Adani Enterprises, Adani Ports, Adani Green, Adani Transmission: 4 Adani group cos saw reduction in pledged shares in Q4

Four out of 10 Adani group companies namely Adani Enterprises, Adani Ports and Special Economic Zone (Adani Ports), Adani Green Energy and Adani Transmission -- where the group sold Rs 15,446 crore worth shares in March -- saw a reduction in pledged shares, data available with corporate database AceEquity suggests.

As per the data, promoter pledging in Ambuja Cements and ACC remained unchanged in the March quarter while Adani Power saw a negligible rise in promoter pledging during the same period. Adani Total Gas, Adani Wilmar and NDTV were three group stocks, with no promoter pledging, AceEquity data showed.

The biggest drop was seen in Adani Ports where pledging by promoters fell to 6,14,03,360 shares or 4.66 per cent against 24,35,82,143 shares or 17.31 per cent at the end of December quarter.

Promoters' pledging in Adani Transmission dropped to 2,99,84,213 shares or 3.75 per cent in March quarter from 5,48,26,547 shares or 6.62 per cent in December quarter. Adani Enterprises also saw over 200 basis points drop in promoter pledging.

Pledged shares in Adani Enterprises stood at 50,63,338 and accounted for 0.64 per cent of promoter stake against 2,20,59,334 shares or 2.66 per cent, as on December 31, 2022.

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Last month, GQG Partners bought 38,701,168 Adani Enterprises shares at Rs 1,410.86 apiece for Rs 5,460 crore. It purchased 88,600,000 Adani Ports shares at Rs 596.20 apiece for Rs 5,282 crore. In Adani Transmission, it bought 28,400,000 shares at Rs 668.40, totalling Rs 1,898 crore. Besides, it bought 55,600,000 shares of Adani Green Energy at Rs 504.60, valuing Rs 2,806 crore.

Adani group shares were also recently in news after a media report questions whether the group actually has repaid debts worth $2.15 billion. The group refuted the claim and said that it completed the full prepayment of margin linked share backed financing aggregating to $2.15 billion, adding that all corresponding shares pledged for those facilities were released.

Earlier, in a media release of February 6, the Adani group said 12 per cent of Adani Ports shares were released, 3 per cent of Adani Green Energy shares and 1.4 per cent of Adani Transmission shares were released.

Data showed promoter pledging in ACC stayed unchanged at 1,24,72,807 shares or 11.72 per cent at the end of March quarter. The entire promoters stake (1,25,38,58,803 shares) in Ambuja Cements were pledged as of March 31. Meanwhile, Adani Power saw a slight increase in promoter pledging at 25.15 per cent (72,72,16,459 shares) against 25.01 per cent (72,32,68,959 shares).

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