Now Reading: Adani group entities swap Rs 2,498 crore shares in block deal
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Adani group entities swap Rs 2,498 crore shares in block deal
Corrected 30 September 2026: formatting and attribution errors.
The Story in Brief
Adani Group promoter entities swapped 86 lakh shares of Adani Enterprises in block deals worth Rs 2,498 crore on Friday. Adani Properties bought 51.50 lakh shares and Adani Infra (India) acquired 34.50 lakh shares at an average price of Rs 2,905 apiece, while Infinite Trade And Investment sold the same number. The combined promoter holding in the flagship firm remains unchanged. Separately, Adani Power received NCLT approval to merge ten wholly owned subsidiaries, including Vidarbha Industries Power Ltd, a move that consolidates its thermal power operations.
PL Capital initiated coverage on Adani Power with a buy rating and a target price of Rs 259, citing a 25% EBITDA CAGR over FY26-32E and a capacity expansion plan from 18.3GW to 41.9GW by FY32. The brokerage called the Rs 2 lakh crore expansion manageable, with net debt/EBITDA peaking at 2.5 times. Adani Power shares closed 1.7% higher at Rs 203 on the BSE on Friday.
Indian Opinion Analysis
Two separate Adani developments of 25 September sit in this brief. The Adani Enterprises trade was a transfer inside the promoter group: the PTI report carried by The Federal and The Economic Times says Infinite Trade And Investment's holding fell to 1.38 per cent from 2.01 per cent, while the combined promoter holding did not change. The Adani Power news comes from a company filing and a brokerage note. Mint reports that the merger takes effect only after the steps in the approved scheme are completed, with an appointed date of 1 April 2025. PL Capital's buy call, reported by Mint and Business Today, rests on new power purchase agreements with capacity charges of about Rs 3.9 per kWh, against about Re 1 for the existing fleet. It is a brokerage view, not company guidance.
Corrected 30 September 2026: formatting and attribution errors.
Coverage: 5 sources, 5 neutral
Sources (5): livemint.com (neutral report), thefederal.com (neutral report), economictimes.indiatimes.com (neutral report), livemint.com (2) (neutral report), businesstoday.in (neutral report)
This brief was synthesised by AI from the 5 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Updated: this story now draws on 5 sources.
