Indian Origin Gautam Adani Becomes World’s Second Richest Person

The Indian business man, has replaced the Amazon’s Jezz Bezos in the list of top richest people in the world, and became the second richest person. The net worth of the billionaire is $155 billion, which is $5 billion higher compare to Bezos’ net worth.

Elon Musk, the founder of the electric vehicle, more specifically Tesla and space tops the list. The net worth of the Musk is $274 billion, according to Forbes. While Bloomberg mentioned the net worth of the tycoon to be $264 billion.

Bill Gates, the co-founder of the Microsoft stood with a net worth of $105.3 billion in the list of people with wealth valuing over $100 billion.

On Friday, 16th September, the Adani jumped the list from being the third richest man to becoming the second richest man in the world. The majority of his wealth is constituted from his holdings in the mentioned group companies; The Adani Enterprises, Adani Ports, Adani Power, Adani Green Energy, Adani Transmission, Adani Total Gas, and Adani Wilmer.

Adani planned to invest INR 20,000 crore in Ambuja

Endeavour Trade and Investment Ltd., a subsidiary of The Adani Family, has acquired Ambuja Cements Ltd., and ACC Ltd., that included the capturing the stake of Holcim in Ambuja and ACC. It also included an open offer from both the companies, according to the Sebi regulations.

The constituted value of the stake, open offer consideration, and ACC is $6.5 billion. It is largest acquisition made by Adani with the largest ever M&A transaction of India in the space of infrastructure and materials.

After the transaction, the company got the 63.15% holdings of the Ambuja Cements and 56.69% holdings of ACC, combining the 4.48% of direct stake in it.

An infusion of Rs. 20,000 crore is accepted by the board of Ambuja Cements into Ambuja to help it attaining the growth in the market.

The market outlook of the India is expected to provide opportunity to the company to experience the maximum growth in the coming years. Moreover, the cement is vital for infrastructure developments in the emerging economy. It also has the potential to leverage the digital platform for transforming the production, and boost the supply chain efficiencies. The company will focus in manufacturing the premium quality green cement, being one of the significant renewable energy companies globally.

The manufacturing and supply chain infrastructure of the Ambuja Cements, and ACC include 14 integrated units, 79 ready-mix concrete plants, 16 grinding units, and more than 78,000 channel partners across the country.

Presently, the combined installed production capacity of the Ambuja Cements and ACC is 67.5 MTPA. The transaction was financed by 14 international banks for an aggregating value over $4.5 billion. It included Deutsche Bank AG, Barclays Bank PLC, Standard Chartered Bank and others.

Leave a Reply

Your email address will not be published. Required fields are marked *