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Adani Energy Solution (<keyword id="20373155" type="General" weightage="20" keywordseo="aeml" source="keywords">AEML</keyword>) on Monday posted over 27% decline in its consolidated net profit to Rs 348.25 crore in the October-December quarter compared to the year-ago period. The country's e largest private power transmission and distribution company had reported a consolidated net profit of Rs 478.07 crore in the quarter ended on December 31, 2022, driven by a one-time regulatory income of Rs 240 crore. AEML in an exchange filing explained that the net profit in the third quarter of this fiscal includes a miscellaneous income of Rs 136 crore on account of the USD 120 million bond buy-back. The comparable PAT of Rs 281 crore was 1% higher compared to Rs 280 crore in the year-ago quarter. Total income rose to Rs 4,824.42 crore in the third quarter of FY24 from Rs 3,719.31 crore in the same period a year ago. On operational parameters, it was a strong quarter with an average system availability of over 99.7%, it stated. The business added 302 circuit kilometres during the quarter and ended with a transmission network of 20,422 circuit km. The company sold 2,489 million units against 2,169 million units last year on account of an uptick in energy demand primarily driven by higher industrial share. Distribution loss has been improving consistently and stands at 5.46% in the third quarter of FY24 and maintained supply reliability at over 99.9%. It has under-construction transmission pipeline worth Rs 17,000 crore and is well on track from the execution point of view. The company is on track to commission the MP-II package (partial), the Khavda-Bhuj (partial), and the WRSR lines in the coming quarters. The near term (12-24 months), tendering pipeline for the industry is buoyant and upwards of Rs 1.10 lakh crore under various stages of bidding. The distribution business continues to show a steady performance with double digit growth and consistently increasing RAB (regulatory asset base), supported by internal accruals. Total RAB for the distribution business has now reached Rs. 7,823 crores from Rs. 5,532 crores at the time of acquisition in 2018. The under-implementation pipeline now stands at 21.1 million smart meters, comprising nine projects with a contract value of over Rs. 25,000 crores. The untapped market comprises 135 million smart meters, as the government's official target is 250 million by 2026, it added. "Our growing portfolio with newly commissioned lines, coupled with favourable energy demand, continues to drive our growth," said <keyword id="19941197" type="General" weightage="20" keywordseo="anil-sardana" source="keywords">Anil Sardana</keyword>, MD, <keyword id="18168082" type="General" weightage="100" keywordseo="adani-energy-solutions" source="Orion">Adani Energy Solutions</keyword> in a statement. Kandarp Patel, the CEO of Adani Energy Solutions Ltd said that the smart metering segment is consistently growing besides the existing T and D established industry position. To offer smart and tech-enabled smart metering solutions, our partnership with <keyword id="19896909" type="General" weightage="20" keywordseo="airtel" source="keywords">Airtel</keyword>, Esyasoft, AdaniConnex will be very fruitful and will immensely augment our offering, Patel added. AEML, the Mumbai distribution business witnessed an increase in the energy consumed by 14.8%. It saw one of the lowest distribution losses of 5.46% and added new consumers, reaching 3.16 million on the back of reliable and affordable power supply.

Adani Energy Solutions net profit down 27% to Rs 348 cr in Q3

Adani Transmission Ltd (<keyword id="447291" type="General" weightage="80" keywordseo="atl" source="Orion">ATL</keyword>), India's largest private power distribution company and the transmission arm of the diversified <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword>, has submitted its Green House Gases (GHG) emission reduction plans, focussing on Science Based Targets initiative (SBTi), an international drive for containing global warming. ATL has submitted its detailed plan and targets for GHG emission reduction to SBTi within one year towards its commitment to contribute to contain global warming. As a part of its continued focus on sustainable growth and its net zero journey, ATL committed for the SBTi in October 2021. ATL will act in alignment with the much-needed climate action and devise a strategy to restrict global warming to 1.5 degree Celsius. To meet these targets associated with the SBTi commitment, ATL has rolled out definite strategies. In a first-of-its-kind initiative in the country, ATL's subsidiary AEML (Adani Electricity Mumbai Ltd) has introduced green tariffs, which enables AEML consumers to opt for green energy and receive a Green Power Certificate every month. This initiative is popular with consumers who wish to reduce their carbon footprint. "We take seriously all initiatives focused on contributing to India's climate commitment through resolute climate action," said <keyword id="175186" type="General" weightage="50" keywordseo="anil-sardana" source="Orion">Anil Sardana</keyword>, MD &amp; CEO, Adani Transmission Ltd. "Submitting targets for the SBTi reiterates our commitment to devising sustainable ways of doing business. It also reinforces India's efforts to reduce climate risk through individual and collective action. A culmination of several smaller actions such as energy efficiency initiatives at sub-stations, de-linking of substations from the grid for auxiliary power while connecting them with solar energy, and introduction of efficient transmission lines aimed at reducing losses, combined with wider actions such as introduction of green tariff at AEML, will significantly contribute towards achieving positive climate action." Signing up for the SBTi is an important step in the context of India's commitments to the Paris Climate Agreement. ATL became a signatory of UN Energy Compact at COP26 held in Glasgow in 2021. Through SBTi, companies are setting science-based emissions reduction targets - across their entire value chain - that are consistent with keeping global warming at 1.5 degree Celsius above pre-industrial levels. SBTi committed companies get 24 months to submit their targets. ATL, after committing to SBTi in Oct 2021, is one of the few companies to submit the emission reduction targets within one year. SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (<keyword id="1044129" type="General" weightage="50" keywordseo="wri" source="Orion">WRI</keyword>) and the <keyword id="62483" type="General" weightage="50" keywordseo="world-wide-fund-for-nature" source="Orion">World Wide Fund for Nature</keyword> (<keyword id="18630" type="General" weightage="50" keywordseo="wwf" source="Orion">WWF</keyword>). It defines and promotes best practices in science-based target setting and independently assesses companies' targets. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rec-gets-maharatna-company-status/articleshow/94368132.cms">REC gets 'Maharatna' company status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-slumps-51-paise-to-all-time-low-of-80-47-against-us-dollar/articleshow/94367387.cms">Rupee slumps 51 paise to all-time low of 80.47 against US dollar</a>

