ADVERTISEMENT

Last Updated:
2024-03-21 21:29:16

Adani Group

Indian multinational conglomerate headquartered in Ahmedabad.
Indian multinational conglomerate headquartered in Ahmedabad.

Adani Group, founded in 1988 by Gautam Adani, operates in various sectors including sea and airport management, electricity generation, mining, natural gas, and infrastructure. It faced significant controversies and lost value due to fraud allegations and market manipulation.

Community for Timeline Editors
Place where unique editors like you interact
1988-01-01
Adani Enterprises

Adani Enterprises is a diversified conglomerate company based in India, with business interests in sectors such as energy, infrastructure, and logistics.

1988
Establishment of Adani Group

Adani Group was founded in 1988 by Gautam Adani and has since become one of India's largest conglomerates with diverse operations in sectors such as ports, energy, agribusiness, real estate, and financial services.

1988-07-20
Foundation of Adani Group

The Adani Group was established in 1988 by Gautam Adani as a trading business in Ahmedabad, Gujarat. It has since expanded to various sectors including port management, electric power generation, renewable energy, and infrastructure.

1990
Expansion of Adani Group's Trading Business

At the start of 1990, Adani Group's trading business expanded from imports and exports of raw materials to include finished goods. This expansion laid the foundation for the group's growth into energy, infrastructure, logistics, ports, mines, and renewables.

1991
Contract from Gujarat State Government

A significant contract from the Gujarat state government marked a pivotal moment in the Adani Group's journey, enhancing its credibility and enabling bold business decisions. The financial influx from this contract provided the group with stability for expansion and diversification.

1991
Securing significant contract from Gujarat government

In 1991, Adani Group marked a turning point by securing a major contract from the Gujarat government, setting the stage for its future growth and expansion.

1993
Expansion into global commodity trading

In 1993, Adani Group expanded its operations into global commodity trading, further diversifying its business portfolio.

1993-03-02
Adani Group incorporated as a limited company

In 1993, the Adani Group was officially incorporated as a limited company by converting the firm M/s. Adani Exports.

1994
Listing of Adani Enterprises on Indian Stock Exchange

In 1994, Adani Enterprises, a part of the Adani Group, was officially listed on the Indian Stock Exchange, signaling a significant milestone in their corporate journey.

1995
Adani Group's Venture into Port Development Sector

In response to the growing demand for well-developed ports in India due to industrialization and globalization, the Adani Group entered the port development sector in 1995. The Mundra Port project, the group's first step in this sector, later became India's largest private port, solidifying Adani Group's presence in the industry.

1995
Adani Group's Venture into Port Development Sector

In response to the increasing demand for well-developed ports in India due to industrialization and globalization, the Adani Group entered the port development sector in 1995. The Mundra Port project, their first step in this sector, later became India's largest private port, solidifying the group's presence in the industry.

1996-01-01
Adani Power

Adani Power is a leading private thermal power producer in India, with a strong focus on sustainable and efficient energy generation.

1997-06
GCC Export Appreciation Award to Adani Exports Ltd

Adani Exports Ltd received the GCC Export Appreciation Award for the year 1997-98 in recognition of their commendable performance in merchandise exports from Honorable Union Commerce Minister Shri Ramakrishna Hegde in June 1997.

1998-05-26
Operationalization of Mundra Port

On 26th May 1998, Mundra Port, the first private port in India built by the Adani Group, became operational, paving the way for their expansion into the infrastructure sector.

1999-01-01
Adani Wilmar

Adani Wilmar is a leading manufacturer of edible oils and food products, with a strong presence in the consumer goods industry in India.

1999-05-15
Expansion of Adani Group

The Adani Group continued its growth and expansion in various sectors such as port management, electric power generation, renewable energy, and infrastructure.

2000
Expansion into Energy, Agribusiness, Real Estate, and Financial Services

Adani Group further expands its portfolio by venturing into energy, agribusiness, real estate, and financial services, solidifying its position as a major player in India's economy.

2001
Expansion of Mundra Port Operations

In 2001, the Mundra Port project reached a significant milestone with the commencement of operations, showcasing Adani Group's efficiency in project delivery and infrastructure development. This event marked a pivotal moment in the history of private port development in India.

2001
Operationalization of Mundra Port

The commencement of Mundra Port in 2001, just a year after its initiation, was a significant milestone for the Adani Group, showcasing its efficiency and expertise in infrastructure development. This project marked a new era in private port development in India.

2002
Adani Enterprises Goes Public

In 2002, Adani Enterprises, the flagship company of the Adani Group, became a publicly-traded company, which was a crucial step in its development. This move allowed the group to enhance its financial position and attract more investors, paving the way for future growth and diversification.

2002
Adani Enterprises goes public

In 2002, Adani Enterprises, the flagship company of the Adani Group, became a publicly-traded company, which was a major milestone for the group. This move enhanced the group's financial position and increased its recognition among investors and stakeholders, allowing for further growth and diversification.

2003
Tie-up with Shanxi Corporation for Coal Supply

Shanxi Corporation partnered with Adani Exports Ltd. to supply 1-1.5 million tonnes of coal in India.

