Specialist in Indian Banking and Economic Research

Hemindra Hazari

Is a Securities & Exchange Board of India (SEBI) registered research analyst with over 25 years experience in the Indian capital markets with a specialization in banking and economy research and has managerial experience of establishing profitable equities business, leading and mentoring analysts.  He has worked with prominent foreign and domestic capital market firms such as UBS, Societe Generale, HSBC, ASK Raymond James  and Karvy Stock  Broking and is a regular guest on business media channels and is respected for his non-consensus view on stocks and the market.

Adani Group Has a Significant Liquidity Gap to Bridge

Adani Group - MSCI Will Treat Very Adani Funds as a Very Special Case

Gravity Works As WeWork Doesn't; Now Plan B

Adani Ent FPO - Early Demand Muted, Adani & Hindenburg Trade Barbs Again, But Not a Good Look

Equity Bottom-Up

<ul>
<li>Rescinding of Rs 200 bn FPO deprives the company of much needed long-term funds</li>
<li>Company has a liquidity issue as this analyst estimates its short term borrowing exceeds its short term borrowing limit and it requires long term funds to bridge the gap</li>
<li>With foreign and private sector banks unwilling to increase exposure, the company needs to inject funds from founder entities, divest assets, reduce capex and improve working capital to infuse liquidity.</li>
</ul>


Rescinding of Rs 200 bn FPO deprives the company of much needed long-term funds
Company has a liquidity issue as this analyst estimates its short term borrowing exceeds its short term borrowing limit and it requires long term funds to bridge the gap
With foreign and private sector banks unwilling to increase exposure, the company needs to inject funds from founder entities, divest assets, reduce capex and improve working capital to infuse liquidity.


Who Will Now Fund Adani Enterprises’ Liquidity Gap?