Adani Transmission to become net-zero by 2050

CEO and MD of <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> Anil Sardana has turnaround Tata Power Delhi Distribution story and under this, the discom has scripted a success story.<o:p></o:p>

	Sardana, who has worked with NTPC, BSES in his career spanning more than three decades, is not only a well-known name in the energy sector but is also known for his acumen and no-nonsense style of functioning.<o:p></o:p>

	Sardana’s immediate colleagues say they learn a lot from him and handles toughest of situations with aplomb. <o:p></o:p>

	Serving as the Executive Director (Business Development &amp; Strategy) for Tata Power in 2007, Sardana continued to be on its board till July 2008. Sardana was also the Managing Director of Tata Teleservices Limited for over three years from 2007 to 2011.

	In a free-wheeling interview with Anupama Airy, Sardana spoke about Tata Power’s growth plans and strategies.

	Q: What do you think about the emerging mix of thermal, hydel and renewable energy in the country?

	A: I am happy to see the emerging focus on green energy but on the way forward, as far as long-term sustainable investments in the power sector are concerned, what we need is a policy that defines the energy mix that the country would have in next 5-10-15 years. This clarity will help companies plan their investments in a more systematic manner. Also, this will bring corrections in tendencies to undertake one genre of generation option. For example, while country talks about commitment towards Hydro, our actual portfolio shows dwindling hydro share which is now down to all time low of 14%. It is therefore important to have a guideline on portfolio mix that states should adopt, so that all genres are developed, as per energy security guidance. And above all and before we talk of generation, we need to first improve the off-take and distribution.

	Q: But we have the UDAY scheme for reforming the distribution side and also the state finances? 
	 
	UDAY is an excellent initiative and some states have also come forward and signed agreements. But such schemes existed before as well, albeit in different forms. State power distribution companies have to commit themselves and look at turnaround on a sustainable basis. Given the incentives offered under UDAY, some states have come forward to join scheme in line with the operational and financial efficiency parameters set in the agreements with distribution companies. It is also for the first time that all these agreements have been made public and I must admit that contains an excellent set of deliverables from states and the discoms. It is for the first time that such an elaborate and micro level documentation has been made. It is now to be seen as to how many states on ground level would be able to manage discernible change.

	Interestingly there is also no mention about change through PPP or privatisation in the distribution sector, in case the promised changes were not met.

	Now, if states actually follow the parameters laid under UDAY, the delivery of power with reduced AT&amp;C losses will become a surety. The regulators have to be more proactive in their approach. Else the investment won’t flow just because the opportunity lies. The viability has to be assured before fresh investments flow into generation projects. One has to wait and see how distribution companies respond to this.

	Q: Presently, India’s installed capacity is close to 3 lakh MW but only about 1,40,000 MW or so is available which is less than 50%. So why do we need more generation? 
	 
	See, it is not that demand is not there. Our per capita consumption is 1000 KwH compared to global average is 3000 KwH. Do you know that at least 60-90,000 MW capacity is stacked up by industry as standby back up and thus very high cost power is being produced by the industry using diesel gensets.

	Now, this same requirements can be met out of the available electricity and through the grid, which is a much cheaper option for the industry than spending close to Rs 14-16 a unit on DG set power. So if industries can be assured of stable and quality power, the entire DG generated power can get replaced from this unutilized power that you spoke of. The industry is ready to pay provided the power supply is predictable. Similarly, all out efforts need to be made to enhance off take and per capita consumption.

	Q: What are the investment plans of Tata Power?

	Tata Power’s investment verticals are India and neighbours; Africa; Middle East &amp; Turkey; and Southeast Asia. Going by my past five years’ experience, Tata Power hasn’t taken any decision of investment in India other than renewable. All decisions have gone to the other three geographical verticals. For the simple reason that we found that the rewards were more and risks could be mitigated there. The only investment that has really gone well in India is the renewable. I cannot assure you that we have a particular strategy to invest in India or abroad and it’s simply a function of risk-reward profile.

	Q: Is reducing the cost of coal prices is a big positive for companies like Tata Power? 

	All our assets are performing at good operational level, with our average PLF at over 70%. Most of our power assets are doing well and the robust growth is evident in our results.

	Q: Tata Power is seen concentrating more on non-fossils segment than thermal based projects. What are your expansion plans?

	Well, we don’t have any specific target for geography nor on a specific portfolio. We are investing in India and abroad wherever we see a viable project with reasonable returns &amp; controllable risks. Besides India, we are focussing in three geographies –Southeast Asia, Middle East and Africa. For the Southeast Asian region, we have our headquarters in Indonesia, for Africa it’s in Johannesburg while for Middle East region, we are based out of Turkey in Istanbul. Even in these regions, the investment decisions are based on viability parameters, mitigable risks and returns that are above the threshold.

