Jobaaj Stories
March 2025 Quarter Update: Foreign institutional investors (FIIs) reduced their holdings in Adani Group companies by approximately Rs 3,600 crore during the March 2025 quarter, while domestic institutional investors, led by Life Insurance Corporation of India (LIC), significantly increased their stakes.
FII Divestments
FIIs divested from five Adani entities:
- Adani Green Energy: FII holdings dropped to 12.45% from 13.68%, a reduction of Rs 1,850 crore.
- Adani Ports & SEZ: Holdings fell to 13.42% from 13.93%, equating to Rs 1,310 crore.
- Ambuja Cements: Stake reduced by 0.54% to 8.6%, amounting to Rs 700 crore.
- ACC: Holdings decreased by 0.31% to 4.83%, worth Rs 110 crore.
- Adani Enterprises: Divestment of Rs 54 crore.
GQG Group's Moves
GQG Group marginally increased its stakes in select Adani firms:
- Adani Green Energy: Stake rose to 4.49% from 4.21% (Rs 430 crore).
- Adani Enterprises: Increased to 3.84% from 3.67% (Rs 430 crore).
- Adani Energy Solutions: Holdings up to 5.23% from 5.10% (Rs 141 crore).
- Adani Power: Stake rose to 5.10% from 5.08% (Rs 30 crore).
- Adani Ports & SEZ: Reduced stake to 3.93% from 4.02%, selling Rs 225 crore.
Domestic Institutional Inflows
LIC led domestic investments with Rs 2,050 crore across Adani firms, followed by insurance companies (Rs 1,865 crore), pension funds (Rs 1,050 crore), and mutual funds (Rs 1,600 crore).
LIC’s Key Investments:
- Ambuja Cements: Stake up by 0.48% to 5.55% (Rs 636 crore).
- Adani Ports & SEZ: Increased by 0.24% to 8.10% (Rs 631 crore).
- ACC: Up by 1.12% to 7.69% (Rs 412 crore).
- Adani Enterprises: Up by 0.14% (Rs 362 crore).
Insurance Companies: Invested Rs 550 crore in Ambuja Cements, Rs 475 crore in Adani Ports & SEZ, Rs 433 crore in ACC, and Rs 335 crore in Adani Enterprises.
Pension Funds: Focused on Adani Ports & SEZ (Rs 871 crore) and Ambuja Cements (Rs 192 crore).
Mutual Funds: Increased stakes in Adani Green Energy (Rs 973 crore), Adani Energy Solutions (Rs 563 crore), Adani Enterprises (Rs 322 crore), and Ambuja Cements (Rs 127 crore), but trimmed holdings in ACC (Rs 338 crore), Adani Ports & SEZ (Rs 92 crore), and Adani Total Gas (Rs 127 crore).
Legal Developments
In November 2024, U.S. federal prosecutors in Brooklyn unsealed an indictment alleging that the Adani Group bribed Indian officials to secure electricity contracts through Adani Green Energy and misled U.S. investors about its anti-corruption policies. The U.S. Securities and Exchange Commission (SEC) filed a civil suit alongside the Department of Justice’s criminal charges.
The Adani Group has denied these allegations, calling them “baseless” and stating it will pursue “all possible legal recourse.” As of mid-February 2025, the SEC is seeking assistance from India’s Ministry of Law and Justice to serve its complaint to Gautam Adani and Sagar Adani, who are residing in India.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice. Investments in securities involve risks, and past performance is not indicative of future results. Readers are advised to conduct their own research or consult with a financial advisor before making investment decisions. Jobaaj News is not responsible for any financial losses or damages resulting from decisions based on this information.
Source: Compiled from publicly available data and reports on Adani Group’s shareholding patterns for the March 2025 quarter, as well as legal updates from U.S. federal prosecutors and the SEC, as reported in February 2025.
