Gautam Adani, Rajesh Adani Revoke Shares Worth Rs 8,638 Crore Of Adani Power

Gautam Adani and Rajesh Adani, on behalf of SB Adani Family Trust, have revoked their pledged shares of Adani Power Ltd.

The promoters of the company revoked a pledge for 14.87 crore shares worth Rs 8,638 crore on May 7, according to BSE Insider Trading data on Wednesday.

On March 30, 2020, the trust created a pledge for 1.40 crore shares worth Rs 37.52 crore.

Since November 2019, the trust has pledged a total of 7.07 crore shares worth Rs 254 crore. It last revoked 25 crore of pledged shares on Sept. 5, 2023.

The city power distribution company reported a 30.47% growth in revenue in the fourth quarter of fiscal 2024 at Rs 13,363.69 crore, as against Rs 10,242.06 crore over the same period last year.

Adani Power has started developing a 2x800 megawatt ultra super-critical thermal power plant expansion project at its existing 600-MW plant at Raigarh, Chhattisgarh.