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Business Standard
26-05-2025
- Business
- Business Standard
Adani eyes DPIL stake to tighten vendor control, boost infra capex plans
Adani Group has emerged as the leading contender to acquire a stake in Ahmedabad-based Diamond Power Infrastructure Ltd, according to a report by The Economic Times. Two other parties are also reportedly in discussions with the company's promoters. This aligns with the Gautam Adani-led conglomerate's strategy to gain tighter control over its vendor ecosystem as it ramps up capital expenditure over the coming years. Diamond Power Infrastructure Ltd (DPIL) operates across the power infrastructure value chain, with capabilities in cables, conductors, transmission towers, and power transmission and distribution. The company also undertakes turnkey manufacturing and installation of transmission line towers and components. DPIL was acquired in 2022 by a consortium comprising GSEC Ltd and Rakesh Shah through the National Company Law Tribunal (NCLT) route. It is currently listed on the BSE and has a market capitalisation of around ₹5,000 crore. DPIL promoters to dilute stake to meet regulatory norms According to Securities and Exchange Board of India (Sebi) regulations, listed companies must limit promoter holdings to 75 per cent. DPIL's promoters currently hold 90 per cent, a reduction from 94.88 per cent as of March 2024. 'Including the Adani Group, DPIL is in discussion with three suitors for a stake sale as promoters need to bring down their holding to 75 per cent from the present 90 per cent, as per Sebi norms,' a source said, as quoted by the report. A deal is expected within the next 60 days. Also Read Existing management may stay in place Should Adani Group secure the stake, it is likely to retain the current management — a model it previously adopted in other acquisitions. This includes PSP Projects Ltd, where Adani picked up a 30.07 per cent stake for ₹685 crore in 2023 while keeping the existing team in charge. In a similar strategic move in October last year, Adani's Renew Exim DMCC acquired a majority interest in ITD Cementation India, an EPC and civil infrastructure firm with operations both in India and abroad, The Economic Times reported. Adani Group's capex push and growth plans The stake acquisition in DPIL is part of Adani Group's broader capital expenditure push. The group is planning to increase its capex for the current financial year by up to 15 per cent, reaching ₹1.4 trillion to 1.45 trillion, compared to ₹1.26 trillion in FY25. For DPIL, the capital infusion from the stake sale is expected to support its expansion drive. The report quoted a source as saying, 'The company is targeting revenues of ₹10,000 crore over the next three years.' In FY25, DPIL posted a revenue of ₹343 crore. Adani pledges ₹50,000 crore for NE development At the recently concluded Rising Northeast Investors Summit, Adani Group Chairman Gautam Adani announced a fresh ₹50,000 crore investment commitment for the region over the next 10 years. This comes just three months after the group pledged a similar amount for Assam. 'Three months ago in Assam, we pledged an investment of ₹50,000 crore. Today, once again humbled and inspired by your (PM Modi) leadership, I announce that Adani Group will invest an additional ₹50,000 crore across the Northeast for the next 10 years,' Adani said at the event. The proposed investment will support a wide spectrum of sectors, including green energy, hydroelectric projects, power transmission, roads and highways, smart meters, digital infrastructure, and logistics. In addition, a significant portion will be directed towards vocational training and skill-building initiatives. Calling the Northeast 'a story rooted in diversity, resilience, and untapped potential', Adani noted the region's increasing role in India's national vision. He said it now represents India's cultural pride, economic promise, and strategic importance.