	Q: But we see the company focussing more on global projects lately…. 
	 
	Like I said, we don’t have any identified projects or places where we should invest or not. Yes the reason for most of our investments in projects outside India is simply because of faster approvals and clearances. We go wherever we can add value for our shareholders.

	Q: Given your experience in Mundra UMPP, will you go for another UMPP as we hear two are on the radar. How has the journey been for Tata Power when it comes to Mundra especially as the coal comes from your mines in Indonesia where change in laws increased the imported coal prices. 
	 
	We do not have any pre-conceived notions and we evaluate a project as the opportunity comes. If another UMPP is offered with all risks covered, we will surely go ahead. If the final bid documents address all risks that a developer has to deal with, we will surely look at the new UMPPs on offer. And when you talk of the impact of higher coal prices on cost of power, the impact is just 25 paise a unit and we still continue to be one of the cheapest. It is easy for me to keep earning my fixed costs with 80% availability but it’s sad that states &amp; country is losing advantageous lowest cost power. The states are bureaucratic to not decide to procure power at low cost. In one of the meetings, a Government Finance expert told procuring states that by not taking a pragmatic call you are sitting on rights of buying 100% of ZERO. Also, unfortunately there is no policy to guide extra availability &amp; extra power into the grid and offer to those who want it at rates inclusive of compensatory tariff and ready to buy. Presently, with lower coal fuel prices, Mundra’s performance is much better compared to what it had been doing in the past though under recovery will continues.

	Q: After successful operations in Delhi, are you open to taking up more distribution franchisee?

	We are ready to take distribution provided states are ready to privatize and offer distribution business to private players.

	<o:p> </o:p>(Anupama Airy is the Founder and Editor of EnergyInfraPost.com and DefenceAviationPost.com. She can be reached at <a href="mailto:anupama.airy@gmail.com" target="_blank">anupama.airy@gmail.com</a>​, Twitter handle: @anupamaairy) 
	 
	(Image: Indiatimes)

Tata Power CEO Anil Sardana: The only investment that has really gone well in India is in renewable sector

<keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword>’s appointing of CEOs has been quite different from other companies in India. So the business experts of the country are curious to know who would fill the gap after Mistry’s exit from <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>. 
 Going by the record, Tata has often appointed outsiders and even foreigners to head its concerns. RK <keyword id="104932" type="PERSON" weightage="20" keywordseo="Krishna-Kumar">Krishna Kumar</keyword> moved from <keyword id="46021" type="PERSON" weightage="20" keywordseo="Tata-tea">Tata Tea</keyword> to Indian <keyword id="6368036" type="PERSON" weightage="20" keywordseo="Hotels">Hotels</keyword> in 1997. Homi <keyword id="3817876" type="UNKNOWN" weightage="20" keywordseo="khusrokhan">Khusrokhan</keyword>, who came from <keyword id="62362" type="COMPANY" weightage="20" keywordseo="Glaxo">Glaxo</keyword>, first headed Tata Tea and then moved to <keyword id="6354310" type="CITY" weightage="20" keywordseo="Tata-Chemicals">Tata Chemicals</keyword>. Firdose Vandrevala, a <keyword id="6357147" type="CITY" weightage="20" keywordseo="Tata-Steel">Tata Steel</keyword> deputy MD was moved to head <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> and was also chairman of the board for <keyword id="6359475" type="CITY" weightage="20" keywordseo="Tata-Teleservices">Tata Teleservices</keyword>. Among the current leadership at Tatas, N Srinath who heads Tata Teleservices, headed <keyword id="6370462" type="CITY" weightage="20" keywordseo="Tata-Communications">Tata Communications</keyword> in the past. Anil <keyword id="828638" type="CITY" weightage="20" keywordseo="Sardana">Sardana</keyword>, current <keyword id="3817874" type="UNKNOWN" weightage="20" keywordseo="md-of-tata-power">MD of Tata Power</keyword>, headed Tata Teleservices before Srinath. 
 There have been instances when the CEOs were removed midterm, much like Mistry. Bickson was replaced mid-tenure and <keyword id="2503475" type="PERSON" weightage="20" keywordseo="Rosling">Rosling</keyword> left unexpectedly, and so was the case of Green and Vandrevala. 
 However, <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> always preferred CEOs to have prior experience of heading companies or businesses and opted to move up CEOs from smaller companies to larger ones. 
 
While appointing Ratan Tata’s successor both the search committee and Tata himself chose Mistry amongst 6 other internal candidates. It was then told that Tata himself would mentor Mistry for a year. While the hunt for perfect candidate is still on, it’s kind of a déjà vu for Tata Sons. With hardly any time left to train new CEOs, Tata may be considering another paratrooper.

Ratan Tata’s choice of next CEO deconstructed

<keyword id="45008" type="CITY" weightage="100" keywordseo="Tata-Power">Tata Power</keyword> said its customer base in Mumbai crossed the 5 lakh mark in April. 
 "We are happy to have achieved this milestone and stay committed to delivering superior services at competitive prices," said <keyword id="175186" type="PERSON" weightage="100" keywordseo="Anil-Sardana">Anil Sardana</keyword>, Tata Power’s managing director. The company added 2 lakh new customers, consuming less than 300 units of power. 
 