2005
Adani Gas Ltd. Establishment

Adani Group established Adani Gas Ltd. in 2005, contributing to the group's diversified business ventures.

2006
Establishment of Adani Wilmar Limited

In 2006, the Adani Group ventured into the agribusiness sector by establishing Adani Wilmar Limited. This strategic decision was driven by the sector's growth potential and demand. It marked the group's entry into the edible oil business, expanding its business portfolio.

2006
Establishment of Adani Wilmar Limited

In 2006, the Adani Group expanded into the agribusiness sector by establishing Adani Wilmar Limited. This strategic move was aimed at tapping into the potential growth and demand in the agribusiness industry, marking the group's entry into the edible oil business and diversifying its business portfolio.

2007
SEBI Prohibition on Adani Companies for Stock Market Rigging

In 2007, SEBI banned multiple Adani companies from trading securities for two years due to their involvement in a stock price manipulation scheme between 1999 and 2001. The manipulation was linked to India's biggest stock market scandal overseen by Ketan Parekh.

2008-11-26
Gautam Adani Hostage in The Taj Attack

Gautam Adani was held hostage during the 26/11 terrorist attack on The Taj Hotel in Mumbai.

2009
Adani Power Limited IPO

In 2009, Adani Power Limited conducted its Initial Public Offering (IPO), allowing the company to raise funds by offering shares to the public for the first time. This move helped in increasing the company's capital base.

2009-12-01
Launch of Reliance Power's Adani Power

Adani Power, a part of Reliance Power, was launched on December 1, 2009, and has been actively involved in power generation and transmission projects.

2010
Adani Group's Investment in Australia's Carmichael Coal Mine and Rail Project

In 2010, the Adani Group made its first significant international investment by venturing overseas and investing in Australia's Carmichael Coal Mine and Rail Project. This move marked a new growth phase for the company and showcased its ability to undertake large-scale projects outside India.

2010-02-27
Arrest of Rajesh Adani for Tax Evasion

On 27 February 2010, Rajesh Adani, the managing director of Adani Enterprises Ltd., was arrested for custom duty evasion. The Adani Group faced further allegations of diverting funds to tax havens overseas, with detailed evidence published by The Guardian.

2011
Adani Power becomes India's largest private thermal power producer

Adani Power emerged as the leading private thermal power producer in India, showcasing the Adani Group's capabilities and dominance in the power industry through strategic planning, execution skills, and visionary leadership.

2011
Adani Power Becomes India's Largest Private Thermal Power Producer

Adani Power emerged as the largest private thermal power producer in India, showcasing the Adani Group's capabilities and influence in the power industry. The company's success was attributed to strategic planning, execution skills, and visionary leadership.

2012
Privatization of Mundra Port in Gujarat

In 2012, the government privatized the Mundra port in Gujarat. Adani's strong political connections and relationships played a crucial role in securing the contract, marking a significant turning point in Gautam Adani's life.

2013
Adani Group initiates world's largest single-area solar power project in Gujarat

Adani Group showcased its expertise in sustainable energy by commencing work on the world's largest single-area solar power project in Gujarat, highlighting India's commitment to renewable energy sources.

2013
Adani's World's Biggest Single-Area Solar Power Project in Gujarat

Adani Group initiated the construction of the world's largest single-area solar power project in Gujarat, showcasing its expertise in sustainable energy. This project was significant for both the Adani Group and India, emphasizing the country's commitment to renewable energy.

2014-01
Acquisition of Dhamra Port in Odisha

The Adani Group expanded its port operations by acquiring the Dhamra Port in Odisha, strategically broadening its geographical reach and increasing port capacity.

2017-12-22
Adani Group's Acquisition of Reliance Infrastructure's Power Arm

On 22 December 2017, the Adani Group acquired the power arm of Reliance Infrastructure for ₹18,800 crore (US$2.89 billion).

2018-12
Formation of Adani Water

Adani Water, established in December 2018, focuses on water infrastructure projects including wastewater treatment and recycle initiatives at Prayagraj under the National Mission for Clean Ganga Framework.

2019-02
Adani Total Gas Ltd. Stock Price Increase

During the 5-year period from February 2019 to 2024, Adani Total Gas Ltd. reported a substantial 59.7% increase in its stock price.

2019-02
Adani Enterprises Limited CAGR

Adani Enterprises Limited reported a Compound Annual Growth Rate (CAGR) of nearly 93.2% between February 2019 to February 2024 in its share price.

2019-10
TotalEnergies' Stake Acquisition in Adani Gas

In October 2019, French oil and gas company TotalEnergies purchased a 37.4% stake in Adani Gas for ₹6,155 crore (US$874.04 million) and gained joint control of the company.

2020-04
Acquisition of Alpha Design Technologies Pvt Ltd.

In April 2020, Adani Defence Systems and Technologies acquired Alpha Design Technologies Pvt Ltd., a company specializing in defense electronics and avionics.

2020-09
Acquisition of 51% Stake in PLR Systems Private Ltd.

