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.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Infrastructure Urban

13 Oct 2025

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Technology

13 Oct 2025

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..