According to official block deal data from the National Stock Exchange, SBI Mutual Fund purchased a 1.27 percent stake in the Adani Group’s flagship entity, Adani Enterprises, acquiring over 1.64 crore shares. Simultaneously, the asset management firm bought more than 63 lakh shares of Adani Energy Solutions, locking in a 0.52 percent equity stake. The massive open-market transactions were executed within a price range of 1,504.80 rupees to 2,913.40 rupees per share, bringing the cumulative transaction value to exactly 5,747.55 crore rupees.
The seller on the other side of these block deals was the US-based investment firm GQG Partners, led by Rajiv Jain. GQG Partners offloaded the identical number of shares through its affiliate, the GQG Partners Emerging Markets Equity Fund. Market analysts view the transaction primarily as a strategic portfolio rebalancing exercise for the US asset manager. GQG Partners had aggressively built up its position across the Adani conglomerate during the market corrections of early 2023, and the recent massive recovery in these counters presented an ideal profit-booking window.
This deal highlights a substantial, recurring interest from domestic institutional investors in the Adani Group’s infrastructure and energy verticals. Notably, this acquisition follows a prior move by SBI Mutual Fund just last month, when it scooped up a 0.45 percent stake in Adani Enterprises for 1,435 crore rupees. Following the news of this latest high-profile institutional backing, market sentiment turned highly bullish. Shares of Adani Enterprises jumped 2.36 percent to close at 3,043 rupees, while Adani Energy Solutions climbed 3.87 percent to settle at 1,578.80 rupees on the exchange.
