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.

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.

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

Equipment

11 Dec 2025

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

Equipment

11 Dec 2025

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..