Adani Infra (India) Ltd, a promoter group entity of Adani Green Energy Ltd, has acquired a 1.03 per cent stake in the renewable energy company for ₹2,389 crore, according to latest stock exchange filings. The transaction involved purchase of 1.70 crore shares at an average price of ₹1,400 per share, executed through a block deal on Monday. The seller was Ardour Investment Holding Ltd, another promoter entity of AGEL, which offloaded an equal number of shares at the same price. As per ET Now, the deal further strengthens the Adani Group's holding in one of India's largest clean energy companies.
Following the deal, Adani Infra's stake in Adani Green Energy increased to 2.34 per cent from 1.31 per cent, while Ardour Investment Holding's stake declined to 4.01 per cent from 5.04 per cent. According to the company's clarification, the transaction is an inter-se promoter transfer, meaning there is no change in the overall promoter shareholding in Adani Green Energy. The latest acquisition comes less than two months after Adani Infra acquired 2.15 crore equity shares or a 1.31 per cent stake in Adani Green Energy from Ardour Investment Holding Ltd for ₹3,246 crore through open market transactions in June.
In a related development, a promoter group entity of Adani Power sold 12.48 crore shares worth ₹2,627 crore through open market transactions on Tuesday, according to Business Standard. Ardour Investment Holding Ltd offloaded these shares at an average price of ₹210.50 per share, representing a 0.65 per cent stake in Adani Power Ltd. Following this transaction, Ardour Investment Holding's stakeholding in Adani Power has declined to 3.03 per cent from 3.68 per cent. Adani Infra purchased an equal number of shares at the same price in both transactions.
Shares of Adani Green Energy Ltd (AGEL) rose 1.48 per cent to trade at ₹1,415.60 apiece on the National Stock Exchange (NSE) following the announcement. The positive market reaction suggests investor confidence in the promoter group's strategic restructuring of shareholding within the Adani Group entities. The company's clarification that the deal is an inter-se promoter transfer, with no change in overall promoter shareholding, has been well-received by market participants. Meanwhile, shares of Adani Power fell nearly 2 per cent to close at ₹209.95 on the NSE following the additional transaction.
