Adani Enterprises & Adani Green: ₹8,372 Cr stake sale; GQG partners invest ₹1,100 Cr

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Adani Enterprises and Adani Green: Stake Sale of Rs 8,372 Cr; GQG Partners Invest Rs 1,100 Cr.

In a recent transaction, Adani Enterprises and Adani Green, both companies backed by billionaire Gautam Adani’s port-to-energy empire, have sold stakes worth approximately INR 1,099.80 crore to US-based boutique investment firm GQG Partners and other investors. The deal, conducted as a block deal, took place during the early hours of trading on Wednesday. Adani Family Trust sold shares in Adani Enterprises, while GQG Partners invested in Adani Green Energy.

According to data from the National Stock Exchange (NSE), Goldman Sachs Trust II – Goldman Sachs GQG Partners International Opportunities Fund acquired 11.95 million equity shares in Adani Green Energy at a price of INR 920.05 per share. The total value of the transaction amounted to INR 1,099.81 crore.

Furthermore, Infinite Trade And Investment sold 46 million equity shares in Adani Green at a share price of INR 920.03, totaling INR 4,232.13 crore.

Promoter Infinite Trade’s shareholding in Adani Green has nearly halved compared to the 99.42 million equity shares or 6.28% it held as of March 31, 2023.

In another development, SB Adani Family Trust sold 18 million shares of Adani Enterprises at a share price of INR 2,300, resulting in a total of INR 4,140 crore.

Gautam Adani and his brother Rajesh hold equity shares in Adani Enterprises on behalf of SB Adani Family Trust, and they are part of the promoter and promoter group. As of March 31, 2023, the two brothers collectively owned 59.13 million equity shares or 51.87% in Adani Enterprises.

On the Bombay Stock Exchange (BSE), Adani Enterprises’ share price closed at INR 2,403.65, experiencing a gain of INR 121.90 or 5.34%. However, Adani Green’s share price closed at INR 958.40, showing a slight decrease compared to the previous closing.

GQG Partners is a renowned global and emerging markets investment firm with an impressive long-term track record.

Earlier in March, GQG Partners acquired a stake worth INR 15,446 crore in four Adani Group companies through block deals. These companies were Adani Ports, Adani Green, Adani Transmission, and Adani Enterprises.

During this period, Adani Family Trust collectively sold over 21 crore shares in Adani Green, Adani Ports, and Adani Transmission.

The investment firm backed by Rajiv Jain already holds 1.42% or 22.52 million equity shares in Adani Green, which were purchased in a block deal in March 2023.

About Adani Enterprises:

Adani Enterprises Limited, a member of the Adani Group, is a publicly-listed Indian multinational holding company. Headquartered in Ahmedabad, it mainly focuses on the mining and trading of coal and iron ore.

Adani Green:

Adani Green Energy Limited, an Indian renewable energy firm headquartered in Ahmedabad, Gujarat, is a subsidiary of the Adani Group, a conglomerate based in India. One of the world’s largest solar photovoltaic facilities, the Kamuthi Solar Power Project, is operated by the company.

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