Qatar Sovereign Wealth Fund Buys Stake in Adani Green Energy
Posted on 08/07/2023
INQ Holding LLC is a sovereign wealth enterprise of the Qatar Investment Authority (QIA). INQ Holding purchased a 2.7% stake for Rs 3,920 crore in Adani Green Energy Ltd. in a bulk deal. The Qatari sovereign wealth fund acquired 4.26 crore shares in the Adani Group company at Rs 920 apiece, according to BSE data. Infinite Trade and Investment Ltd. is a promoter entity in Adani Green Energy that sold sold 4.48 crore shares or 2.8% at Rs 920.43 apiece for Rs 4.131 crore.
After the transaction, Infinite Trade and Investment’s shareholding reduced to 0.54% from 3.37% stake in Adani Green Energy. Promoters and the promoter group held 56.27% stake in the company at the end of the June 2023.