Business Mayor
26-05-2025
- Business
- Business Mayor
Adani Group ahead of two others in race for Diamond Power stake
The Gautam Adani-led conglomerate's interest in DPIL stems from its aim to gain better control of the vendor ecosystem, as it moves to significantly enhance capex in the coming few years. DPIL is a vertically integrated power infrastructure company with a presence across cables, conductors, transmission towers, and power transmission and distribution segments. The company is also engaged in manufacturing and installation of transmission line towers and parts on a turnkey basis. Existing Mgmt may Still Run Ops 'Including the Adani Group, DPIL is in discussion with three suitors for a stake sale as promoters need to bring down their holding to 75% from the present 90%, as per Sebi norms,' one of the persons cited above said, adding that a deal is likely in the next 60 days. Promoters of BSE-listed DPIL currently own 90% of the company, declining from 94.88% in March 2024. DPIL has a market capitalisation of around Rs 5,000 crore. The people did not disclose the size of stake the promoters are looking to sell. Parties competing with Adani for the DPIL stake could not be ascertained. DPIL was acquired by a consortium of GSEC Ltd and Rakesh Shah through a National Company Law Tribunal process in 2022. The people cited above said Adani Group is likely to follow the current model of acquiring a stake in the company and allowing the existing management to run operations. This would mirror its strategy deployed with construction company PSP Projects Ltd, wherein it had acquired a 30.07% stake for Rs 685 crore last last October, Adani Group arm Renew Exim DMCC took a majority stake in ITD Cementation India. ITD Cementation is an engineering and construction company with civil, infrastructure, and engineering, procurement and construction (EPC) businesses in India and overseas. Adani Group plans to boost capex for the current fiscal year by up to 15% to Rs 1.4-1.45 lakh crore. Capex in FY25 hit an all-time high of Rs 126,000 crore. EXPANSION PLANS DPIL will use proceeds from the stake sale to further expand operations with the company targeting revenues of Rs 10,000 crore in the next three years, the person said. The company ended FY25 with Rs 343 crore revenue. Adani Group and DPIL did not respond to email queries.
Time of India
26-05-2025
- Business
- Time of India
Adani Group ahead of two others in race for Diamond Power stake
MUMBAI: Adani Group is the frontrunner for a stake in Ahmedabad-based Diamond Power Infrastructure Ltd (DPIL), said people close to the development. Two other contenders are also in the race, the people said. The Gautam Adani-led conglomerate's interest in DPIL stems from its aim to gain better control of the vendor ecosystem, as it moves to significantly enhance capex in the coming few years. DPIL is a vertically integrated power infrastructure company with a presence across cables, conductors, transmission towers, and power transmission and distribution segments. The company is also engaged in manufacturing and installation of transmission line towers and parts on a turnkey basis. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like '엄마, 천국 가면 다시 만날 수 있어?' 월드비전 더 알아보기 Undo Existing Mgmt may Still Run Ops 'Including the Adani Group, DPIL is in discussion with three suitors for a stake sale as promoters need to bring down their holding to 75% from the present 90%, as per Sebi norms,' one of the persons cited above said, adding that a deal is likely in the next 60 days. Promoters of BSE-listed DPIL currently own 90% of the company, declining from 94.88% in March 2024. Live Events DPIL has a market capitalisation of around Rs 5,000 crore. The people did not disclose the size of stake the promoters are looking to sell. Parties competing with Adani for the DPIL stake could not be ascertained. DPIL was acquired by a consortium of GSEC Ltd and Rakesh Shah through a National Company Law Tribunal process in 2022. The people cited above said Adani Group is likely to follow the current model of acquiring a stake in the company and allowing the existing management to run operations. This would mirror its strategy deployed with construction company PSP Projects Ltd , wherein it had acquired a 30.07% stake for Rs 685 crore last year. Also, last October, Adani Group arm Renew Exim DMCC took a majority stake in ITD Cementation India . ITD Cementation is an engineering and construction company with civil, infrastructure, and engineering, procurement and construction (EPC) businesses in India and overseas. Adani Group plans to boost capex for the current fiscal year by up to 15% to Rs 1.4-1.45 lakh crore. Capex in FY25 hit an all-time high of Rs 126,000 crore. EXPANSION PLANS DPIL will use proceeds from the stake sale to further expand operations with the company targeting revenues of Rs 10,000 crore in the next three years, the person said. The company ended FY25 with Rs 343 crore revenue. Adani Group and DPIL did not respond to email queries.
