The company was incorporated in 1993 under the name Adani Exports Limited.[6] It mainly deals with the group's integrated resources management, power trading, and natural resources businesses on a standalone basis.[7] Its general purpose is to act as an in-houseincubator forAdani Group's new businesses until they become self-sustainable.[8][9]
It is a defense manufacturing arm of the company. It manufactures with armed drones such asDrishti 10 Starliner UAV[28] and small arms such asIWI Negev,Tavor TAR-21, andIWI ACE.[29] As a part of a joint venture betweenElbit Systems from Israel and Adani Defence and Aerospace, a manufacturing facility forunmanned aerial vehicle have been set up atHyderabad,Telangana, inaugurated in 2019.[30][31] In April 2020, Adani Defence Systems and Technologies acquired Alpha Design Technologies Pvt Ltd., an organization involved in the design, development, and manufacture of defense electronics and avionics.[32]
In September 2020, Adani acquired a 51 percent stake in PLR Systems Private Ltd which was incorporated in 2013 and engages in manufacturing and supply of indigenously built defense equipment to the armed forces.[33] In May 2022, Adani Defence Systems and Technologies, a wholly owned subsidiary of Adani Enterprises, signed a definitive agreement to acquire a 50% stake in Bengaluru-based General Aeronautics.[34] The company is involved with DRDO inLong-range Guided Bomb,VSHORAD,ULPGM,NASM-SR andRudram-1.[35][36]
In February 2024, Adani Defence & Aerospace inaugurated two ammunition and missile manufacturing facilities in the Uttar Pradesh Defence Corridor at Kanpur. Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the Ammunition & Missiles Complex, marking the first phase of the state's defence corridor. These facilities are designed to produce various calibres of ammunition and missiles for the Indian armed forces and police. The complex spans 500 acres and will produce 150 million rounds of small-calibre ammunition, covering 25% of India's annual requirement.[37][38]
In June 2024, Adani Defence and Aerospace andEDGE Group, aUAE-based technology and defence organisation, entered a cooperation agreement. The collaboration covers missiles, weapons, unmanned systems, air defence products, and electronic warfare technologies with potential R&D and production facilities in India and theUAE.[41]
In May 2025, Adani Defence & Aerospace has signed a binding collaboration agreement withSparton (DeLeon Springs LLC), a group company ofElbit Systems, to manufactureanti-submarinesonobuoys in India.[42]
Adani Enterprises operates its mines in India, Indonesia and Australia, and supplies coal to Bangladesh, China, and some countries in Southeast Asia. It has a coal mine inBunyu,North Kalimantan, Indonesia, which produced 3.9 Mt of coal in 2016–17. The Group has made the largest investment by an Indian company in Australia at the controversialCarmichael coal mine in theGalilee Basin,Queensland. Development of this mine is as of 2020[update] the subject of a court challenge to theAustralian Government over its lack of adherence to environmental legislation.[44]
Adani Road Transport undertakes construction, operations and maintenance of roads, highways, expressways and tollways.[13] The company hasNHAI projects in the states of Andhra Pradesh,[49] Chhattisgarh,[50] Gujarat,[13] Kerala,[51] Madhya Pradesh,[52] Maharashtra,[53] Odisha,[54] Telangana,[55] and West Bengal.[56] Adani road Transport bids the highest for the 124-km stretch of National Highway 38 with Rupees 1692 crores.[57]
In December 2021, it won the contract to build a 464 km stretch of the 594 km-longGanga Expressway in Uttar Pradesh.[58]
Incorporated in 2006, Adani Shipping is aSingapore-based step-down subsidiary which operates a fleet ofbulk carriers. In 2011, it began transporting coal from the group's mines in Indonesia and Australia.[19][59]
Established in October 2019 as a full-owned subsidiary of AEL, Adani Metro Transport Limited undertakes metro rail projects.[60] Adani group also have their private railway Network.[61]
Adani Solar is thesolar PV manufacturing and EPC subsidiary of Adani Enterprises. As of November 2020, it is the largest integrated solar cell and module manufacturer in India.[62]
It was founded as a subsidiary in December 2018, with a focus on water infrastructure construction. It is currently involved in wastewater treatment, recycle and reuse projects atPrayagraj under theNational Mission for Clean Ganga Framework.[64]
Kutch Copper is a wholly owned subsidiary of Adani Enterprises which was incorporated in March 2021 to manufacture coppercathodes, copper rods and other copper products.[25] In 2022, the company was reported to be setting up agreenfield copper refinery complex atMundra with 1 million tonnes per annum (MTPA) capacity, expected to commence production in 2024.[66]
