Qatar Investment Authority buys over 2.5% stake in Adani Green, promoter group co offloads almost entire stake

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Adani Green Energy Ltd totalling more than 2.5% for over USD 500 million, as per industry sources cited by PTI in its news report. The ESG-focused (environmental, social, and governance) fund has reportedly made two investments in Adani Group companies, the first being Adani Electricity Mumbai Ltd. (AEML).

In 2020, QIA bought a 25.1% share in AEML, a subsidiary of Adani Energy Solutions Ltd, which operates Mumbai, India's energy distribution company, as per the report. Infinite Trade and Investment, a promoter group company of Adani Green Energy, sold a 2.8% share in the company on Monday for ₹4,131 crore in an open market transaction, according to exchange data. The deal size increased to about ₹4,131 crore when the promoter firm sold 4,48,82,500 shares, or 2.8% of the outstanding shares, at a price of ₹920.43 per share.

According to market data, INQ Holding LLC, a wholly-owned subsidiary of Qatar Investment Authority, purchased 4.26 crore shares, or 2.68% of Adani Green Energy. The shares were purchased at an average cost of ₹920 apiece, making the total transaction amount of ₹3,920 crore. Following the transaction, Infinite Trade and Investment's shareholding in Adani Green Energy dropped from 3.37% to 0.57%.

At the end of the June quarter, promoters and promoter group owned a 56.27% share in the company. Qatar Investment Authority (QIA), according to industry insiders, is one of the biggest sovereign funds in the world, according to PTI's news report. "It has invested USD 500 million AGEL.