Time of India
23-05-2025
- Business
- Time of India
Adani Group, Reliance, Vedanta to invest Rs 30,000-50,000 cr each in northeast India
Adani Group, Reliance Industries , and Vedanta plan to invest an additional ₹30,000-50,000 crore each in northeast India, the conglomerates announced at the Rising Northeast Investors Summit on Friday. Reliance's investments across the region span retail, healthcare, and telecom services, while the Adani Group has invested in infrastructure, logistics networks, energy projects, and digital connectivity solutions. Speaking at the event, Mukesh Ambani, chairman and managing director, said Reliance Industries has committed to investing ₹45,000 crore more in the Northeast. "Reliance has invested around ₹30,000 crore in the region in the past 40 years," he said, adding, "In the next five years, we will more than double our investments, with our target at ₹75,000 crore". ET Bureau RIL's investments will cover telecom, retail, renewable energy, biofuel, healthcare, and sports infrastructure across all eight Northeastern states. Reliance Jio plans to double its 5G user base in the region this year, and deploy AI-based tools in schools, hospitals, businesses, and homes. On the retail front, Reliance will increase sourcing of agricultural produce and set up local FMCG manufacturing units. On the other hand, Gautam Adani-led Adani Group pledged a ₹1 lakh crore investment commitment for Assam and the broader Northeast region over the next decade. Adani said the group's investment will focus on green energy, power transmission, roads, digital infrastructure, logistics, and human capital development. The commitment doubles the ₹50,000 crore investment announced by the Adani Group just three months ago at the Advantage Assam 2.0 summit. Natural resources major Vedanta announced a ₹80,000 crore investment in the region, including ₹50,000 crore in Assam that it had announced earlier this year. These investments will be made in oil & gas, critical minerals, refining facilities, power, optical fibre, system integration, renewable energy, transmission sectors and data centres in six northeastern states. The investment is expected to generate 100,000 jobs.
Economic Times
02-05-2025
- Business
- Economic Times
Stocks in news: Eternal, Marico, Adani Enterprises, HAL, Bandhan Bank
Markets remained subdued for yet another session on Friday and ended largely flat. In today's trade, shares of Eternal, Marico, Adani Enterprises, HAL, Bandhan Bank among others will be in focus due to various news developments and fourth quarter results. ADVERTISEMENT Eternal Food delivery company Eternal (formerly Zomato) saw its net profit fall by 78% year-on-year (YoY) to Rs 39 crore in the March 2025 quarter. Revenue from operations increased 64% YoY to Rs 5,833 crore. Marico, IOB Shares of Marico and Indian Overseas Bank will be in focus as the companies will announce their fourth quarter results today. Adani Enterprises Gautam Adani-led Adani Enterprises profit surged 752% year-on-year (YoY) to Rs 3,845 crore in the fourth quarter ended March 2025, due to an exceptional gain. Adani Ports Adani Ports on Thursday reported 50% growth in its consolidated net profit at Rs 3023 crore in the fourth quarter ended March 2024. Hindustan Aeronautics Advanced Light Helicopter (AHL) Dhruv Army and Air Force Versions cleared for operations on basis of recommendations of the Defect Investigation (DI) Committee. ADVERTISEMENT SBFC Finance Pankaj Poddar resigned as the chief risk officer of the Bank with effect from April 30. VM Maneesh resigned as chief operations officer of the Bank with effect from May 15. PNB Housing Carlyle group entity Quality Investment Holdings PCC is likely to sell 10.44% stake in PNB Housing via block deals. ADVERTISEMENT NBCC NBCC bagged work order worth Rs 95.66 crore from Sushma Swaraj Institute Of Foreign Service. NTPC Green NTPC Green declared 75 MW capacity out of 500 MW of Joint Venture IRCON Renewable as operational. ADVERTISEMENT Paytm Paytm arm Paytm Cloud Technologies has incorporated its arm 'Paytm Arab Payments LLC' in the United Arab Emirates. Nitco Tiles Nitco Tiles received orders worth Rs 111 crore for tiles and marble from Prestige Estates Projects. ADVERTISEMENT One MobiKwik One MobiKwik said arm Zaak ePayment received RBI authorisation to operate as online payment aggregator. Bandhan Bank Bandhan Bank reported a strong set of numbers in the March quarter as its profit soared 483% YoY to Rs 318 crore as compared to just Rs 55 crore in the year-ago period. Adani Power Adani Power reported a 4% fall in its Q4FY25 consolidated net profit to Rs 2,637 crore versus Rs 2,737 crore reported in the year ago period. (You can now subscribe to our ETMarkets WhatsApp channel)
