Ahmedabad, July 3: Global institutions and India’s largest mutual funds have backed multiple Adani Group companies, marking a sharp turnaround in investor sentiment.

Adani Group has emerged as one of the biggest draws for institutional investors over the past year, attracting around Rs 40,000 crore of fresh equity into its flagship company alone while also seeing marquee global and domestic investors increase their exposure across several listed entities.

Adani Enterprises Ltd (AEL) this week upsized its qualified institutional placement (QIP) to Rs 15,000 crore after receiving bids worth about Rs 38,000 crore, or 3.8 times the base issue size. The fundraising comes less than a year after the company’s Rs 25,000 crore rights issue, taking its total equity capital raised over the past year to about Rs 40,000 crore.

The latest offering attracted some of the world’s largest institutional investors, including Capital Group, Goldman Sachs, BlackRock, Blackstone, and Nomura. Domestic participation was equally broad-based, with HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Aditya Birla Sun Life Mutual Fund, SBI Mutual Fund and Tata Mutual Fund among the investors.

People familiar with the transaction said the order book was fully covered before the issue formally opened, with bankers describing investors as “clamouring for allocations.” The company launched the QIP with a base size of Rs 10,000 crore before increasing it to Rs 15,000 crore on the back of strong demand.

The fundraising is the latest sign of a sharp shift in investor sentiment toward the Adani Group. After a period when Adani stocks were among the least preferred by several institutional investors, they have become some of the most sought-after names among both global funds and domestic asset managers.

Over the past year, leading institutional investors have participated in fundraisings and secondary transactions across companies including Adani Power, Adani Ports & SEZ, Adani Energy Solutions and Adani Green Energy, alongside Adani Enterprises. The lineup of investors has consistently featured some of the world’s largest asset managers and nearly every major domestic mutual fund, reflecting growing conviction in the group’s long-term investment pipeline.

The latest demand also comes despite a US federal judge pausing the formal dismissal of criminal charges against the Adani Group Chairman Gautam Adani and directing the Department of Justice to justify its decision to withdraw the case. The strong institutional participation suggests investors have remained focused on the group’s operating businesses, capital allocation, and growth prospects.

Adani Enterprises, the group’s flagship incubator, is expanding businesses spanning airports, AI and data centres, solar and wind equipment manufacturing, roads, PVC, metals and mining. A day before the QIP, the company announced an $11.5 billion investment with IHC to establish India’s largest aluminium manufacturing project, marking the biggest foreign direct investment announced in India’s metals and mining sector.

Bengaluru, July 3: The Karnataka Police on Friday arrested three persons in connection with the stone quarry boulder collapse at Madapattana village in Bengaluru South taluk that claimed the lives of seven workers.

The arrested accused have been identified as Panduranga, owner of Sai Ram Crusher; Lokesh, the quarry in-charge; and Raju, the local in-charge.

According to the police, the three have been taken into custody for questioning. Panduranga had taken Basaveshwara Crusher on lease and was operating the quarry. A case has been registered under the relevant provisions of the Bharatiya Nyaya Sanhita (BNS) based on a complaint filed by worker Gopikrishnan.

Police are also likely to question Uday Shankar, the owner of Kaveri Crusher, and D. Anandaswamy, the owner of Basaveshwara Crusher, as part of the ongoing investigation.

The tragedy occurred early Thursday morning at the Kaveri Crusher unit in Madapattana village under the jurisdiction of the Tavarekere Police Station when a massive boulder rolled down from an upper quarry and crashed onto workers at a lower quarry.

Seven workers were killed in the incident, while five others sustained injuries. One of the injured remains in critical condition, and four workers managed to escape.

The deceased were identified as Ramu, Rajpal Singh, Satyanarayan Singh, Ram Avtar Singh, Rajendra Prasad, Nuhar and Bhuvaneshwar Singh, all aged between their 30s and 40s. According to police, one of the deceased hailed from Yadgir district in Karnataka, while the others were from Madhya Pradesh. One of the injured workers is from Chhattisgarh.

