The number of shareholders of the Adani Group portfolio has increased rapidly and has reached 67 lakhs. According to Adani’s latest Integrated Annual Report 2023-24, this is almost six times the number of shareholders in the financial year ended March 2019, the number of shareholders in FY19 was 11 lakh.
The number of investors increased 6 times
In addition, Adani’s equity program has raised about $10.8 billion from long-term investors. This information comes after the recent recovery of Adani Enterprises, the flagship company of Adani Group chairman Gautam Adani, when it fully recovered the losses caused by the allegations of short-seller Hindenburg Research.
After the recovery, global research firm Jefferies said in its note that the Adani Group is now expanding vigorously and the group is now eyeing $90 billion capex over the next decade. Jefferies has retained BUY rating on four Adani Group companies – Adani Enterprises, Adani Ports & SEZ, Adani Energy Solutions and Ambuja Cements.
Excellent performance of Adani Group companies
Adani Group Chairman Gautam Adani said in an annual report last week that the challenges the group overcame last year have strengthened its resolve and it draws inspiration from India’s resilience. He said two-pronged attacks by US short sellers targeted the group on financial and political fronts, creating an all-round crisis. He said the road ahead is full of extraordinary possibilities, Gautam Adani said the Adani Group is stronger today than ever before.
On Friday, Adani Group stocks added Rs 1.23 lakh crore in market cap, taking the group’s total market cap to Rs 17.94 lakh crore. In its latest report, the group said listed companies trade at a Nifty 50 multiple of 20.3X as against the benchmark’s 19.2X. The portfolio has demonstrated superior EBITDA growth, outperforming both domestic and global indices.
