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IIRC Tower was enthusiastic about entering India , just that it was getting into a merger / JV around the same time with this Indian venture proving to be a sticking point . Eventually the merger or JV didn't come through. I wouldn't be surprised if the governments of India & Israel collaborated together in ensuring this JV with Adani.
Frankly Adani Group is spreading itself thin . When you think of it except for Japanese conglomerates & Indian ones like Tatas , most other conglomerates have ceased being so diverse long ago. GE comes to mind. They used to be a big name in Consumer Electronics . They sold that business off decades ago .
Even as far as the Japanese conglomerates or even Tatas go they didn't build up this bandwidth in a decade , they've been at it for decades & have had notable failures too . There are still companies within these groups which are unhealthy .
The larger question is how does Adani exert shareholder control apart from managerial bandwidth unless they're operating in typically Lala company style. This will eventually result in destroying value . Besides I haven't even gotten into their finances , how leveraged are they as a group & how are they managing this aspect ?
I'm not sure this is s good development as if we mean to go the Chinese way we need our Indian partners to absorb technology before striking it out in their own .
Adani here seems to be more of a financial partner which in itself isn't bad provided they exit at the right time which I'm not sure is possible with an SMC co as the very nature of this business is to sink in money running into billions just to keep up with competition. Hence the valuations would run into billions too with a lot of other variables to be considered.
Fingers crossed on this JV. Perhaps better informed members can weigh in .
