14 Oct , 2024 By : Debdeep Gupta
Adani Group promoters raised their stakes in four of their listed entities: Adani Energy Solutions Ltd, Adani Enterprises Ltd, Adani Green Energy Ltd, and Adani Power Ltd, while reducing their stake in Ambuja Cements. The total value of these holdings is approximately Rs 12,778 crore.
Promoter group entities and GQG Partners have significantly increased their stakes in Adani Group companies during the September quarter, with a combined investment exceeding Rs 19,000 crore, according to the latest shareholding data. While promoters pumped in around Rs 12,780 crore in group companies, GQG partners invested around Rs 6,625 crore.
Promoter Activity
Adani Group promoters raised their stakes in four of their listed entities: Adani Energy Solutions Ltd, Adani Enterprises Ltd, Adani Green Energy Ltd, and Adani Power Ltd, while reducing their stake in Ambuja Cements. The total value of these holdings is approximately Rs 12,778 crore.
In Adani Green Energy Ltd, promoter holdings rose by 3.42 percentage points, from 57.52% to 60.94%. Key transactions included Hibiscus Trade and Investment's purchase of 20.1 million shares (1.27% equity stake) between July 30 and September 18, and Ardour Investment Holding's acquisition of 26.7 million shares (1.69% equity stake) between September 19 and 23. Based on an average stock price of Rs 1,903 during the quarter, these acquisitions are estimated at Rs 10,310 crore.
Promoter holdings in Adani Power increased by 2.25 percentage points to 74.96%, with an estimated spend of Rs 5,703 crore. They also invested around Rs 427 crore in Adani Energy Solutions and Rs 626 crore in Adani Enterprises Ltd, based on average prices for the quarter. Conversely, promoter stake in Ambuja Cements Ltd dropped by 2.76 percentage points, down to 67.57% from 70.33%, with a sale valued at approximately Rs 4,288 crore.
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