Adani Agri Fresh is involved in procurement, packaging, logistics and marketing of apples produced by farmers inHimachal Pradesh, as well as and other Indian fruits, underFarm-Pik brand.[67] It also imports fruits from other countries and sells them in the Indian market.[68]
The company went public in January 2022 with aninitial public offering, after which Adani Enterprises and Wilmar International continued to hold a combined 88% stake in Adani Wilmar.[72]
On December 30, 2024, Adani Enterprises announced plans to sell its entire 44% stake in Adani Wilmar in a $2 billion deal. The transaction includes Wilmar International acquiring a 31% stake, with the remaining 13% to be sold in the open market to meet regulatory norms.[73]
AdaniConneX was launched in 2021 as a 50:50 joint venture with EdgeConneX to develop a network of hyperscaledata centers in India, starting withChennai,Navi Mumbai,Noida,Visakhapatnam andHyderabad.[74][75][76] In 2022, AdaniConneX announced that it was building a hyperscale data center inKolkata's Bengal Silicon Valley tech hub.[15]
Adani Digital Labs was incorporated in September 2021 as a wholly owned subsidiary of Adani Enterprises, to build a digital platform for the consumers of Adani Group'sB2C businesses.[27][77] In December 2022, the company made thealpha release of themobile app, named "Adani One", with the integration of the group's airport vertical.[78] In 2023, Adani Digital Labs acquired a 100% stake in Trainman, an online train ticket booking platform.[79]
AMG Media Networks was incorporated in April 2022 as a wholly owned media and publishing subsidiary of Adani Enterprises.[23] In May 2022, AMG Media Networks announced the acquisition of a 49% stake in Quintillion Business Media Ltd, which operatesBQ Prime, for an undisclosed amount. Adani Enterprises had previously acquired an unspecified minority stake in the company in March 2022.[80] In August 2022, AMG Media Networks announced the acquisition of a 29.18% stake inNDTV through its subsidiary.[81] In December 2022, it acquired an additional 8.27% stake via atender offer[82] and 27.26% stake from the promotersRadhika Roy andPrannoy Roy, to raise its total shareholding in NDTV to over 64%.[83] In November 2023, AMG Media Networks raised its stake in BQ Prime to 100%[84] and rebranded BQ Prime asNDTV Profit, which had been shut down since June 2018.[85]
In December 2023, AMG Media Networks acquired a 50.50% controlling stake inIndo-Asian News Service (IANS).[86]
Adani Cementation or Adani Cement Industries Limited (ACIL) was incorporated in June 2021 as a subsidiary of Adani Enterprises.[90][91][92] It was reported in June 2021 that the Adani Group planned to set up a cement plant inMaharashtra which will have an initial capacity of 5-Million tonnes per annum with an approximate investment of ₹900-1,000 crore.[93] In 2024, Adani Cementation was merged withAmbuja Cements in ashare swap deal in which Adani Enterprises obtained 87lakh shares of Ambuja Cements.[94]
In 2021, Adani Enterprises acquired a 20% stake in the online travel companyCleartrip.[95] Adani Enterprises acquired a 49% stake in Maharashtra Border Check Post Network, a subsidiary of the publicly listedSadbhav Infrastructure Projects.[96]
TheCarmichael coal mine project has facedenvironmental protests across Australia since the mine was proposed in 2010.[97] The pressure from environmental groups forced international banks and financial institutions to not lend to the project, and resulted in a long delay in securing environmental clearances.[98] In 2018, Adani Group scaled down the mine's capacity and self-financed the project.[99] Anindigenous group of the region went to court seeking invalidation of theindigenous land use agreement which was approved by its representatives, but the appeal was dismissed by theFederal Court in 2019.[100] The mine made its first coal shipment in December 2021.[101]
On 24 January 2023,Hindenburg Research published the findings of a two-year investigation claiming that Adani had engaged inmarket manipulation and accounting malpractices.[102] Hindenburg also disclosed that it was holdingshort positions on Adani Group companies.[102][103][104][105] Bonds and shares of companies associated with Adani experienced a decline in value after the accusations.[106][107] Adani denied the fraud allegations as unfounded and ill-intentioned. On 26 January 2023, Adani Group expressed its intention of taking legal action against Hindenburg.[108]
₹100,365 crore (US$12 billion) (2025)[1][2]
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