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The conclusion of the purchases of ACC and Ambuja Cement allowed Adani to surpass the Tata Group.
On Monday, September 19, according to Bloomberg, billionaire Gautam Adani passed Bill Gates as the second-richest person in the world when his company became the most valuable conglomerate in India in terms of market value.
The Tata Group was overtaken by the Adani Group thanks to the conclusion of the acquisition of Ambuja Cement and ACC.
As of Friday, September 16, the Adani Group’s total market value—which includes the recently purchased Ambuja and ACC—was Rs 22.25 lakh crore. The combined market capitalization of all companies in the Tata Group was Rs. 20.81 lakh crore.
Prasanta Patnaik