Qatar fund buys stake in Adani Green for Rs 3,920 cr

Manooj Jain

MUMBAI: Qatar’s sovereign wealth fund’s arm INQ Holding LLC bought a 2.7% stake for Rs 3,920 crore in Adani Green Energy Ltd. on August 7. In a bulk deal, INQ Holding, a wholly owned subsidiary of Qatar Investment Authority, bought 4.26 crore shares in the Adani Group company at Rs 920 apiece, according to BSE data.

Infinite Trade and Investment Ltd., a promoter entity in Adani Green Energy, sold 4.48 crore shares or 2.8% at Rs 920.43 apiece for Rs 4.131 crore.

After the transaction, Infinite Trade and Investment’s shareholding reduced to 0.54% from 3.37% stake in Adani Green Energy. Promoters and the promoter group held 56.27% stake in the company at the end of the June quarter.

The deal marks another investment into the green energy arm of the Gautam Adani-led group, a little over a month after GQG Partners and other investors acquired stakes in the company and group peer Adani Enterprises Ltd.