Promoters raise $500 mn via Adani Green stake sale to QIA
1 year, 4 months ago

Promoters raise $500 mn via Adani Green stake sale to QIA

Live Mint  

MUMBAI : The promoters of Adani Group raised about $500 million by selling a part of their holdings in Adani Green Energy Ltd to investors, including INQ Holding Llc, a wholly owned unit of sovereign fund Qatar Investment Authority. 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. 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. US-based boutique asset management firm GQG Partners Llp has purchased around $3 billion worth of shares from the promoters in various Adani Group firms.

History of this topic

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