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SBI Mutual Fund (MF) acquired stakes in Adani Enterprises and Adani Energy Solutions through open market transactions.
The transactions were executed at prices ranging between Rs 1,504.80 and Rs 2,913.40 per share, taking the total deal value to Rs 5,747.55 crore.
SBI Mutual Fund (MF) on Friday acquired stakes in two major Adani Group companies — Adani Enterprises and Adani Energy Solutions — for a combined Rs 5,747.55 crore through open market transactions.
According to block deal data available on the National Stock Exchange (NSE), SBI Mutual Fund purchased 1.64 crore shares of Adani Enterprises, representing nearly a 1.3 per cent stake in the company. It also acquired 63.65 lakh shares, equivalent to a 0.52 per cent stake in Adani Energy Solutions.
The transactions were executed at prices ranging between Rs 1,504.80 and Rs 2,913.40 per share, taking the total deal value to Rs 5,747.55 crore.
The seller in both transactions was US-based investment firm GQG Partners through its affiliate GQG Partners Emerging Markets Equity Fund. The fund offloaded the same number of shares that were purchased by SBI Mutual Fund.
The latest acquisition comes barely a month after SBI Mutual Fund increased its exposure to Adani Group companies. In May, the fund house had purchased a 0.45 per cent stake in Adani Enterprises for about Rs 1,435 crore through a block deal.
The transaction signals continued institutional interest in Adani Group stocks, which have seen strong investor participation over the past year amid improving business fundamentals and steady operational performance across key businesses.
Shares of Adani Enterprises ended Friday’s session 2.36 per cent higher at Rs 3,043 apiece on the NSE. Meanwhile, Adani Energy Solutions gained 3.87 per cent to close at Rs 1,578.80 per share.
Market participants will closely watch whether the latest stake purchase by one of the country’s largest mutual fund houses leads to further institutional inflows into Adani Group companies in the coming months.
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