SB Adani Family Trust sold 18 million shares or 1.6 per cent of the share capital of Adani Enterprises for Rs 4,140 crore, according to NSE data. Infinite Trade and Investment sold 4.6 crore shares of Adani Green Energy. The three percent stake in the company was sold for Rs 4,232 crore.
After Wednesday’s transaction, GQG Partners’ stake in Adani Enterprises increased from 3.39 percent to 4.96 percent and its stake in Adani Green Energy from 3.5 percent to 6.32 percent.
The Adani Group did not specify the reasons behind the promoters’ latest stake sale. The proceeds from the share sale in March this year were used to repay part of the company’s debt.
There were reports of the Adani Group prepaying outstanding loans.
GQG Partners alone had invested $640 million in Adani Enterprises and $330 million in Green Energy on March 2 this year.
Gautam Adani stated in a message to the shareholders that Hindenburg made a deliberate attack on the Adani Group and reaped huge profits by depressing the company’s share price. But Adani indicated that although the SEBI report was not submitted, the committee appointed by the Supreme Court to investigate could not find any violations of the law. Stating that he has faith in the company’s operations and that there have been no violations, Adani has also announced big projects in the IT and clean energy sectors by 2030.
