INQ Holdings, SBI, Citigroup Lead $1 bn QIP in Adani Energy
POWER & RENEWABLE ENERGY

INQ Holdings, SBI, Citigroup Lead $1 bn QIP in Adani Energy

According to a stock exchange filing by the company, the largest purchasers of shares in Adani Group's power transmission unit's $1 billion Qualified Institutional Placement (QIP) were a unit of Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup.

The Rs 83.73 billion QIP of Adani Energy Solutions (AESL), which concluded last week, attracted over 120 investors seeking shares in the firm, which operates in power transmission, distribution, and smart metering.

Investment firms led by billionaire Stanley Druckenmiller's family office were among those that acquired shares in AESL during the QIP.

In the filing, AESL indicated that its board had approved the allocation of more than Rs 80.57 million shares to eligible qualified institutional buyers at an issue price of Rs 976 per share. This price reflected a discount of Rs 51.11 (4.98 per cent) from the floor price of Rs 1,027.

The filing detailed that INQ Holdings LLC, a wholly-owned subsidiary of QIA, obtained 15 per cent of the shares sold. Citigroup's two Mauritius funds acquired 8.88 per cent of the shares, while four SBI funds "SBI Infrastructure Fund, SBI Large & Midcap Fund, SBI Long Term Advantage Fund Series IV, and SBI Magnum Children's Benefit Fund" together secured 7.93 per cent of the shares. Additionally, Nomura Singapore Ltd ODI obtained 7.5 per cent of the shares.

According to a stock exchange filing by the company, the largest purchasers of shares in Adani Group's power transmission unit's $1 billion Qualified Institutional Placement (QIP) were a unit of Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup. The Rs 83.73 billion QIP of Adani Energy Solutions (AESL), which concluded last week, attracted over 120 investors seeking shares in the firm, which operates in power transmission, distribution, and smart metering. Investment firms led by billionaire Stanley Druckenmiller's family office were among those that acquired shares in AESL during the QIP. In the filing, AESL indicated that its board had approved the allocation of more than Rs 80.57 million shares to eligible qualified institutional buyers at an issue price of Rs 976 per share. This price reflected a discount of Rs 51.11 (4.98 per cent) from the floor price of Rs 1,027. The filing detailed that INQ Holdings LLC, a wholly-owned subsidiary of QIA, obtained 15 per cent of the shares sold. Citigroup's two Mauritius funds acquired 8.88 per cent of the shares, while four SBI funds SBI Infrastructure Fund, SBI Large & Midcap Fund, SBI Long Term Advantage Fund Series IV, and SBI Magnum Children's Benefit Fund together secured 7.93 per cent of the shares. Additionally, Nomura Singapore Ltd ODI obtained 7.5 per cent of the shares.

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?