Adani Group

Adani Group is an Indian multinational conglomerate headquartered in Ahmedabad, Gujarat, founded on 20 July 1988 by Gautam Adani as a commodity trading business. It has since expanded into sea and airport management, electricity generation and transmission, coal and other mining, natural gas, food and infrastructure, with more than 60 percent of its revenue tied to coal-related businesses, and reported revenue of about 3.09 lakh crore rupees, roughly 32 billion US dollars, and around 36,000 employees in 2024. The group became India's largest conglomerate by market value in 2022, at one point valued near 206 billion US dollars and surpassing the Tata Group, before fraud allegations published by the short seller Hindenburg Research in January 2023 wiped out more than 104 billion dollars in market value.