Qatar Investment Authority (QIA) has acquired roughly INR 39 billion (USD 473.4m/EUR 410.1m) worth of shares in Adani Green Energy Ltd (BOM:541450), the renewables business of India’s Adani Group.
According to the announced block deals on the Bombay stock exchange on Monday, Infinite Trade and Investment, a promoter group entity of Adani Green Energy has offloaded 44.88 million shares in Adani Green for INR 41.31 billion. Another transaction was carried out by QIA’s subsidiary INQ Holding LLC, for the purchase of 42.6 million shares in the Indian business for a total of INR 39.2 billion.
The Press Trust of India (PTI) reports that Qatar’s sovereign wealth fund has purchased shares representing a stake of more than 2.5% in Adani Green. Infinite Trade’s divested stock is equal to a 2.8% stake, with the deal leaving the entity with a 0.57% interest in Adani’s renewables business.
Gujarat-based Adani Green had 8.1 GW of capacity in its operational fleet at the end of March. The company aims at reaching 45 GW by 2030.
(INR 10 = USD 0.121/EUR 0.110)