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.
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