This investment comes hot on the heels of reports that the same fund is considering the acquisition of a one per cent stake in Reliance Retail Venture
BENGALURU (Reuters) - Qatar Investment Authority (QIA) likely picked up shares worth $500 million in India's Adani Green Energy via block deals on Monday
At 09:15 AM; around 44.24 million shares representing 2.8 per cent of total equity of AGEL changed hands on the BSE, the exchange data shows.
The retail connect vertical will comprise existing distribution, smart metering, cooling systems, parallel distribution licenses, and energy solutions
The cash profit was up 55 per cent to Rs 1,051 crore from Rs 680 crore in the June quarter last year
Billionaire Gautam Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies." "In the most recent instance, Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd," it said. "This ensures higher capital availability at the group level, for growth as well as near-term commitments of both debt and equity for the portfolio companies over the next 12-18 months." In addition, the three portfolio companies have also received board approval
The company intends to build the facility faster than any project in its execution history, Gautam Adani said
Adani Green Energy (up 10% at Rs 1,089.15), Adani Total Gas (up 5% at Rs 662.45), and NDTV (up 5% at Rs 238.75) were locked in their respective upper circuit limits
Mundra Petrochem, an arm of Adani Enterprise has set its eyes on installing the plant with an annual capacity of one million tonnes in the first phase at a total cost of $2.5 million
Gautam Adani added that the Securities and Exchange Board of India is still to submit its report, but the group remains 'confident of governance and disclosure standards'
Adani Enterprises Ltd and Adani Transmission had earlier announced they will raise funds worth Rs 21,000 cr
Adani Green Energy Ltd.'s board will discuss plans to raise funds from institutional investors on Thursday
The Adani family owns over 60 per cent stake in the group's listed companies, except Adani Green Energy and ACC Ltd
US-based boutique investment firm GQG Partners has ramped up its shareholding in two Adani group companies to more than 5 per cent in signs of its confidence in the group despite the damning report of a US short seller. On June 28, GQG bought USD 1 billion (Rs 8,265 crore) worth of additional stakes in the group's flagship Adani Enterprises Ltd and renewable energy firm Adani Green Energy Ltd. The stake sale in Adani Enterprise was through one block deal, where GQG bought 1.79 crore, or 1.58 per cent, more shares to take its holding to 6.15 crore shares or 5.4 per cent of the total, according to stock exchange filings. A separate filing showed that billionaire Gautam Adani and his brother Rajesh S Adani had sold the shares of the promoter family. This has reduced the Adani family's stake in Adani Enterprises to 67.65 per cent from 69.23 per cent previously. In Adani Green Energy, GQQ bought 4.47 crore or 2.82 per cent additional shares to take its holding to 10.35 crore shares or 6
Firm had invested $ 2.3 bn in group cos in March; flagship AEL gains over 5%, AGEL ends flat
Till 10:49 am; around 23 million shares of Adani Enterprises had changed hands, as compared to an average sub 7 million shares traded over last 10 days on the NSE
The flagship of Indian billionaire Gautam Adani saw 18 million shares traded in a single block Wednesday, or about 1.6% of its outstanding stock, according to data compiled by Bloomberg
The proceeds will be used by the promoters to pre-pay debt, banking sources said
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