Adani Group Seals ₹80,000 Crore Worth Of Deals Since 2023 Crisis

Adani Group has completed 33 acquisitions worth around ₹80,000 crore since January 2023. The deals highlight the group’s continued access to funding and steady execution after the short-seller allegations that shook markets nearly 3 years ago.

The acquisitions have mainly focused on the group’s core businesses.

Ports, Cement And Power Lead The Buying Spree

Ports emerged as the largest contributor, with acquisitions worth about ₹28,145 crore. The cement business followed with deals worth ₹24,710 crore, while the power sector saw acquisitions of ₹12,251 crore.

New and incubating businesses accounted for ₹3,927 crore, while transmission and distribution added deals worth ₹2,544 crore.

Some transactions, including the planned ₹13,500 crore acquisition of debt-laden Jaypee Group, are still under process and not included in this list.

Recovery After Short-Seller Allegations

The acquisitions come as Adani Group works to rebuild investor confidence following allegations made by a US-based short seller in early 2023. The group has consistently denied all charges.

Its recovery strategy has focused on reducing debt, raising equity, tighter capital allocation and selective expansion in core sectors such as ports, cement and power.

The group’s net debt-to-EBITDA currently stands at around 3x, below its stated guidance range of 3.5x–4.5%.

Key Deals Across Sectors

The largest deal in recent years was Adani Ports’ ₹21,700 crore acquisition of Australia’s North Queensland Export Terminal in April 2025.

In cement, major deals included the acquisition of Sanghi Industries, Penna Cement, Orient Cement and ITD Cementation. The ports business added Karaikal, Gopalpur and Dar es Salaam ports, while the power sector saw acquisitions of Lanco Amarkantak, Vidarbha Industries and Coastal Energen.

The group also expanded into data centres, transmission, roads and real estate.

Read More: JK Cement Share Price in Focus Raises Stake in O2 Renewable Energy V to Support Long-Term Clean Power Strategy! 

₹10 Lakh Crore Capex Plan Ahead

Looking ahead, Adani Group has outlined a capital expenditure plan of around ₹10 lakh crore over the next five years. Growth will be driven by a mix of new projects, expansion of existing assets and selective acquisitions across infrastructure, energy and logistics.

Conclusion

Adani Group’s ₹80,000 crore acquisition spree since 2023 reflects a gradual recovery, stronger balance-sheet discipline and renewed confidence among lenders and investors despite its capital-intensive business model.

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