In September 2020, Adani acquired a 51 percent stake in PLR Systems Private Ltd, a company involved in manufacturing and supplying defense equipment to the armed forces.

2021-06-11
Incorporation of Adani Cement Industries Limited

Adani Cement Industries Limited (ACIL) was established by the Adani Group on June 11, 2021 in Gujarat, India. It is a wholly-owned subsidiary of Adani Enterprises and is yet to commence its business operations.

2022-08-29
Adani Group Market Capitalization

As of August 29, 2022, Adani Group's combined market capitalization exceeded $242.73 billion. The group is comprised of 7 publicly listed entities with diverse business interests.

2023-01-24
Market Capitalization Erosion of Adani Group

On 24 January 2023, Adani Group's market capitalization suffered a massive erosion of Rs. six lakh crore due to the aftermath of the Hindenburg Research report. This marked a significant loss in the share price history of the group.

2023-01-27
Hindenburg Research Report on Adani Group Stock Manipulation

In January 2023, Adani Group was accused of stock manipulation by Hindenburg Research, causing a significant drop in Adani Group stocks and leading to Adani's ranking dropping from the 3rd richest person to 22nd on Forbes' billionaires tracker.

2023-01-29
Adani's Response to Hindenburg Report

On 29 January 2023, Adani released a 413-page response to the Hindenburg report, refuting the fraud allegations and criticizing Hindenburg's conduct.

2023-02-01
Adani Cancels Follow-on Public Offer (FPO)

On 1 February 2023, Adani cancelled its planned $2.5 billion Follow-on Public Offer (FPO) citing market volatility and returned the FPO money to investors.

2023-02-24
Adani Enterprises Limited Stock Returns

Adani Enterprises Limited stock returned 77.8% in a year between February 2023-24.

2023-02-24
Adani Enterprises Limited Returns

Adani Enterprises Limited stock returned 77.8% in a year between February 2023-24.

2023-03-31
Number of Subsidiaries and Partnership Firm in Adani Group

As of March 31, 2023, the Adani Group had a total of 55 subsidiaries and one partnership firm, as reported in the Annual Report 2022-23.

2023-03-31
Number of Subsidiaries and Partnership Firm in Adani Group

As of March 31, 2023, there were 55 subsidiaries and one partnership firm in the history of Adani Group.

2023-04-05
Adani Group History and Recent Stock Volatility

The Adani Group has faced stock price volatility after the Hindenburg report was published, impacting various industries. This article delves into the history of the Adani Group and its companies, analyzing its rapid growth.

2023-05-19
Supreme Court Committee's Inconclusive Findings

On 19 May 2023, a committee formed by the Supreme Court of India communicated its inability to conclude regarding the accusation of stock price manipulation by Adani Group due to insufficient information.

2023-06-04
Article by Tanushree Jaiswal

An article about the history of Adani Group was published by Tanushree Jaiswal on June 4, 2023.

2023-06-24
Investigation by U.S. Authorities on Adani Group

On 24 June 2023, the United States Department of Justice and U.S. Securities and Exchange Commission started investigating Adani Group's communications with U.S.-based investors.

2023-08-31
Allegations of Funds Directed into Adani Group Stocks

On 31 August 2023, the Organized Crime and Corruption Reporting Project alleged that substantial funds were directed into Adani Group stocks through opaque investment funds.

2024-01-03
Supreme Court Orders SEBI Probe Completion

On January 3, 2024, the Supreme Court ordered SEBI to complete its probe into Adani Group within 90 days, following allegations from Hindenburg Research.

2024-02-05
Market Capitalization Erosion of Adani Group

By February 5, 2024, the market capitalization of Adani Group had decreased from Rs. 19.19 lakh crore on January 24, 2023, to Rs. 13.3 lakh crore. This erosion in market value was a result of the impact of the Hindenburg Research report and the subsequent events.

2024-02-07
Gautam Adani's Ranking on Bloomberg Billionaires Index

As of February 7, 2024, Gautam Adani holds the 14th position on the Bloomberg Billionaires Index with a net worth of $97.9 billion. This highlights his significant success and wealth accumulation.

End of the Timeline
Adani Group

Information

Adani Group

Indian multinational conglomerate headquartered in Ahmedabad.
Last Updated:

🫵Contribute to this content!
Your input benefits people around the world
See something to add or edit? Simply click the edit button below to make a difference! All you need is a quick sign in.
💬Join our discord community!
Connect and collaborate
Become part of our vibrant community! Share your thoughts, ask questions, and connect with other passionate editors.
Join Discord

Event

Last Updated:

🫵Contribute to this content!
Your input benefits people around the world
See something to add or edit? Simply click the edit button below to make a difference! All you need is a quick sign in.
💬Join our discord community!
Connect and collaborate
Become part of our vibrant community! Share your thoughts, ask questions, and connect with other passionate editors.
Join Discord
Become an Editor of Timeline Wiki
Become an Editor of
Timeline Wiki
USD $0 for creating and editing infinite number of timelines after sign up.