Tata Power's consumers, who use less than 300 units, constitute almost 65% of its total consumers in the city. "We are undertaking steady network expansion within the city with a focus on 11 clusters and had 695 km of cable network till March," said Sardana. The company has also added seven additional distribution sub-stations and 118 consumer sub-stations. 
Image: Thinkstock

Tata Power's Consumer Base In Mumbai Surpasses
5 Lakh Mark

<keyword id="2687606" type="PERSON" weightage="20" keywordseo="Adani-Transmission">Adani Transmission</keyword> Ltd on Thursday reported a 22 per cent rise in its consolidated net profit for the April-June quarter at Rs 433.34 crore. During the same period of the last fiscal, the company had reported a consolidated net profit of Rs 355.40 crore. Its total income during the period under review was Rs 2,935.72 crore, higher by 15.45 per cent from Rs 2,542.84 crore earned during the first quarter of FY21. In a statement, the company said that the results are a validation of strong fundamentals of Adani Transmission Ltd and reiterates reliability, responsiveness and sustainability of Adani Electricity Mumbai Ltd thus creating value for ATL. "Adani Transmission is constantly evolving and growing into a trend setting organization. ATL's recent acquisitions (<keyword id="3800290" type="PERSON" weightage="20" keywordseo="APTL">APTL</keyword> and <keyword id="11798453" type="UNKNOWN" weightage="20" keywordseo="wktl">WKTL</keyword>) and robust under construction pipeline will further bolster its <keyword id="106831" type="COMPANY" weightage="20" keywordseo="pan-India">Pan-India</keyword> presence, consolidating further its position as the largest private sector transmission company in India and moving it closer to its goal of 20,000 ckt km of transmission lines by 2022," said Anil Sardana, <keyword id="176295" type="ORGANIZATION" weightage="20" keywordseo="MD-CEO">MD &amp; CEO</keyword>, <keyword id="5283750" type="COMPANY" weightage="20" keywordseo="Adani-Transmission-Ltd-">Adani Transmission Ltd.</keyword> "ATL is maintaining 24x7 quality power supply despite challenges posed by health and pandemic issues. The journey towards robust ESG framework and practicing the culture of safety is integral to its pursuit for enhanced long-term value creation for all stakeholders," Sardana added. SEE ALSO <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

Adani Transmission's net profit grows 22% in the June quarter, revenue up more than 15%

Ahmedabad, <keyword id="2687606" type="General" weightage="20" keywordseo="adani-transmission" source="Orion">Adani Transmission</keyword> Ltd (ATL), Indias largest private sector power transmission company and part of the diversified Adani Group, has received the Letter of Intent (LoI) for the acquisition of MP Power Transmission Package-II Limited, incorporated by REC Power Development and Consultancy Ltd. ATL won the project through the tariff-based competitive bidding (TBCB) process and received the LoI on September 14. ATL will build, own, operate and maintain the transmission project in the state of Madhya Pradesh for a period of 35 years. The project, 'MP Power Transmission Package-II Limited', consists of approximately 850 ckt km of transmission lines and air insulated substations of various voltage levels (220kV and 132kV) in 18 districts of Madhya Pradesh. With a capex of Rs 1,200 crore, ATL's execution of the project will strengthen the transmission system in Eastern Madhya Pradesh. Anil Sardana, MD and CEO, Adani Transmission Ltd, said, "As the leader in building power transmission infrastructure in the private sector, we are accelerating our panIndia presence through the competitive bidding process and also setting industry benchmarks in sustainable best practices. This newest project will allow us to contribute significantly to the development of the transmission infrastructure in Madhya Pradesh." Winning this project consolidates ATL's position as India's largest operating private power transmission company and takes it closer to its target of setting up 20,000 ckt km of transmission lines by 2022. The project will also allow the company to assist in growing measure the government of India's quest to achieve 'Power for All' by 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ami-organics-ipo-rewarded-investors-with-12288-profit-on-the-second-day-of-listing/articleshow/86228819.cms">Investors who had put money in this IPO made over ₹12,000 profit in 2 days</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">Indian government dials M for moratorium – Airtel, Vodafone Idea get a four-year relief on AGR dues</a>

