Adani promoters hike stakes in 3 companies in Sept quarter

16 Oct 2024 CW Team

Through this exercise, the promoters aim to eventually hold stakes of 64-68% each across group companies, ET reported in August. The promoter group raised its stake in Adani Enterprises, Adani Power and Adani Green Energy last quarter.

According to the average price of shares during the quarter, promoters are likely to have spent about ?16,134.31 crore on raising their holdings in the three companies. Promoters hiked their stake in Adani Green Energy by 3.42 percentage points sequentially-the highest among group companies-to 60.94% stake in the company as of September 30. In flagship firm Adani Enterprises, promoters increased their stake by 17 basis points during the quarter to 74.89% stake as of September 30, just shy of the 75% limit prescribed by the Securities and Exchange Board of India. In Adani Power, promoters increased their stake by 2.25 percentage points to 74.96%, according to the latest shareholding data.

While the promoter family boosted its stake in Adani Power during the quarter, it plans to pare it by the end of the year. Promoters want to sell a 3% stake to raise about ?8,000 crore-?10,000 crore by the end of the year, sources told ET in August. US investment manager GQG Partners has also increased its stake in several Adani group firms including Ambuja Cements, Adani Power, Adani Green Energy, Adani Energy Solutions and Adani Wilmar last quarter.

It has increased its stake in Ambuja Cements by 70 basis points-the highest among all Adani companies in its portfolio-to more than 2% at the end of the September quarter. Adani Group promoters have meanwhile, pared their stake in Ambuja Cements by 2.76 percentage points in the September quarter to 67.57%.

Last week, Adani Enterprises raised $500 million through a qualified institutional placement. The company had shareholders' approval to raise Rs 166 billion. Earlier in the September quarter, Adani Energy successfully raised $1 billion through a QIP, which was oversubscribed by six times. Investors subscribing to the QIP included GQG partners.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Promoters of the Adani Group boosted their stakes in three group companies in the September quarter while paring it in Ambuja Cements, in line with the conglomerate's strategy to rebalance holdings in listed firms. Through this exercise, the promoters aim to eventually hold stakes of 64-68% each across group companies, ET reported in August. The promoter group raised its stake in Adani Enterprises, Adani Power and Adani Green Energy last quarter. According to the average price of shares during the quarter, promoters are likely to have spent about ?16,134.31 crore on raising their holdings in the three companies. Promoters hiked their stake in Adani Green Energy by 3.42 percentage points sequentially-the highest among group companies-to 60.94% stake in the company as of September 30. In flagship firm Adani Enterprises, promoters increased their stake by 17 basis points during the quarter to 74.89% stake as of September 30, just shy of the 75% limit prescribed by the Securities and Exchange Board of India. In Adani Power, promoters increased their stake by 2.25 percentage points to 74.96%, according to the latest shareholding data. While the promoter family boosted its stake in Adani Power during the quarter, it plans to pare it by the end of the year. Promoters want to sell a 3% stake to raise about ?8,000 crore-?10,000 crore by the end of the year, sources told ET in August. US investment manager GQG Partners has also increased its stake in several Adani group firms including Ambuja Cements, Adani Power, Adani Green Energy, Adani Energy Solutions and Adani Wilmar last quarter. It has increased its stake in Ambuja Cements by 70 basis points-the highest among all Adani companies in its portfolio-to more than 2% at the end of the September quarter. Adani Group promoters have meanwhile, pared their stake in Ambuja Cements by 2.76 percentage points in the September quarter to 67.57%. Last week, Adani Enterprises raised $500 million through a qualified institutional placement. The company had shareholders' approval to raise Rs 166 billion. Earlier in the September quarter, Adani Energy successfully raised $1 billion through a QIP, which was oversubscribed by six times. Investors subscribing to the QIP included GQG partners.

Infrastructure Transport

01 Sep 2025

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

Infrastructure Energy

01 Sep 2025

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Infrastructure Transport

09 Sep 2025

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..