Technology and business news updates, official announcements from Adani Group or UPI

Adani Group, Led by Gautam Adani, Plans $4 Billion Expansion into Indian E-Commerce and Payments

May 28, 2024, 04:46 AM

Adani Group, led by Gautam Adani, is planning to expand into the Indian e-commerce and payments sectors, aiming to compete with major players such as Reliance, Walmart, and Google. The conglomerate, which currently lacks significant consumer-facing businesses, is set to embark on a series of roadshows this week to raise up to $4 billion through equity and refinancing of older debt. The expansion may include integrating with UPI and ONDC to enhance their digital payment capabilities. This move could see Adani Group's platform, AdaniOne, offering services from travel bookings to digital payments.