Adani Transmission to invest ₹1,200 crore in Madhya Pradesh project

<keyword id="2688212" type="COMPANY" weightage="20" keywordseo="Adani-Transmission-Ltd">Adani Transmission Ltd</keyword> on Saturday said it has entered into a pact with <keyword id="987578" type="PERSON" weightage="20" keywordseo="Essel-Infraprojects">Essel Infraprojects</keyword> to acquire Warora-Kurnool Transmission Ltd (WKTL) for an <keyword id="174605" type="PERSON" weightage="20" keywordseo="enterprise-value">enterprise value</keyword> of ₹3,370 crore. The acquisition is in sync with <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Transmission's strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities, ATL said in a statement. ATL, India's <keyword id="11007517" type="UNKNOWN" weightage="20" keywordseo="largest-private-sector-power-transmission">largest private sector power transmission</keyword> and retail distribution company, has signed definitive agreements with Essel Infraprojects Limited (EIL) for the acquisition, it said. The regulatory approval for substitution of original awardee in the contract by ATL has already been received from the <keyword id="103658" type="COMPANY" weightage="20" keywordseo="Central-Electricity-Regulatory-Commission">Central Electricity Regulatory Commission</keyword>. The lenders consent and other necessary regulatory approvals shall be obtained before closure of transaction, the company said. With this acquisition, which is valued at an enterprise value of ₹3,370 crore, the cumulative network of ATL will reach 17,200 ckt km (circuit kilometres), out of which 12,350 ckt km is already operational and 4,850 ckt km (including this asset) is in various stages of execution. With this enhanced scale of operations, ATL will enjoy substantial benefits in terms of cost optimisation and shared resources and will also fortify its position of being the largest private sector transmission company in the country, the statement said. Anil Sardana, MD and CEO, Adani Transmission Ltd, said, "The acquisition of WKTL will bolster ATL's pan-India presence, consolidating further its position as the largest private sector transmission company in India. This strategic West to South 765 KV interconnector with Substation in Southern India, completes ATL presence in all regions of the country." This asset will not only increase ATL's size and scale but will also take ATL closer to its target of setting up 20,000 ckt km of transmission lines by 2022, he said. "The acquisition is a further demonstration of ATL's drive towards differentiated capability through inorganic growth, successful integration &amp; making such assets value accretive, for long term sustainable value creation for its stakeholders," Sardana said. Warora-Kurnool Transmission Ltd will develop, operate and maintain transmission lines aggregating to 1,750 ckt km. The 765 kV inter-state transmission line links Warora-<keyword id="6357155" type="LOCATION" weightage="20" keywordseo="warangal">Warangal</keyword> and Chilakaluripeta-Hyderabad-Kurnool with a 765/400 kV new sub-station at Warangal. The project was awarded through competitive bidding process on a build, own, operate, maintain basis. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/asteroid-apophis-wont-be-hitting-earth-for-at-least-another-century/articleshow/81719171.cms">‘God of Chaos’ asteroid Apophis won’t be crashing into Earth for at least another century</a> <a href="https://www.businessinsider.in/science/health/news/making-vaccines-available-to-indians-may-not-be-enough-it-depends-on-how-judiciously-we-employ-them/articleshow/81720507.cms">Making vaccines available to Indians may not be enough, it depends on how judiciously we employ them</a> <a href="https://www.businessinsider.in/thelife/article/madhya-pradeshs-kanha-national-park-hosts-a-special-guest-and-no-its-not-the-tiger/articleshow/81721513.cms">Madhya Pradesh’s Kanha National Park hosts a special guest. And, no, it’s not the tiger</a>

Adani Transmission to acquire Warora-Kurnool Transmission for over ₹3,370 crore

<keyword id="45008" type="CITY" weightage="100" keywordseo="Tata-Power">Tata Power</keyword>, India's largest integrated power company with a significant international presence, said that the company has signed option agreements to sell 5% stake in <keyword id="163347" type="COMPANY" weightage="100" keywordseo="PT-Kaltim-Prima-Coal">PT Kaltim Prima Coal</keyword> (KPC) for $250 million to Bakrie Group entity, to get additional cash flow as well as to reduce its consolidated debt after facing under-recovery and cash flow challenges due to its <keyword id="2407642" type="UNKNOWN" weightage="100" keywordseo="Mundra-Ultra-Mega-Power-Projects">Mundra Ultra Mega Power Projects</keyword> (UMPP) operations. 
 
Notably, the entire 30% stake in KPC related power infrastructure companies is also covered for sale in the agreement to the same entity. KPC will continue to be the part of supply chain for Tata Power Group's coal offtake requirements. 
 
Tata Power Company, however, would continue to hold 25% stake in KPC if the option is exercised. The announcement was made after market hours on Friday, 4 July 2014. 
 
"The option to partially sell KPC and its related power company has the potential to provide the company the flexibility to raise additional funds to meet the current challenges," Anil Sardana, managing director, Tata Power said. 
 
PSU oil marketing companies (OMCs) will be in focus after the Ministry of Petroleum and Natural gas stated that it is not proposing any increase in the prices of subsidised LPG and kerosene. PSU OMCs suffer under recoveries on the domestic sale of diesel, LPG and kerosene at controlled prices. 
 <keyword id="6357560" type="CITY" weightage="100" keywordseo="IDBI-Bank">IDBI Bank</keyword> said that the board of directors of the bank has approved the proposal for mobilisation in one or more tranches of Rs 4,000 crore and foreign currency resources up to $7.5 billion. 
 
Adani Ports and Special Economic Zone (APSEZ) said it has entered into an agreement with France's CMA CGM Group to develop a new common user container terminal at Mundra Port. Its construction will be initiated soon and will be completed in two years. The new terminal will be set up as a joint venture between APSEZ and CMA CGM Group.

Tata Power Signs Option Deal To Sell 5% Stake In Indonesian Coal Mine

<keyword id="46907" type="CITY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword>, the Anil Ambani-led telecom company, has come out with a <keyword id="727604" type="UNKNOWN" weightage="20" keywordseo="new-plan">new plan</keyword> for its new 4G customers, offering 1GB data for Rs 49 and 3GB data at Rs 149, along with free unlimited calls, both local and STD, within its network. 
 
Also read: <a href="http://www.businessinsider.in/anil-ambanis-reliance-capital-sells-paytm-stake-to-alibaba-for-rs-275-crore/articleshow/57513421.cms">Anil Ambani’s Reliance Capital sells Paytm stake to Alibaba for Rs 275 crore</a> 
 The plan is called '<keyword id="4275556" type="UNKNOWN" weightage="20" keywordseo="Joy-of-Holi">Joy of Holi</keyword>', and comes with a validity of 28 days. 
 
