“Foreign Institutional Investors Reducing Stakes in Adani Group Firms”
Foreign Institutional Investors (FIIs) have been reducing their holdings in Adani Group firms for several consecutive quarters. This trend started well before the recent market sell-off.
Adani Enterprises has seen a decline in FII stake for seven straight quarters, dropping from 20.51% in Q1 2021 to 15.39% in Q4 2022. Similarly, FII holdings in Adani Green Energy have been trimmed for eight consecutive quarters, from 22.78% in Q3 2020 to 15.14% as of the end of December 2022.
Adani Ports and Special Economic Zone and Adani Power also experienced a decline in FII stake for two consecutive quarters. Adani Total Gas and Adani Transmission saw a reduction in FII holdings for five consecutive quarters, down to 17.25% and 19.32% in Q3 2022 from 18.89% and 21.05% in Q2 2021, respectively. The FII stake in newly listed Adani Wilmar also saw a decline for the second consecutive quarter.
According to BSE shareholding data, the names of Apms Investment Fund and LTS Investment Fund are missing from the key shareholders’ list of Adani Enterprises and Adani Total Gas, respectively. It is unclear whether Apms has fully sold its stake or if its ownership has fallen below 1%, as publicly listed companies only list investors owning more than 1%.
The trend of declining FII holdings in Adani Group firms continues, indicating a shift in investor sentiment towards the conglomerate.”
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