This is one of the several recent stake sales by billionaire Gautam Adani aimed at cutting promoter-level debt and releasing stock pledges. At current market prices, around ₹31,095 crore ($3.75 billion) is required by the promoters to release the shares pledged by the promoters in five key group firms. Additionally, shares worth $7.18 billion or ₹59,436 crore and ₹2,532 crore are pledged by the promoters in Ambuja Cements Ltd and ACC Ltd.
QIA has been a significant investor in the Adani Group. In 2020, it invested ₹3,220 crore to acquire a 25.1% stake in Adani Electricity Mumbai Ltd, a part of the group's energy distribution arm, Adani Transmission Ltd.
According to regulatory filings, Infinite Trade and Investment Ltd, an Adani Group promoter, cut its stake from 3.37% to 2.83% in Adani Green. In a series of block deals, Infinite Trade and Investment sold 42.6 million shares of Adani Green to QIA at ₹920 per share, worth around $474 million. An additional 2.28 million shares were sold by the Adani group promoter to other investors. Shares of Adani Green fell 4.7% to 1965 on BSE.
هذه القصة مأخوذة من طبعة August 08, 2023 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة August 08, 2023 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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