Several variants of the plan have also been announced for <a href="http://www.businessinsider.in/topic/Reliance-Communication">Reliance Communications</a>’ 3G and 2G customers, viz. unlimited 3G data access for Rs 99 and unlimited 2G data access for Rs 49. 
 
"... We still see immense potential in the 3G and 2G markets, which boast of 750 million smartphones and data-ready feature phones. We have, therefore, customised special offerings in this space as well, with segmented and value-creating propositions," Gurdeep Singh, co-CEO, Reliance Communications and CEO of RCom's Consumer Business, told ET. 
 
Also read: <a href="http://www.businessinsider.in/reliance-communications-likely-to-merge-with-tatas-to-take-on-vodafone-idea-merger-rising-power-of-reliance-jio/articleshow/57246470.cms">Reliance Communications likely to merge with Tatas to take on Vodafone-Idea merger, rising power of Reliance Jio</a> 
 
Ever since Reliance <a href="http://www.businessinsider.in/topic/Jio">Jio</a> launched its surprisingly low-priced plans, every other telecom company has come up with plans and strategies to <a href="http://www.businessinsider.in/airtel-vodafone-and-idea-are-facing-the-heat-from-jio-as-they-may-lose-upper-end-customers/articleshow/57287150.cms">stay afloat</a> in the highly competitive market. 
 
(Image source: RCom)

1GB data for Rs 49 to new 4G customers, RCom announces

<ul><li><keyword id="11085892" type="General" weightage="20" keywordseo="AdaniConneX" source="Orion">AdaniConneX</keyword> ties up a debt facility of $213 mn to finance construction of two data centres in India. </li><li>India’s data centre capacity in India is expected to double from an estimated 870 MW in FY22 to 1700-1800 MW by FY25. </li><li>This facility will help the company accelerate the construction of data centres, given that demand is showing a steady uptick. </li></ul>In a move that will accelerate plans of delivering critical digital infrastructure for building local data centres, AdaniConneX, a 50:50 joint venture between Adani Enterprises (AEL) and EdgeConneX (ECX), has executed a $213 mn senior debt facility with participation from international banks. The debt will finance its under-construction data centre portfolio of 67 MW in Noida and Chennai. India is one of the fastest-growing data centre markets in the world, and as per CRISIL estimates the data centre capacity in India is expected to double from an estimated 870 MW in FY22 to 1700-1800 MW by FY25. AdaniConneX achieved financial closure through its maiden construction facility by entering into Financing Framework, raising USD 213 mn for its under-construction data centre asset portfolio. The current facility will finance two data centres with an aggregate capacity of 67 MW that includes ‘Chennai 1’ campus with Phase 1 of 17 MW and Noida campus of 50 MW. To address the growing need for reliable IT infrastructure, AdaniConneX is investing capital with a mission to build a 1 GW Green Data Center platform, enabled by hyperscale to hyperlocal data centre investments across the country. The platform infrastructure financing was finalised through the framework agreement with international lenders, which will institutionalise the development agenda for AdaniConneX. ING Bank N.V., Mizuho Bank, Ltd., MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have committed to the facility. The access to the wide pool of liquidity strengthens AdaniConneX strategy to fast-track the implementation of the under-construction asset portfolio in sync with accelerating demand. “The construction facility is the key ingredient of AdaniConneX capital management plan, providing the pathway for us to deliver on-time a reliable and sustainable data centre capacity of 1 GW by 2030,” said Mr Jeyakumar Janakaraj, CEO of AdaniConneX. “The achievement marks a significant milestone in developing this transformative initiative, which is set to revolutionise the digital infrastructure in India.” “We are committed to delivering a pan-India Data Center platform,” said Anil Sardana, Director of AdaniConneX (Adani representative on the board). The facility shall encourage overall implementation philosophy to power the digital infrastructure by delivering clean and long-term renewable energy solutions aiming toward a carbon-neutral footprint. EdgeConneX's extensive data centre expertise and industry-leading technology solutions combined with Adani’s expertise in full-stack energy management, renewable power, and project development are set to transform the sector. AdaaniConneX, is a 50:50 JV between Adani Enterprises and EdgeConneX, was founded with a vision to redefine the data centre landscape in India. AdaniConneX envisions to build an environmentally and socially conscious 1GW data centre infrastructure platform by leveraging the complementary capacity of the Adani Group, India’s largest infrastructure player, and EdgeConneX, one of the largest private data centre operators. In a land of innovators, data centre solutions need to be ahead to accelerate ambition and AdaniConneX mirrors this vision of Digital India.

