Adani Group Plans Major Entry into Cables & Wires Segment
Deal News | Mar 20, 2025 | EIN
The Adani Group is poised to enter the cables and wires (C&W) segment, planning an acquisition worth $500-700 million to boost its presence rapidly. This entry is linked to Adani's broader $1.2 billion copper smelter project at Mundra, which includes downstream production of cables and wires. The strategy involves inorganic growth through acquisition to quickly scale operations, corroborating strategies previously used in the cement sector. To facilitate this move, Adani's subsidiary, Kutch Copper, has established a joint venture named Praneetha Ecocables with Praneetha Ventures. The entry follows UltraTech Cement's announcement of its own C&W facility, signaling upcoming consolidation in a market largely controlled by established players such as Polycab and KEI Industries. The C&W market is currently experiencing growth driven by demand from the power, real estate, and infrastructure sectors, presenting significant opportunities for both existing players and new entrants.
Sectors
- Cables and Wires
- Copper Production
Geography
- India – The Adani Group's C&W segment entry and associated ventures like Praneetha Ecocables are focused in India, notably around their copper smelter project at Mundra.
Industry
- Cables and Wires – Adani Group is planning to enter this industry through acquisitions, indicating the industry's relevance to Adani's expansion strategy.
- Copper Production – The downstream expansion into cables and wires is part of Adani's $1.2 billion copper smelter project, highlighting the integration of copper production with C&W manufacturing.
Financials
- $500-700 million – Proposed acquisition budget for entering and scaling the C&W segment.
- $1.2 billion – Investment cost related to Adani's copper smelter project at Mundra, linked to its C&W venture.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Adani Group | Investor | Company | A large conglomerate in India entering the C&W segment, leveraging its existing copper smelter project. |
| Kutch Copper | Subsidiary | Company | A wholly-owned subsidiary of Adani Enterprises, responsible for the new JV and C&W venture. |
| Praneetha Ecocables | Joint Venture | Company | A JV established by Kutch Copper and Praneetha Ventures to manufacture and market cables and wires. |
| Praneetha Ventures Pvt Ltd | JV Partner | Company | A Delhi-based company partnering in the JV Praneetha Ecocables, with a background in real estate activities. |
| UltraTech Cement | Competitor | Company | Another major conglomerate entering the C&W segment which could affect market dynamics. |
| Polycab | Market Player | Company | An established player in the C&W segment, representing the organized sector. |
| KEI Industries | Market Player | Company | A significant company in the C&W market, part of the established organized players. |