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Adani family sells $1.1 bn power arm stake to GQG
Mint Mumbai
|August 17, 2023
The promoters of Adani Group on Wednesday raised around ₹9,000 crore by selling 8.1% of their holding in the energy-generation arm Adani Power Ltd, marking billionaire Gautam Adani’s largest equity capital-raising through a share sale in a single entity.
After amassing stakes worth at least ₹26,445 crore ($3.18 billion) in multiple Adani group firms through secondary market transactions since March, India-born Rajiv Jain-led investment management firm GQG Partners Llp bought an additional stake worth over $1.1 billion from the promoters of Adani Power.
"This is the largest ever secondary equity transaction with GQG Partners," said a person directly aware of the development.
As of 30 June, promoter entities, including Adani Tradeline Pvt. Ltd owned 9.78% of Adani Power; Worldwide Emerging Market Holding Ltd held 5%; Flourishing Trade and Investment Ltd owned 11.46%; Afro Asia Trade and Investments Ltd held 6.88%; and Emerging Market Investment Dmcc had 4.99%.
Gautam Adani’s family trust (including Gautam Adani and Rajeshbhai Shantilal Adani) is the largest promoter group in the firm, with a 36.86% stake.
Cette histoire est tirée de l'édition August 17, 2023 de Mint Mumbai.
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