AdaniConneX raises $213 mn to build two data centers in Noida & Chennai

Mumbai, May 11 () If the economic activities continue to get impacted for the next four months amid COVID-19 crisis, the regulatory assets of power discoms will increase to up to Rs 90,000 crore, which will then have to be recovered from consumers, an industry expert has said. Regulatory assets in the power sector include previously-incurred losses that are in the nature of deferred expenditure and can be recovered from consumers in future provided allowed by regulatory authorities."Everyone talks about 25-30 per cent dip in demand, but what constitutes behind that is nearly 80-82 per cent is decline in demand from the commercial sector and there is a rise in domestic consumer demand which is subsidised," Adani Transmission CEO Anil Sardana said during a webinar organised by Care Ratings. Whereas the industrial and commercial are the subsidising customers, he said adding that therefore, subsidising revenue has gone down while the subsidised customers are high.According to him, if the situation continues for two months, there will be nearly Rs 30,000-40,000 crore worth of regulatory assets."However, if this continues for four months which is estimated in terms of demand at least, because the industry will actually take time to start to consume as much, that (regulatory assets) would be Rs 80,000-90,000 crore, which is going to reflect in the ARR of the discoms as regulatory assets," he said.Sardana further said that this means a tremendous amount of carrying cost over the next 4-5 years and consumers will see regulatory asset surcharge, and tariffs will have to be paid along with carrying cost which will be a steep burden on customers."The government has announced a Rs 90,000 crore credit line to fund discoms afresh, but what is important is to revive the economy. And for this, the government will have to address key issues of the construction, labour and logistics sectors," Sardana added.He further said that there are thousands of crores of rupees with the government agencies stuck in arbitration which they need to release to ensure that the construction industry survive as liquidity is a key challenge. "Liquidity crisis is not a pandemic related situation but has been impacting the sector even before that. Instead of giving stimulus package, we want the government to at least release the amount stuck in arbitration," he added. PSK HV MKJMKJ

Regulatory assets of discoms may touch Rs 90,000 cr if economy stalls for another 4 mths: Expert

New Delhi, Feb 4 () Adani Transmission Ltd (ATL), the largest private sector power transmission company operating in India, on Tuesday said it raised USD 310 million in foreign currency debt.
 "This USD denominated notes are raised by six wholly owned subsidiaries of ATL amounting to USD 310 million," the company said in a statement.
 The USD notes carries fixed coupon over the tenor of notes, it said without giving details. "These instruments have an amortising structure matching the concession period and revenue profile of the issuer companies."
 "This is the first time that an Indian company has circled up transaction for its proposed US private placement in over a decade. From transmission business, this is first of its kind transaction," the company said.
 ATL said the proceeds will be used to cater to the growing demands for power by expanding network especially in the deficit parts of the country.
 Anil Sardana, MD &amp; CEO, Adani Transmission Ltd, said: "We are delighted to raise these funds from our US stakeholders. This will help us mitigate interest rate risk in our TBCB (tariff-based competitive bidding) projects. Further, we aim to expand our network to meet the growing demands of a T&amp;D sector. The funds will enable us to support efforts toward scaling infrastructure and improving electrification and bridging gap between the supply and demand for power. The placement is a strong endorsement of global investors' confidence in ATL as a value creator and leader in the power sector contributing toward sustainable growth the country."
 Barclays and Bank of America acted as the financial advisors in securing the deal and have held roadshows for the Baa2/BBB- rated borrower over the past few months.
 ATL is the transmission business arm of the Adani Group, one of India's largest business conglomerates. It is the country's largest private transmission company with a cumulative transmission network of more than 14,800 circut kms, out of which more than 11,470 ckt kms is operational. ANZ MKJ

Adani Transmission raises $310 mn

New Delhi, Feb 14 () As the sword of Damocles hangs over Vodafone Idea, uncertainty continues to mire the Indian telecom sector which has seen fall of several telcos such as Etisalat DB, Reliance Communications, Sistema Shyam and Aircel. The Supreme Court on October 24, 2019, ruled that statutory dues need to be calculated by including non-telecom revenues in AGR of telcos, leading to huge liabilities of Rs 1.47 lakh crore for telcos already hit by falling revenues due to fierce competition. After facing the ire of the Supreme Court, the Department of Telecommunications asked telecom licence holders to clear entire AGR dues totalling Rs 1.47 lakh crore by the end of Friday. Vodafone Idea Ltd (VIL), whose liability is estimated to be around Rs 53,038 crore including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, has already warned of shutdown if no relief is given. In this matter, Bharti Airtel's liabilities as per last available estimates added up to nearly Rs 35,586 crore, including licence fee and spectrum usage charge dues, Tata Teleservices around Rs 10,000 crore, Telenor (which sold spectrum to Airtel) Rs 1,950 crore. BofA Securities, in a note on Friday, noted "overhang on VIL" and questioned if India is inching towards a two-player market. "Every incremental decision pushes India to a two-telco market," it added. Market watchers, meanwhile, said in the event of any further consolidation in the market, the tariffs could well rise by 10-25 per cent. Vodafone Idea Chairman Kumar Mangalam Birla has said it will shut down business if the company has to pay the entire adjusted gross revenue amount and the government does not come to its rescue. Vodafone Group has said it will not pump in any fresh capital into Vodafone Idea. If the Aditya Birla group subsidiary shuts shop, Vodafone India will be the second-large company after Jet Airways to go belly up under the Prime Minister Narendra Modi government. Vodafone Idea's gross debt, excluding lease liabilities, was Rs 1,15,850 crore as on December 31, 2019, including deferred spectrum payment obligations due to the government of Rs 88,530 crore. There were 13 telecom operators in the market when the Modi-led NDA government came to power in May 2014 but the companies started folding up due to market conditions and rising regulatory costs. Vodafone Group CEO Nick Read last year alleged that British telecom major Vodafone on Monday alleged that regulatory outcomes in India over the past two years have been against every telecom operator, except Reliance Jio. Vodafone Idea has claimed to have invested over 3.1 lakh crore in India which includes 1.39 lakh crore for spectrum payment. The uncertainty around Vodafone Idea has also put risk over jobs of 11,700 direct employees and around 1 lakh indirect jobs. According to Reliance Communications Chairman Anil Ambani, there have been around 20 lakh job losses in the telecom sector. His firm amalgamated mobile business of Russian Conglomerate Sistema-owned SSTL to mitigate the debt burden due to lower margin in the capital-intensive telecom vertical. Later, RCom failed to merge business with Aircel and now both the companies are going through an insolvency process. According to official data, the telecom sector's gross revenue fell about Rs 41,000 crore in three years on account of a dip in mobile services rates between 2016-17 and 2018-19 and the adjusted gross revenue on which the government earns revenue, also declined by around Rs 46,000 crore. PRS ANZ MR

