Adani Green Energy is the renewable energy arm of the Adani Group.
According to BSE data, INQ Holding bought 4.26 crore shares in Adani Green Energy in a bulk deal at ₹920 apiece.
Infinite Trade and Investment, a promoter entity of Adani Green Energy, sold 4.48 crore shares, or 2.8%, at ₹920.43 apiece for ₹4,131 crore.
The deal marks another significant portfolio investment into Adani Green Energy a little over a month after GQG Partners and other investors acquired stakes in the company and in group company Adani Enterprises.
GQG had raised its stake in Adani Green from 3.50% to 6.32%, investing $1.17 billion (₹9,600 crore) at the time.
Adani Green Energy did not respond to an email till press time. On July 31, Adani Green Energy, had reported a consolidated profit of ₹323 crore, up 51% for the quarter ended June 2023. It was at ₹214 crore during the corresponding quarter in FY22. Total income was up 41% at ₹2,404 crore.
The company aims to grow its renewable power capacity to 45 GW by 2030 through solar, wind and solar-wind hybrid solutions as major contributors. The group has operational capacity of 8,316 MW as on 30 June, 2023, compared to 5,800 MW as on June 30, 2022.
The company raised ₹12,300 crore via QIP in July to expand its green energy operations.
The Adani Green’s stock ended at ₹965.05, down 4.69% on the BSE on Monday. The benchmark Sensex gained 0.35% during the session.