 8, citing sources. Alongside smoother visa approvals, it signals willingness to reciprocate China's gradual easing of export curbs on rare earth magnets after Indian Prime Minister Narendra Modi's visit to China in September.

The urgency to go further is rising. Net foreign direct investment into the country fell in the year to March 2025, though that is starting to pick up. Even so, strained bilateral ties with Washington mean the $4 trillion economy is grappling with a 50% tariff on exports to the United States, its top trading partner.

Moreover, despite border tensions, India's trade deficit with China has doubled over the last five years to $99 billion for the year ended March 2025. Under the current policy of applying extra scrutiny on Chinese-origin investments, the approval rate is just 15%, a person familiar with the matter told Breakingviews, implying a decent pipeline of investments waiting in the wings.

An easy place to start would be in manufacturing. Local smartphone operations from Apple AAPL.O to Xiaomi 1810.HK, for example, rely on mostly low-tech machinery, chips, displays, batteries and other inputs imported from China. Allowing some of those suppliers to set up factories in India makes sense. The same is true for textiles and plastics.

Yet trust issues persist. New Delhi is unlikely to open the floodgates in strategic sectors where it wants to protect its own domestic firms. In solar power, Adani Enterprises ADEL.NS has invested huge sums but remains highly dependent on Chinese panel makers. That might open a door for firms like JinkoSolar JKS.N and Longi Green Energy 601012.SS to establish a toehold in the market.

But in other areas like electric vehicles, India's appetite for Chinese investments will reach its limits. The $120 billion BYD 002594.SZ is hoping to manufacture in India but faces opposition from established groups like Mahindra & Mahindra MAHM.NS and Tata Motors Passenger Vehicles TAMO.NS.

Officials might demand BYD build its marques and batteries from scratch locally, potentially in partnership with an Indian group. That would require a degree of technology transfer that Chinese firms are unlikely to agree to: Bloomberg reported on Monday, citing sources, that Reliance Industries RELI.NS has paused plans to build lithium-ion batteries after it failed to license technology from Xiamen Hithium Energy, which the Indian group denies.

India's courting of Chinese capital only goes so far.

Follow Shritama Bose on LinkedIn and X.

CONTEXT NEWS

India's Ministry of Finance plans to scrap five-year-old restrictions on Chinese firms bidding for government contracts, Reuters reported on January 8, citing two unnamed official sources.

New Delhi is weighing a proposal to exempt offshore investments for holdings of up to 26% in local companies from additional screening requirements introduced in 2020, Mint newspaper reported on January 1, citing two unnamed people familiar with the matter. The exemption will apply as long as the foreign entity exercises no management control and holds no seat on the company’s board, the report added.

(Editing by Robyn Mak; Production by Ujjaini Dutta)

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Jan 7 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI ENTERPRISES - BOARD APPROVED EARLY CLOSURE OF NCD ISSUE ON JANUARY 8, 2026

Source text - https://bit.ly/3LeFb4F

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