Adani Group: $55 Billion Lost Following Gautam Adani’s Indictment

The Adani conglomerate has lost $55 billion in market capitalization following corruption charges against its CEO, Gautam Adani, in the United States. The case has shaken markets and jeopardized its international partnerships.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

The market capitalization of Adani Group, one of India’s largest conglomerates, has plummeted by an estimated $55 billion. This sharp decline follows the indictment of its founder and CEO, Gautam Adani, by the U.S. Department of Justice in a high-profile corruption case.

According to a statement from the group, this loss concerns the 11 publicly listed companies within the Adani portfolio. Gautam Adani is accused of orchestrating a bribery network worth $250 million, aiming to secure contracts in the solar energy sector in India. The federal prosecutor in Brooklyn (United States) revealed that these payments were allegedly made to Indian officials through executives and intermediaries associated with the group.

Accusations and Reactions

The indictment also accuses Gautam Adani and other executives of financial fraud, particularly for concealing these corruption practices while seeking funds from international and U.S. investors. Adani Group has categorically denied these accusations, labeling them as “baseless,” and expressed its intent to challenge them in court.

The group, however, clarified that Gautam Adani, his nephew Sagar Adani, and the head of its subsidiary Adani Green Energy were not directly charged with corruption but with violations related to financial market regulations.

International Repercussions

The case has also prompted scrutiny of the group’s international projects. Several countries, including Bangladesh, Sri Lanka, and Kenya, have announced investigations into existing partnerships or ongoing projects involving Adani. Kenya has even declared the cancellation of a major partnership.

This crisis comes as the conglomerate was already under the spotlight for allegations of stock manipulation earlier this year. These recent events, combined with current accusations, are undermining investor confidence and raising concerns about governance within the group.

An Empire at Risk?

Adani Group, known for its diversified activities spanning coal mining, renewable energy, ports, airports, and media, is facing growing pressure. Gautam Adani, a close ally of Indian Prime Minister Narendra Modi, is seeing his reputation tarnished as international investors reassess the group’s long-term viability.

The upcoming weeks will be crucial for the conglomerate. Legal proceedings in the United States and investigations announced in several countries could determine the future of its strategic projects, particularly in renewable energy, a sector critical to its growth.

France opens a national consultation on RTE’s plan to invest €100 billion by 2040 to modernise the high-voltage electricity transmission grid.
Governor Gavin Newsom orders state agencies to fast-track clean energy projects to capture Inflation Reduction Act credits before deadlines expire.
Germany’s energy transition could cost up to €5.4tn ($6.3tn) by 2049, according to the main industry organisation, raising concerns over national competitiveness.
Facing blackouts imposed by the authorities, small businesses in Iran record mounting losses amid drought, fuel shortages and pressure on the national power grid.
Russian group T Plus plans to stabilise its electricity output at 57.6 TWh in 2025, despite a decline recorded in the first half of the year, according to Chief Executive Officer Pavel Snikkars.
In France, the Commission de régulation de l’énergie issues a clarification on ten statements shared over the summer, correcting several figures regarding tariffs, production and investments in the electricity sector.
A group of 85 researchers challenges the scientific validity of the climate report released by the US Department of Energy, citing partial methods and the absence of independent peer review.
Five energy infrastructure projects have been added to the list of cross-border renewable projects, making them eligible for financial support under the CEF Energy programme.
The Tanzanian government launches a national consultation to accelerate the rollout of compressed natural gas, mobilising public and private financing to secure energy supply and lower fuel costs.
The Kuwaiti government has invited three international consortia to submit bids for the first phase of the Al Khairan project, combining power generation and desalination.
Nigeria’s state-owned oil company abandons plans to sell the Port Harcourt refinery and confirms a maintenance programme despite high operating costs.
The publication of the Multiannual Energy Programme decree, awaited for two years, is compromised by internal political tensions, jeopardising strategic investments in nuclear and renewables.
The US Energy Information Administration reschedules or cancels several publications, affecting the availability of critical data for oil, gas and renewables markets.
Brazilian authorities have launched a large-scale operation targeting a money laundering system linked to the fuel sector, involving investment funds, fintechs, and more than 1,000 service stations across the country.
A national study by the Davies Group reveals widespread American support for the simultaneous development of both renewable and fossil energy sources, with strong approval for natural gas and solar energy.
The South Korean government compels ten petrochemical groups to cut up to 3.7 million tons of naphtha cracking per year, tying financial and tax support to swift and documented restructuring measures.
The U.S. Department of Energy has extended until November the emergency measures aimed at ensuring the stability of Puerto Rico’s power grid against overload risks and recurring outages.
Under threat of increased U.S. tariffs, New Delhi is accelerating its energy independence strategy to reduce reliance on imports, particularly Russian oil.
With a new $800 million investment agreement, Tsingshan expands the Manhize steel plant and generates an energy demand of more than 500 MW, forcing Zimbabwe to accelerate its electricity strategy.
U.S. electric storage capacity will surge 68% this year according to Cleanview, largely offsetting the slowdown in solar and wind projects under the Trump administration.

Log in to read this article

You'll also have access to a selection of our best content.