QIA Acquires Over 2.5% Stake in Adani Green Energy
POWER & RENEWABLE ENERGY

QIA Acquires Over 2.5% Stake in Adani Green Energy

Qatar Investment Authority (QIA), a prominent sovereign wealth fund, has recently obtained a stake in Adani Green Energy Ltd, surpassing 2.5% of the company's ownership with an investment exceeding USD 500 million, as indicated by sources within the industry. The acquisition aligns with QIA's emphasis on environmental, social, and governance (ESG) considerations and marks its second investment in Adani Group enterprises. The initial investment was made in Adani Electricity Mumbai Ltd. (AEML), wherein QIA purchased a 25.1% share in 2020. AEML, a subsidiary of Adani Energy Solutions Ltd, manages Mumbai's energy distribution services.

In a recent open market transaction, Infinite Trade and Investment, a promoter group entity associated with Adani Green Energy, divested a 2.8% stake in the company for ₹41.31 billion. This transaction amounted to 4,48,82,500 shares, equivalent to 2.8% of the total outstanding shares, sold at a price of ₹920.43 per share. INQ Holding LLC, a wholly-owned subsidiary of Qatar Investment Authority, acquired 4.26 crore shares, equivalent to 2.68% of Adani Green Energy, at an average cost of ₹920 per share. The total value of this transaction reached ₹39.2 billion.

Consequently, Infinite Trade and Investment's ownership in Adani Green Energy decreased from 3.37% to 0.57%. As of the end of the June quarter, the combined ownership of promoters and the promoter group constituted 56.27% of the company's shares. It is noteworthy that Qatar Investment Authority (QIA) ranks among the world's largest sovereign funds, according to insiders familiar with the matter.

Adani Green Energy Ltd (AGEL) presently operates a renewable energy capacity of 8.3 GW and has a total locked-in portfolio of 20.4 GW. The company is actively pursuing the target of reaching a capacity of 45 GW by FY30. Gautam Adani, Chairman of Adani Group, reiterated the commitment to this goal, emphasizing the company's dedication to producing cost-effective energy. On the trading front, Adani Green's share price experienced a decline of 4.69%, closing at ₹965.05 per share on the Bombay Stock Exchange (BSE) on Monday.

See also:
Builder.ai raises $250m in Series D funding
Adani Transmission sells 25.1 per cent stake in arm AEML to QIA for Rs.32.20 bn


Qatar Investment Authority (QIA), a prominent sovereign wealth fund, has recently obtained a stake in Adani Green Energy Ltd, surpassing 2.5% of the company's ownership with an investment exceeding USD 500 million, as indicated by sources within the industry. The acquisition aligns with QIA's emphasis on environmental, social, and governance (ESG) considerations and marks its second investment in Adani Group enterprises. The initial investment was made in Adani Electricity Mumbai Ltd. (AEML), wherein QIA purchased a 25.1% share in 2020. AEML, a subsidiary of Adani Energy Solutions Ltd, manages Mumbai's energy distribution services. In a recent open market transaction, Infinite Trade and Investment, a promoter group entity associated with Adani Green Energy, divested a 2.8% stake in the company for ₹41.31 billion. This transaction amounted to 4,48,82,500 shares, equivalent to 2.8% of the total outstanding shares, sold at a price of ₹920.43 per share. INQ Holding LLC, a wholly-owned subsidiary of Qatar Investment Authority, acquired 4.26 crore shares, equivalent to 2.68% of Adani Green Energy, at an average cost of ₹920 per share. The total value of this transaction reached ₹39.2 billion. Consequently, Infinite Trade and Investment's ownership in Adani Green Energy decreased from 3.37% to 0.57%. As of the end of the June quarter, the combined ownership of promoters and the promoter group constituted 56.27% of the company's shares. It is noteworthy that Qatar Investment Authority (QIA) ranks among the world's largest sovereign funds, according to insiders familiar with the matter. Adani Green Energy Ltd (AGEL) presently operates a renewable energy capacity of 8.3 GW and has a total locked-in portfolio of 20.4 GW. The company is actively pursuing the target of reaching a capacity of 45 GW by FY30. Gautam Adani, Chairman of Adani Group, reiterated the commitment to this goal, emphasizing the company's dedication to producing cost-effective energy. On the trading front, Adani Green's share price experienced a decline of 4.69%, closing at ₹965.05 per share on the Bombay Stock Exchange (BSE) on Monday. See also: Builder.ai raises $250m in Series D fundingAdani Transmission sells 25.1 per cent stake in arm AEML to QIA for Rs.32.20 bn

Next Story
Infrastructure Urban

CNH India marks production milestone: 700,000 tractors in Greater Noida

CNH " a global leader in agriculture with its New Holland and Case IH brands " marks the production milestone of 700,000 tractors at its manufacturing site in Greater Noida. The plant produces approximately 2,000 tractor variants, ranging from 35 to 120 horsepower across the two brands. Gerrit Marx, the new CEO of CNH attended the milestone ceremony during his recent visit to India  affirming the Company's commitment to this market and its continued growth. Since commencing production in 1999, the site has expanded its capacity to produce 60,000 tractors annually. Currently, the Greater ..

Next Story
Infrastructure Urban

Ecom Express strengthens leadership team

Ecom Express, a technology-driven end-to-end logistics solutions provider, announces the appointment of two senior executives to bolster its leadership team. Jitendar Kumar joins the Ecom Express team as the Chief Business Officer, while Abhinav Imandi takes on the role of Senior Vice President - Operations, Process Excellence and Alternate Channels. Speaking on the appointment of the new Chief Business Officer, Ajay Chitkara, CEO & MD, Ecom Express, said, "Jitendar's extensive experience in driving business growth and his strategic thinking will be instrumental in achieving our growth object..

Next Story
Infrastructure Transport

Railway Board Approves Elevated Track on Anwarganj-Mandhana Route

The Railway Board has given the green light for the construction of an elevated track on the Anwarganj-Mandhana rail route, part of the North Eastern Railway (NER). This project is set to ease the daily commute for approximately 40 lakh people who currently navigate 17 railway crossings between these two stations. The announcement was confirmed in a letter from the Railway Board to the General Manager of NER. The construction, estimated to cost Rs 9.94 billion, will feature an elevated ramp starting at the Jareeb Chowki crossing and descending at Mandhana, covering a span of 15 km. Chief Publi..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000