Qatar Sovereign Wealth Fund Buys 2.7% Stake In Adani Green Energy For Rs 3,920 Crore
Qatar's sovereign wealth fund's arm INQ Holding LLC bought a 2.7% stake for Rs 3,920 crore in Adani Green Energy Ltd. on Monday.
In a bulk deal, INQ Holding, a wholly owned subsidiary of Qatar Investment Authority, bought 4.26 crore shares in the Adani Group company at Rs 920 apiece, according to BSE data.
Infinite Trade and Investment Ltd., a promoter entity in Adani Green Energy, sold 4.48 crore shares or 2.8% at Rs 920.43 apiece for Rs 4.131 crore.
After the transaction, Infinite Trade and Investment's shareholding reduced to 0.54% from 3.37% stake in Adani Green Energy. Promoters and the promoter group held 56.27% stake in the company at the end of the June quarter.
The deal marks another investment into the green energy arm of the billionaire Gautam Adani-led group, a little over a month after GQG Partners and other investors acquired stakes in the company and group peer Adani Enterprises Ltd.
GQG had raised its stake in Adani Green from 3.50% to 6.32%, valued at $1.17 billion (Rs 9,600 crore) at the time.
Adani Green Energy had reported a 51% jump in profit for the quarter ended June. The company's first-quarter net profit rose to Rs 323 crore compared with Rs 214 crore in the same period last fiscal.
Shares of Adani Green Energy closed 4.61% lower at Rs 965.9 apiece on Monday compared to a 0.41% gain in the benchmark Nifty 50.
Disclaimer: AMG Media Networks Ltd. owns 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime Brand.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