Central Zone IGP S. Girish said the accident involved two adjoining quarries owned by different entities.

“There are two quarries at the location. The upper quarry belongs to one owner, while the lower quarry is owned by another. Work was underway at both sites early this morning. A JCB excavator operating at the upper quarry moved boulders, one of which rolled downhill and fell onto the workers at the quarry below,” he said.

“A total of 16 workers were at the lower quarry. Seven of them died on the spot. Five have been admitted to the hospital, one of whom is in critical condition, while four others managed to escape,” Girish added.

A worker from Tamil Nadu, Gopi, who narrowly escaped the accident, alleged that workers at the upper quarry failed to warn those working below before moving the rocks.

“Those working above should alert the workers below, but no one informed us. I have been working here for the past eight years. Four of us managed to escape. If they had warned us, we would have known about the danger. A stone hit me, but I still managed to run away. Around 15 to 30 people were working at the site. Tractors and excavators were mangled in the incident,” he said.

The force of the boulder impact crushed the victims beneath the rocks, making identification difficult. Police said some bodies were mutilated beyond recognition. A tractor, a tipper and other heavy machinery at the site were also extensively damaged.

Chief Minister D.K. Shivakumar, reacting to the incident on Thursday, said a detailed report had been sought from officials.

“A tragic incident has taken place at two adjoining quarries on Magadi Road. I have received information that seven persons have died. The bodies have been recovered, and senior officers have visited the spot. It has been ascertained that no blasting took place. I will receive a detailed report. It is yet to be determined whether the quarries were operating legally or illegally. The prescribed rules must be followed,” the Chief Minister said.

He added that action would be initiated after the report is received and compensation would be announced once complete details are available.

Karnataka Leader of the Opposition R. Ashoka visited the injured workers at the hospital on Thursday and alleged that the tragedy was the result of negligence on the part of the state government, while demanding accountability for the loss of seven lives.

Saharanpur, July 2: A laboratory technician and his paramour allegedly committed suicide at a rented accommodation in Sadar Bazar area in Uttar Pradesh’s Saharanpur, police said on Thursday.

Preliminary police investigation suggests that the two may have died by suicide due to family opposition to their relationship. However, police said the exact cause of death will be confirmed only after the post-mortem report and forensic evidence are examined.

Saharanpur ASP Manoj Yadav said: “We received information that a person had locked his room from inside and was not opening the door despite repeatedly being asked to do so. Upon reaching the place we looked in from the window and since the situation was suspicious, we broke open the door in the presence of the neighbours.”

Forensic experts were called at the spot and detailed examination of the place was carried out, he said.

The man has been identified as 39-year-old Sam Kamanish, a native of Kerala, who had been working as a laboratory technician at Medigram Hospital in Saharanpur for the past ten years. The woman, 24-year-old Aastha, was a resident of the Gagalheri area and worked as a teacher at a private intermediate college.

“The man slit his wrist and partially hung himself from the window of the room while the woman had most probably consumed a poisonous substance. There are no wounds on the female’s body,” ASP Yadav said.

According to police, Sam and Aastha first met around four years ago when Aastha’s mother was undergoing treatment at Medigram Hospital. Their acquaintance gradually developed into a romantic relationship. Police said Sam was already married, but his wife had moved to Delhi several years ago for work.

Aastha’s family had reportedly opposed to their relationship.

On Wednesday morning, Aastha left home for college but did not reach her workplace. When she failed to return by evening, the family began searching for her and informed the police. Aastha’s father expressed suspicion that Sam might be involved, prompting police to launch an investigation.

CCTV footage from the hospital reportedly showed the two leaving together in a car. With the help of the car driver, police traced them to Sam’s rented accommodation later that night.

Police said the both bodies were sent for post-mortem examination. Aastha’s body has been handed over to her family, while authorities are waiting for Sam’s relatives to arrive from Kerala before releasing his body.

Officials said all possible angles are being investigated, and the exact circumstances surrounding the deaths will become clear after the investigation and post-mortem findings.