More than 22.5 million shares of Adani Green Energy, the renewable energy arm of embattled Indian conglomerate Adani group, have been picked up by Goldman Sachs Fund through a block deal, as per the data shared by the National Stock Exchange (NSE).
The buyer, "Goldman Sachs Trust II - Goldman Sachs GQC Partners International Opportunities Fund" - purchased a total of 225,22,850 shares in Adani Green Energy at a price of "Rs 504.60" apiece, the data showed. The seller was S B Adani Family Trust, it added.
The transactional price was lower as compared to the closing share price of Adani Green Energy on March 2. The shares settled at Rs 535 apiece at the NSE, which was five percent higher than the previous day's close.
In separate block deals, Adani group companies cumulatively sold shares worth Rs 15,446 crore in secondary equity transactions to US PE firm GQG Partners via block trades.
The block trade transactions pertained to Adani Green, along with Adani Ports and Special Economic Zone, Adani Transmission and the flagship Adani Enterprises.
SB Adani Family Trust also sold 3.87 crore shares of Adani Enterprises via open market transactions, at an average price of Rs 1,410.86 apiece, amounting to more than Rs 5,460 crore.
However, GQG Partners Emerging Markets Equity Fund acquired 90.22 lakh equity shares, and Goldman Sachs Trust II-Goldman Sachs GQG Partners International Opportunities Fund bought 1.51 crore shares at an average price of Rs 1,408.25 per share, which were a total worth over Rs 3,403 crore.
"The investment has made GQG a key investor in the development and growth of critical Indian infrastructure," Adani group said in a statement.
This development comes a day after the conglomerate denied a report which claimed it has secured a $3 billion loan from a Middle-East sovereign wealth fund.
Adani group stocks have taken a beating over the past month after a US-based short-seller released a report alleging stock manipulation and accounting fraud by the company. The company's listed entities have cumulatively lost over Rs 12 lakh crore since the report was released.
However, all ten Adani companies' shares settled higher on March 2, while the combined group market capitalisation touched Rs 7.86 lakh crore.
Shares of Adani Transmission rallied 5 percent, Adani Green Energy advanced 4.99 percent, Adani Wilmar rose 4.99 percent and Adani Power jumped 4.98 percent.
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