Ready to Cash In on Infrastructure Sector, Says Gautam Adani at AGM
Written by Anurag Tiwari
At Adani Enterprises’ 32nd annual general meeting (AGM), Chairman Gautam Adani focus attention on the group’s strong positioning to leverage opportunities in India’s infrastructure sector, with remarkable funding and activities coming about at the state level. He reaffirmed the company’s core focus on infrastructure. The AGM, held via video conference, also announced a new tradition: all listed Adani entities will hold their AGMs in the same week of June, starting with the chairman’s birthday on June 24.
Addressing the Hindenburg Research report, which alleged financial non-uniformity just before Adani Enterprises’ Rs 20,000 crore follow-on public offer (FPO) in January 2023, Adani called it a “two-sided attack.” In defiance of successfully raising the funds, the company decided to call off the FPO and return the proceeds, refuting the allegations.
Shareholders communicate concerns about geopolitical impacts on the India-Middle East-Europe corridor project. CFO Jugeshinder Singh assured that short-term disruptions would not significantly affect long-term trade route development. He also updated on the company’s green hydrogen initiatives, noting the ongoing testing of electrolyzers and the expected completion of the green hydrogen ecosystem development in the coming years.
