TotalEnergies offloads 1.7% stake in Adani Green Energy for Rs 2,778 crore

Block deals on December 10

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26 Aug, 2025 12:21

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TotalEnergies Renewables Indian Ocean, the subsidiary of global energy company TotalEnergies, has offloaded 1.7 percent equity stake in Adani Green Energy to 17 investors via block deals on December 10.

Adani Green Energy shares corrected nearly 1 percent to Rs 989.8 on the NSE, trading near the lower end of Bollinger Bands.

As per the block deals data, TotalEnergies Renewables sold 2.86 crore equity shares of the Adani group company for Rs 2,778.09 crore. The transaction price was Rs 970 per share.

French corporation TotalEnergies through its two subsidiaries TotalEnergies Renewables Indian Ocean and TotalEnergies Solar Wind Indian Ocean held 18.99 percent stake worth Rs 30,972 crore in the renewable energy solutions provider as of September 2025.

On other side, Quant Mutual Fund was the largest buyer in the block deal executed by TotalEnergies, picking up 1.23 crore shares (0.75 percent stake) for Rs 1,200 crore.

Other 16 investors that acquired remaining 1.62 crore equity shares in the Adani Group company for Rs 1,578.09 crore included BNP Paribas Financial Markets, Edelweiss Mutual Fund, Vanguard Emerging Markets Shares Index Fund, Amity Holdings, Cohesion MK Best Ideas, Visaria Family Trust, and Authum Investment.

Adani Green Energy announced partnership with the French major in 2020 by forming a 50-50 joint venture AGEL23 for the operation of 2.3 GWac/3.1 GWp of solar projects.

Further in January 2021, TotalEnergies acquired a 20 percent stake in Adani Green Energy, followed by formation of two more 50-50 joint ventures for 1.05GWac/1.53GWp and 1.15GWac/1.58GWp of renewable energy projects in 2023 and 2024 respectively. With this, their total renewable projects under joint venture increased to 4.5 GWac/6.2 GWp.

Meanwhile, Vidya Wires was also in action, rising 2.25 percent to Rs 53.17 on the listing day despite stake sale by Citigroup, and Abundantia Capital.

Citigroup Global Markets Mauritius sold 24.95 lakh shares for Rs 13.59 crore at Rs 54.47 per share, and Abundantia Capital offloaded 10.66 lakh shares for Rs 5.54 crore shares at Rs 52 per share.