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:

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.

Nearly USD92bn will be invested by major American and international groups in new data centres and energy infrastructure, responding to the surge in electricity demand linked to the rise of artificial intelligence.
Nouakchott has endured lengthy power interruptions for several weeks, highlighting the financial and technical limits of the Mauritanian Electricity Company as Mauritania aims to widen access and green its mix by 2030.
Between 2015 and 2024, four multilateral climate funds committed nearly eight bn USD to clean energy, attracting private capital through concessional terms while Africa and Asia absorbed more than half of the volume.
The Global Energy Policies Hub shows that strategic reserves, gas obligations, cybersecurity and critical-mineral policies are expanding rapidly, lifting oil coverage to 98 % of world imports.
According to a report by Ember, the Chinese government’s appliance trade-in campaign could double residential air-conditioner efficiency gains in 2025 and trim up to USD943mn from household electricity spending this year.
Washington is examining sectoral taxes on polysilicon and drones, two supply chains dominated by China, after triggering Section 232 to measure industrial dependency risks.
The 2025-2034 development plan presented by Terna includes strengthening Sicily’s grid, new interconnections, and major projects to support the region’s growing renewable energy capacity.
Terna and NPC Ukrenergo have concluded a three-year partnership in Rome aimed at strengthening the integration of the Ukrainian grid into the pan-European system, with an in-depth exchange of technological and regulatory expertise.
GE Vernova has secured a major contract to modernise the Kühmoos substation in Germany, enhancing grid reliability and integration capacity for power flows between Germany, France and Switzerland.
The National Energy System Operator forecasts electricity demand to rise to 785 TWh by 2050, underlining the need to modernise grids and integrate more clean energy to support the UK’s energy transition.
Terna has signed a guarantee agreement with SACE and the European Investment Bank to finance the Adriatic Link project, totalling approximately €1bn ($1.08bn) and validated as a major transaction under Italian regulations.
India unveils a series of reforms on oil and gas contracts, introducing a fiscal stability clause to enhance the sector’s attractiveness for foreign companies and boost its growth ambitions in upstream energy.
The European Commission is launching a special fund of EUR2.3bn ($2.5bn) to boost Ukraine’s reconstruction and attract private capital to the energy and infrastructure sectors.
Asia dominated global new renewable energy capacity in 2024 with 71% of installations, while Africa recorded limited growth of only 7.2%, according to the latest annual report from IRENA.
US President Donald Trump's One Big Beautiful Bill Act dramatically changes energy investment rules, imposing restrictions on renewables while favouring hydrocarbons, according to a recent report by consultancy firm Wood Mackenzie.
On July 8, 2025, the Senate validated the Gremillet bill, aimed at structuring France's energy transition with clear objectives for nuclear power, renewable energies, and energy renovation.
Brazil, Mexico, Argentina, Colombia, Chile, and Peru significantly increase renewable electricity production, reaching nearly 70% of the regional electricity mix, according to a recent Wood Mackenzie study on Latin America's energy sector.
The Canadian government announces an investment of more than $40mn to fund 13 energy projects led by Indigenous communities across the country, aiming to improve energy efficiency and increase local renewable energy use.
The German Ministry of Economy plans to significantly expand aid aimed at reducing industrial electricity costs, increasing eligible companies from 350 to 2,200, at an estimated cost of €4bn ($4.7bn).
A major electricity blackout paralyzed large parts of the Czech Republic, interrupting transport and essential networks, raising immediate economic concerns, and highlighting the vulnerability of energy infrastructures to unforeseen technical incidents.