According to information provided by NSE, SB Adani Family Trust sold the shares for Rs 504.60 each.
Goldman Sachs Fund purchased more than 22.5 million shares of Adani Green Energy, the renewable energy division of the troubled Indian conglomerate Adani group, in a block transaction, according to information provided by the National Stock Exchange (NSE) on March 2.
The data indicated that the buyer, “Goldman Sachs Trust II – Goldman Sachs GQC Partners International Opportunities Fund,” bought 225,22,850 shares of Adani Green Energy in total, at a cost of “Rs 504.60” per share. S B Adani Family Trust was the seller, it continued.
Compared to Adani Green Energy’s closing share price on March 2, the transaction price was less. The shares increased 5% from the previous day’s finish to conclude at Rs 535 a share on the NSE.
Adani group firms sold shares worth Rs 15,446 crore in secondary equity transactions to US PE company GQG Partners in separate block sales.
Adani Green, Adani Ports and Special Economic Zone, Adani Transmission, and the flagship Adani Enterprises were all involved in the block trade activities.
Meanwhile, the SB Adani Family Trust raised more than Rs 5,460 crore by selling 3.87 crore shares of Adani Enterprises through open market transactions at an average cost of Rs 1,410.86 per.
Nevertheless, the GQG Partners Emerging Markets Equity Fund purchased 90.22 lakh equity shares, and the Goldman Sachs Trust II-Goldman Sachs GQG Partners International Opportunities Fund purchased 1.51 crore shares at an average price of Rs. 1,408.25 each, for a combined purchase price of more than Rs. 3,403 crore.
The investment has made GQG a significant stakeholder in the expansion and development of crucial Indian infrastructure, according to a statement from the Adani group.
The company refuted a story the previous day that said it had obtained a $3 billion loan from a Middle-Eastern sovereign wealth fund, and that rumour has now been followed by this event.
As a US-based short seller published a research claiming market manipulation and accounting fraud by the firm, shares of the Adani group have fallen over the previous month. After the publication of the report, the company’s listed businesses have together lost more than Rs 12 lakh crore.
On March 2, however, the shares of all 10 Adani firms ended the day higher, and the combined group market capitalization reached Rs 7.86 lakh crore.
Adani Transmission shares increased 5%, Adani Green Energy shares rose 4.99%, Adani Wilmar shares rose 4.99%, and Adani Power shares rose 4.98%.
