New Delhi, May 04 The Ahmedabad-based Adani Power Limited, which has proposed an Initial Public Offer, may go in for a pre-IPO placement of up to Rs 2,000 crore to partly fund its 9,000-MW power projects.

The group has said in its 'red herring' prospectus filed with SEBI that the company might consider a pre-IPO placement of equity shares with various investors. Adani seeks to raise more than Rs 5,000 crore through the IPO.

It had proposed to come out with a public issue 29.70 crore equity shares of Rs 10 at a premium, to set up six power projects at an estimated cost of about Rs 43,139 crore. These include the Mundra I and II, which will have four sub-critical generation units of 330 MW each. The units are expected to commence operations from January 2009 and would be fully commissioned by October that year.

It further said there is a proposal to fund 20 per cent of the project cost through equity and the remaining through third party debts and it is offering 14.35 per cent shares as part of the public issue, excluding the pre-IPO placement.

The funding proposals, as per the DRHP, include Rs 5,630 crore from the IPO, Rs 1,332 crore from the existing equity/internal accruals and Rs 26,854 crore from third party debt.

As the premium for the equity share will be decided later through the book-building route, the company may raise more resources to make up for the shortfall, it said.

The DRHP has further said that the public issue size would be reduced to the extent of such pre-IPO placement, subject to a minimum net issue size of 10 per cent of the post issue paid-up capital.

Expressindia : Monday , May 05, 2008

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Mundra Port and Special Economic Zone, a part of the Adani group and the developer and operator of Mundra Port in Gujarat, reported a phenomenal rise in standalone net profit for the fourth quarter ended March 2008 on sequential basis, helped by robust sales growth together with expansion in operating margin.

During the quarter, the profit of the company soared 73.71% to Rs 911.03 million from Rs 524.44 million in the last quarter of fiscal 2008. It reported earnings of Rs 2.26 a share during the quarter, registering 62.59% growth over last quarter.

Net sales for the quarter surged 60.04% to Rs 3,286.49 million, while total income for the quarter jumped 66.46% to Rs 3,495.59 million, when compared with the previous quarter.

During the quarter, the company witnessed sharp rise in operating margin to 71.47% as compared with 60.63% in the previous quarter.  

Shares of the company declined Rs 28.7, or 3.29%, to settle at Rs 843.05. The total volume of shares traded was 543,319 at the BSE (Wednesday).

IRIS (29 May 2008)

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Adani Enterprises Ltd has posted a 63 percent increase in its net profit at Rs 107.97 crore for the quarter ended March 31, 2008 as compared to Rs 66.20 for the corresponding quarter last year (2006-2007).

Total income of the company has increased to Rs 3921.91 crore in the quarter, up 14.4 percent as compared to Rs 3426.92 posted in the corresponding quarter last year.

Net sales by the company was posted 14.3 percent higher at Rs 3919.06 crore as compared to Rs 3426.07 crore posted in the fourth quarter last year.

BS Reporter / New Delhi May 28, 2008

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NEW DELHI: Gurgaon-based Adani Logistics is ramping up its operations. It’s all set to develop 14 inland container depots (ICDs) across the country by 2010. The investment for the project is estimated to be over Rs 1,000 crore, according to infrastructure analysts tracking the industry. Two projects at Patli in Haryana and Kishangarh in Rajasthan are already being implemented.

Depots are slated to come up in Delhi, Mumbai, Chennai, Bangalore, Coimbatore, Ludhiana, Kolkata and Nagpur. Delhi alone is likely to have five ICDs. “While major ICDs require about 90-100 acres of land, minor ones could come up on 40 acres as well,” one analyst said. The group is expanding in the logistics sector to build capacities before the dedicated freight corridors kick off so as to integrate with it later, he added. Adani Logistics is part of the Rs 18,000-crore Adani Group.

Adani plans to offer Customs-bound air cargo services at some of the mega ICDs and has applied to the ministry of civil aviation for the approval. The ICDs will have licence to handle both exim and domestic cargo as well as distribution centres to cater to the third-party logistics (3PL) operators.

These ICDs will be part of the group’s plans to handle cargo across the country through multi-modal transport systems. The company already runs the country’s first double-decker cargo train between Patli in Gurgaon and Mundra in Gujarat, which can carry 180 twenty-foot equivalents (TEUs) vis-à-vis the usual 90 TEUs carried by cargo trains. A few more similar lines connecting western region to the south are also in the pipeline.

It is also learnt that Adani Logistics plans to build a special transportation line to service consumer durable and FMCG freight movement from the north to the west and from the west to the south. Adani Logistics is already transporting cars via rail rakes to Mundra Port, from where they are further moved to Kochi.

In Patli, Adani Logistics has acquired 180 acres for setting up an ICD, of which 80 acres have been developed. The ICD has been developed with a land cost of Rs 90 crore and construction cost of Rs 78 crore.

9 Jun, 2008, 0221 hrs IST,Gunjan Pradhan Sinha, TNN

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Ahmedabad (PTI): Adani Wilmar's Fortune range of edible oil has won the `Readers Digest Trusted Brand Award' for the third consecutive year.

Readers Digest Asia Trusted Brands Survey (previously known as Readers Digest SuperBrands) was launched in 1999 and has been carried out annually since last 10 years.

These awards have been presented in India since last three years and Adani Wilmars Fortune has won this award thrice since its inception, a statement from the company said.

Adani Wilmar Ltd, a Rs 3,200 crore company is a joint venture between the Adani Group of India and Singapore-based Wilmar International Ltd.

THE HINDU / Thursday, May 22, 2008

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