Adani promoters increase stakes in three companies in September
ECONOMY & POLICY

Adani promoters increase stakes in three companies in September

Promoters of the Adani Group have raised their stakes in three group companies during the September quarter while reducing their holdings in Ambuja Cements, aligning with the conglomerate's strategy to rebalance its positions in listed firms.

The promoters aim to ultimately hold stakes of 64-68% across the group companies, as reported by ET in August. They increased their stake in Adani Enterprises, Adani Power, and Adani Green Energy during the last quarter.

Based on the average share prices for the quarter, the promoters likely spent around Rs 161.34 billion to enhance their holdings in these three companies. Notably, they raised their stake in Adani Green Energy by 3.42 percentage points, reaching 60.94% as of September 30—the highest increase among the group companies.

In the flagship Adani Enterprises, the promoters increased their stake by 17 basis points to 74.89% as of September 30, just below the 75% threshold set by the Securities and Exchange Board of India (SEBI). Similarly, in Adani Power, their stake rose by 2.25 percentage points to 74.96%, according to the latest shareholding data.

While the promoters increased their stake in Adani Power during the quarter, they plan to reduce it by the end of the year. Sources indicate that they intend to sell a 3% stake to raise approximately Rs 80 billion to Rs 100 billion by year-end.

US investment manager GQG Partners also increased its stakes in several Adani group companies, including Ambuja Cements, Adani Power, Adani Green Energy, Adani Energy Solutions, and Adani Wilmar during the last quarter. GQG boosted its stake in Ambuja Cements by 70 basis points, reaching over 2% by the end of the September quarter.

Meanwhile, Adani Group promoters reduced their stake in Ambuja Cements by 2.76 percentage points to 67.57% during the same period.

Last week, Adani Enterprises raised $500 million through a qualified institutional placement (QIP) and had shareholder approval to raise Rs 166 billion. Earlier in the September quarter, Adani Energy successfully raised $1 billion through a QIP that was oversubscribed by six times, with GQG Partners among the investors.

(ET)

Promoters of the Adani Group have raised their stakes in three group companies during the September quarter while reducing their holdings in Ambuja Cements, aligning with the conglomerate's strategy to rebalance its positions in listed firms. The promoters aim to ultimately hold stakes of 64-68% across the group companies, as reported by ET in August. They increased their stake in Adani Enterprises, Adani Power, and Adani Green Energy during the last quarter. Based on the average share prices for the quarter, the promoters likely spent around Rs 161.34 billion to enhance their holdings in these three companies. Notably, they raised their stake in Adani Green Energy by 3.42 percentage points, reaching 60.94% as of September 30—the highest increase among the group companies. In the flagship Adani Enterprises, the promoters increased their stake by 17 basis points to 74.89% as of September 30, just below the 75% threshold set by the Securities and Exchange Board of India (SEBI). Similarly, in Adani Power, their stake rose by 2.25 percentage points to 74.96%, according to the latest shareholding data. While the promoters increased their stake in Adani Power during the quarter, they plan to reduce it by the end of the year. Sources indicate that they intend to sell a 3% stake to raise approximately Rs 80 billion to Rs 100 billion by year-end. US investment manager GQG Partners also increased its stakes in several Adani group companies, including Ambuja Cements, Adani Power, Adani Green Energy, Adani Energy Solutions, and Adani Wilmar during the last quarter. GQG boosted its stake in Ambuja Cements by 70 basis points, reaching over 2% by the end of the September quarter. Meanwhile, Adani Group promoters reduced their stake in Ambuja Cements by 2.76 percentage points to 67.57% during the same period. Last week, Adani Enterprises raised $500 million through a qualified institutional placement (QIP) and had shareholder approval to raise Rs 166 billion. Earlier in the September quarter, Adani Energy successfully raised $1 billion through a QIP that was oversubscribed by six times, with GQG Partners among the investors. (ET)

Next Story
Technology

BBMP Pledges Faster E-Khata Processing Amid Citizen Complaints

Facing mounting complaints over delays in e-khata issuance, the Bruhat Bengaluru Mahanagara Palike (BBMP) has promised to resolve the issue within 10 days. BBMP Chief Commissioner Tushar Giri Nath assured citizens that efforts are underway to expedite processing rates from the current 2,000 to a target of 10,000–15,000 applications daily. "We have cleared 90% of the 90,000 pending applications, leaving only 4,500 to process. To meet the demand, over 800 additional staff and assistant revenue officers (AROs) have been deployed to manage applications in each ward," Nath stated. Persistent Dela..

Next Story
Real Estate

Delhi HC Orders DDA to Assist CBI in Housing Lapses Probe

The Delhi High Court has instructed the Delhi Development Authority (DDA) to fully cooperate with the Central Bureau of Investigation (CBI) in its probe into alleged lapses in the construction of 336 high-rise HIG/MIG houses at Signature View Apartments, north Delhi. Justice Chandra Dhari Singh emphasized that DDA must furnish information about any internal inquiry and the officials involved to facilitate the investigation. The court noted CBI’s submission that DDA had not responded to multiple reminders since July, delaying the probe. The CBI is investigating allegations of "cheating, crimi..

Next Story
Infrastructure Urban

Mahindra Lifespace to Appeal Tamil Nadu GST Tax Demand

Mahindra Lifespace Developers Ltd has announced a tax demand of Rs 20.9 million imposed by the Tamil Nadu GST department, including interest and penalties. The order, issued by the Assistant Commissioner of State Tax, Chengalpattu, cites an alleged shortfall in GST payments under Section 74 of the GST Act, 2017. The realty firm refuted the allegations, stating, “Based on the company's assessment, there is no noncompliance, and a general penalty has been imposed.” The company plans to appeal the order, expressing confidence in a favorable resolution. Mahindra Lifespace assured stakeholders ..

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