Vodafone Idea faces uncertain future over AGR woes

“As women achieve power, the barriers will fall,” Former Associate Justice of the Supreme Court of the United States Sandra Day O’Connor said. And this quote beautifully captures how women can make a difference at not just the workplace, but the world as well. Today, in 2024, India is home to a remarkable group of women who have not only accumulated immense wealth but have also left a profound impact on various sectors. These female entrepreneurs and leaders have steered their businesses to success, showcasing innovation, resilience, and leadership in a rapidly changing economic landscape. From technology to manufacturing, these women are shaping India’s corporate world and inspiring future generations. According to Forbes' Real-Time Billionaires rankings released recently, Savitri Jindal tops this list, followed by Rekha Jhunjhunwala, with others making their mark in various industries. Let us take a look at <keyword id="146209" type="ENTERTAINMENT" weightage="20" keywordseo="Top-10" source="Orion">top 10</keyword> <keyword id="8878888" type="General" weightage="20" keywordseo="richest-women-in-india" source="Orion">richest women in India</keyword> as of June 2024. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Worth </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Savitri Jindal </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$36 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rekha Jhunjhunwala </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$7.8 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vinod Gupta </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.7 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Renuka Jagtiani </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4.8 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anu Aga </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4.6 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Smita Crishna </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.9 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radha Vembu </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.3 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Leena Tewari </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.2 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falguni Nayar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.9 B </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kiran Mazumdar-Shaw </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.8 B </td></tr></tbody><tbody></tbody><tbody></tbody></table> Credit: Forbes India <h2>1.Savitri Jindal - $25.6 Billion - Jindal Group</h2>At the age of 73, Savitri Jindal tops the list of India's <keyword id="6699828" type="General" weightage="20" keywordseo="richest-women" source="Orion">richest women</keyword>. She took over the reins of the OP Jindal Group after her husband’s passing in 2005. Jindal is the only female billionaire among India’s ten wealthiest individuals in 2024. Beyond her business ventures, she’s also made her mark in politics, serving as a cabinet minister in the Haryana government after being elected to the Haryana Vidhan Sabha in 2005 and 2009. <h2>2.Rekha Jhunjhunwala - $7.2 Billion - Titan Company Limited, and others</h2>Rekha Jhunjhunwala, 59, inherited her late husband Rakesh Jhunjhunwala's extensive stock portfolio, which includes stakes in major companies like Titan and Tata Motors. Her adept management of these investments has made her one of India’s wealthiest women. <h2>3.Vinod Gupta - $5.7 B - Havells</h2>At 79, Vinod Gupta, alongside her son Anil Rai Gupta, leads Havells India, a significant player in the electrical equipment sector. The company, which was founded by her late husband, has a global footprint with 14 manufacturing facilities and a presence in over 50 countries. <h2>4.Renuka Jagtiani - $4.8 B - Landmark Group</h2>Seventy-year-old Renuka Jagtiani is the chairwoman and CEO of Landmark Group, a multinational conglomerate based in Dubai. Over the last two decades, she has been instrumental in expanding the group's presence in retail and hospitality, overseeing a workforce of over 50,000 employees. <h2>5.Anu Aga - $4.6 B - Thermax</h2>Anu Aga, now 81, became a pivotal figure in Thermax, an engineering company, after her husband’s death in the 1980s. She led the company until 2004, when she passed the baton to her daughter, Meher Pudumjee. Aga has also been active in public service, including a term in the Rajya Sabha and co-founding Teach for India. <h2>6.Smita Crishna - $3.9 B - Godrej</h2>At 73, Smita Crishna-Godrej owns a significant 20% stake in the Godrej Group. Her high-profile purchase of Mehrangir, the former home of physicist Homi Bhabha, highlighted the family’s influence within the $5.2 billion conglomerate. <h2>7.Radha Vembu - $3.3B - Zoho</h2>Fifty-one-year-old Radha Vembu is a co-founder of Zoho, a technology company where she oversees product management for Zoho Mail. Her leadership contributed to a significant revenue increase for Zoho, with the company’s earnings surpassing $1 billion in 2021. <h2>8.Leena Tewari - $3.2B - USV</h2>At 66, Leena Tewari chairs USV, a global pharmaceutical company. The firm, which was founded by her father, specializes in drugs for diabetes and cardiovascular conditions and expanded its global reach by acquiring a German generics company in 2018. <h2>9.Falguni Nayar - $2.9 B - Nykaa</h2>Falguni Nayar, aged 60, shifted from a successful career in investment banking to launch Nykaa, a beauty and fashion e-commerce platform. The company’s IPO in 2021 saw her wealth increase by 963%, making her one of India’s wealthiest self-made women. <h2>10.Kiran Mazumdar-Shaw - $2.8 B - Biocon</h2>Seventy-year-old Kiran Mazumdar-Shaw started Biocon, a biopharmaceutical company, from her garage in 1978. Biocon’s growth, including a $3 billion acquisition in the U.S., has cemented her status as a leading figure in the biotech industry.

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