SBI Mutual Fund Acquires Stakes Worth Rs 5,748 Crore in Two Adani Group Companies
SBI Mutual Fund significantly increased its exposure to the Adani Group on Friday, acquiring stakes in Adani Enterprises and Adani Energy Solutions through open market transactions valued at nearly Rs 5,748 crore.
According to block deal data from the NSE, SBI Mutual Fund purchased 1.64 crore shares of Adani Enterprises, amounting to about 1.3 per cent of the company’s equity. The fund house also bought 63.65 lakh shares of Adani Energy Solutions, representing roughly 0.52 per cent ownership in the company.
The combined value of the two transactions stood at Rs 5,747.55 crore, with shares changing hands at prices between Rs 1,504.80 and Rs 2,913.40 apiece.
GQG Partners Sells Matching Stakes
The shares were sold by US-based investment firm GQG Partners through its affiliate, GQG Partners Emerging Markets Equity Fund. The fund offloaded the exact number of shares acquired by SBI Mutual Fund in the block deals.
The transaction marks another major investment by SBI Mutual Fund in Adani Group companies and highlights sustained institutional interest in the conglomerate’s businesses.
Continued Bet on Adani Group
The latest purchase comes shortly after SBI Mutual Fund expanded its holding in Adani Enterprises in May. The fund house had then acquired a 0.45 per cent stake in the flagship company through a block deal worth around Rs 1,435 crore.
The fresh investment suggests growing confidence among large domestic institutions in the Adani Group’s long-term growth prospects, particularly as several of its businesses continue to report strong operational performance and expansion across infrastructure, energy and utility segments.
Adani Stocks End Higher
Both stocks ended Friday’s trading session in positive territory. Adani Enterprises rose 2.36 per cent to close at Rs 3,043 per share on the NSE, while Adani Energy Solutions gained 3.87 per cent to settle at Rs 1,578.80.
The sizeable investment by one of India’s largest mutual fund houses is likely to remain in focus, with investors watching closely for signs of further institutional participation in Adani Group companies in the months ahead.
Comments are closed.