Why Has SBI Mutual Fund Increased Its Exposure To Adani Group Companies?
SBI Mutual Fund has further strengthened its position in Adani Group companies by acquiring stakes in Adani Enterprises and Adani Energy Solutions through open market transactions worth ₹5,747 crore.
The purchases were made on Friday from US-based investment firm GQG Partners, one of the largest institutional investors in the Adani Group. The transaction highlights continued investor interest in Adani stocks despite market volatility and follows another significant investment by SBI Mutual Fund in the conglomerate last month.
The latest acquisition comes at a time when Adani Group companies continue to attract institutional capital amid improving financial performance, infrastructure expansion, and strong participation from domestic investors.
Which Adani Companies Were Part Of The Transaction?
According to block deal data available on the National Stock Exchange (NSE), SBI Mutual Fund acquired shares in two listed Adani Group entities.
The fund purchased 1,64,39,984 shares of Adani Enterprises, representing nearly a 1.3% stake in the flagship company of the Adani Group.
In addition, SBI Mutual Fund acquired 63,65,796 shares of Adani Energy Solutions, amounting to approximately 0.52% ownership in the company.
The shares were bought through bulk transactions executed on the stock exchange during Friday’s trading session.
How Much Was The Deal Worth?
The shares were purchased at prices ranging between ₹1,504.80 and ₹2,913.40 per share, depending on the company involved.
Based on the disclosed transaction details, the combined value of the stake purchases stood at approximately ₹5,747.55 crore.
The seller in both transactions was Rajiv Jain-backed GQG Partners through its affiliate, GQG Partners Emerging Markets Equity Fund.
GQG Partners has been among the most prominent foreign institutional investors in the Adani Group since making substantial investments in the conglomerate following the market turmoil triggered by the Hindenburg Research report in early 2023.
Is This SBI Mutual Fund’s First Recent Investment In Adani?
The latest purchase marks another major investment by SBI Mutual Fund in Adani Group companies.
Last month, the fund house acquired a 0.45% stake in Adani Enterprises for approximately ₹1,435 crore through a separate market transaction.
The consecutive purchases indicate growing confidence among domestic institutional investors regarding the long-term prospects of Adani Group businesses.
Adani Enterprises, the group’s flagship incubator company, has interests spanning airports, data centers, roads, mining services, green hydrogen, and infrastructure development.
Meanwhile, Adani Energy Solutions plays a key role in India’s power transmission and distribution infrastructure ecosystem.
How Did The Market React?
Shares of both companies ended the trading session higher following the transaction.
Adani Enterprises gained 2.36% to close at ₹3,043 per share on the NSE, while Adani Energy Solutions rose 3.87% to settle at ₹1,578.80 per share.
Market participants viewed the large institutional transaction as a positive signal, reflecting sustained investor interest in Adani Group stocks.
The development also underscores the growing role of domestic mutual funds in supporting equity markets and participating in large strategic transactions involving some of India’s biggest listed companies.
