Goldman Sachs Fund Buys 22.5 Million Shares of Adani Green Energy in Block Deal

Goldman Sachs Fund Buys 22.5 Million Shares of Adani Green Energy in Block Deal

Goldman Sachs Fund Buys 22.5 Million Shares of Adani Green Energy in Block Deal

Goldman Sachs Trust II – Goldman Sachs GQC Partners International Opportunities Fund has purchased more than 22.5 million shares of Adani Green Energy, the renewable energy arm of Adani group, in a block deal. According to data shared by the National Stock Exchange (NSE) on March 2, the buyer paid Rs 504.60 apiece for a total of 225,22,850 shares.

The seller was S B Adani Family Trust. The transaction price was lower than the closing share price of Adani Green Energy on March 2, which settled at Rs 535 apiece at the NSE, five percent higher than the previous day’s close.

Adani Group Sells Shares Worth Rs 15,446 Crore in Block Trades

In separate block trades, Adani group companies sold shares worth Rs 15,446 crore to US PE firm GQG Partners. The block trade transactions were for Adani Green, Adani Ports and Special Economic Zone, Adani Transmission, and Adani Enterprises. SB Adani Family Trust also sold 3.87 crore shares of Adani Enterprises via open market transactions, amounting to more than Rs 5,460 crore.

However, GQG Partners Emerging Markets Equity Fund acquired 90.22 lakh equity shares, and Goldman Sachs Trust II-Goldman Sachs GQG Partners International Opportunities Fund bought 1.51 crore shares.

Adani Group Stocks Recover After Recent Setback

Adani group stocks have taken a beating over the past month after a US-based short-seller released a report alleging stock manipulation and accounting fraud by the company. However, all ten Adani companies’ shares settled higher on March 2, while the combined group market capitalisation touched Rs 7.86 lakh crore. Adani Transmission rallied 5 percent, Adani Green Energy advanced 4.99 percent, Adani Wilmar rose 4.99 percent, and Adani Power jumped 4.98 percent.

The group said that the recent investment by GQG Partners has made them a key investor in the development and growth of critical Indian infrastructure.

About Adani Green Energy:

Adani Green Energy Limited, incorporated in 2015, is a holding company of several subsidiaries carrying business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities.

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