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A promoter group entity of Adani Power, Ardour Investment Holding Ltd, has sold a 0.65 per cent stake in the company to another promoter group firm, Adani Infra (India) Ltd, through an open market block deal valued at INR 2,627 crore. Following the transaction, Ardour Investment Holding's stake in Adani Power declined to 3.03 per cent from 3.68 per cent. The latest deal comes after Adani Infra recently increased its holdings in Adani Green Energy through similar promoter-level stake transfers, reflecting an ongoing restructuring of shareholding within the Adani Group.
A promoter group entity of Adani Power, Ardour Investment Holding Ltd, sold 12.48 crore shares of the company through open market block deals, while another promoter group firm, Adani Infra (India) Ltd, acquired the entire stake in a transaction valued at INR 2,627.04 crore.
According to block deal data available on the National Stock Exchange (NSE), Ardour Investment Holding Ltd divested 12.48 crore equity shares, representing a 0.65 per cent stake in Adani Power. The shares were sold at an average price of INR 210.50 per share.
With the completion of the transaction, Ardour Investment Holding Ltd's shareholding in Adani Power has reduced to 3.03 per cent from 3.68 per cent. Adani Infra (India) Ltd purchased an equal number of shares at the same price through the block deal.
Adani Power's stock ended the trading session nearly 2 per cent lower at INR 209.95 per share on the NSE after the transaction.
The latest stake transfer follows another promoter-level deal completed in the past week, when Adani Infra (India) Ltd acquired a 1.03 per cent stake in Adani Green Energy Ltd from Ardour Investment Holding Ltd for INR 2,380 crore. That transaction was also carried out between promoter group entities as part of an internal shareholding transfer.
Before that, in June, Adani Infra (India) Ltd had purchased 2.15 crore equity shares, equivalent to a 1.31 per cent stake in Adani Green Energy, from Ardour Investment Holding Ltd in a deal worth INR 3,246 crore.
The recent transactions indicate a continuing realignment of promoter shareholding within the Adani Group through block deals, while maintaining ownership within promoter entities. Such internal transfers are commonly used by large business groups for capital allocation, treasury management and restructuring of promoter holdings without changing overall promoter control.
Source PTI
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