Promoter entity Adani Infra buys 1.03 pc stake in Adani Green Energy for Rs 2,380 cr

New Delhi: Adani Infra (India) Ltd, a promoter group entity of Adani Green Energy Ltd, has bought 1.03 per cent stake in the company for Rs 2,380 crore, according to block deal data on the NSE.

Adani Infra (India) Ltd purchased 1.7 crore shares, representing a 1.03 per cent stake in Adani Green Energy Ltd (AGEL).

The transactions were executed on Monday at an average price of Rs 1,400 apiece, taking the aggregate deal size to Rs 2,380 crore.

The seller was Ardour Investment Holding Ltd, a promoter entity of AGEL, which offloaded an equal number of shares at the same price, as per the data.

Following the deal, Adani Infra's stake in the renewable energy company increased to 2.34 per cent from 1.31 per cent, while Ardour Investment Holding's stake declined to 4.01 per cent from 5.04 per cent.

After the transaction, shares of Adani Green Energy Ltd (AGEL) rose 1.48 per cent to trade at Rs 1,415.60 apiece on the National Stock Exchange (NSE).

Market participants said the transaction did not result in any change in the company's overall promoter shareholding as the stake was transferred between two promoter group entities.

The latest acquisition comes less than two months after Adani Infra acquired 2.15 crore equity shares or a 1.31 per cent stake in Adani Green Energy from Ardour Investment Holding Ltd for Rs 3,246 crore through open market transactions in June.