Promoter group entities and GQG Partners have raised their stakes in Adani Group companies during the September quarter, according to the latest shareholding data. Adani Group promoters increased their stakes in three listed entities, namely Adani Enterprises Ltd., Adani Green Energy Ltd., and Adani Power Ltd., while reducing their stake in Ambuja Cements. Ltd. and Adani Energy Solutions Ltd.
Promoter and promoter group reduced their stake in Adani Energy Solutions Ltd. from 74.94% to 69.94%. Additionally, their stake in Ambuja Cements Ltd. decreased from 70.33% to 67.57%.
The stake of promoter and promoter group increased in Adani Enterprises Ltd. from 74.72 to 74.89%, while in Adani Green Energy Ltd., promoter holdings rose from 57.52% to 60.94%, and its holdings in Adani Power increased from 72.71% to 74.96%.
NRI investor Rajiv Jain-led GQG Partners also increased their stake in four Adani Group companies during the September quarter when the promoters' divested stakes in two companies.
GQG Partners Emerging Markets Equity Fund and Goldman Sachs Trust II—Goldman Sachs GQG Partners International Opportunities Fund—two entities linked to GQG Partners—raised their combined stake from 4.57% to 4.7% in Adani Energy Solutions Ltd., as per the shareholding data available with the Bombay Stock Exchange.
Similarly, GQG Partners, through its two affiliates, raised a combined stake in Adani Green Energy to 4.21% from 4.16% and in Adani Enterprises to 3.52% from 3.4%.
GQG Partners, through his single affiliate—Gqg Partners Emerging Markets Equity Fund—raised stake in Ambuja Cements Ltd. to 2.05% from 1.35%.
The state-run Life Insurance Corp. of India, which holds stakes in seven Adani companies, has reduced its holdings in two of them.
In ACC, LIC has reduced its stake slightly from 6.4% in the June quarter to 6.39% in the September quarter. Similarly, its ownership in Adani Energy Solutions fell from 3.68% to 2.78% sequentially.
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