Adani Power shares: GQG Partners-managed entities cut stake to 5.72% from 5.74%

Entities managed by GQG Partners LLC have sold equity shares of Adani Power Ltd through multiple on-market transactions, reducing their combined shareholding in the power producer to 5.72% from 5.74%, according to a regulatory disclosure.

In an exchange filing on the BSE, Adani Power said the entities had sold shares through multiple on-market transactions, resulting in an aggregate change in shareholding exceeding 2% of the company’s total shareholding or voting rights, as specified in the disclosure.

Following the transactions, the combined holding of the acquirer entities and persons acting in concert (PACs) declined to 1,102,436,633 shares, equivalent to a 5.72% stake in Adani Power, from 1,107,475,959 shares, or 5.74%, before the transactions.

The reduction amounts to 5,039,326 shares, while the reported stake declined by 0.02 percentage points.

“We would like to inform you that entities described in Annexure 1 below (‘Acquirer and PACs’) have sold equity shares of Adani Power Limited (‘Company’) by way of multiple on-market transactions resulting in aggregate change of shareholding in excess of 2% (two percent) of the total shareholding or voting rights in the Company. GQG Partners LLC is the investment manager of the Acquirer and PACs and has made the investment decision on behalf of the Acquirer and PACs,” the company said in its filing.

The disclosure also reported no encumbered shares, voting rights other than those attached to equity shares, or warrants and convertible securities entitling the acquirer entities and PACs to receive shares carrying voting rights.

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According to shareholding data available on the BSE, GQG Partners Emerging Markets Equity Fund held 201,378,873 shares, representing a 1.04% stake in Adani Power, as of June 30, 2026. Goldman Sachs Trust II – Goldman Sachs GQG Partners held 558,490,868 shares, equivalent to a 2.90% stake in the company.

Adani Power shares settled 0.53% higher at Rs 189 apiece on the BSE, compared with the previous close of Rs 188. The stock opened at Rs 188.05 and traded in a range of Rs 187.30 to Rs 191.40 during the session.

A combined 204.17 lakh shares of Adani Power, with an estimated value of Rs 386.67 crore, changed hands on the BSE and NSE during the day.

At the prevailing market price, the company commanded a market capitalisation of Rs 3,64,480.73 crore on the BSE.

Adani Power shares have outperformed the benchmark Nifty 50 so far in 2026. The stock has gained 27.05% year to date, while the Nifty 50 has declined by nearly 14% over the same period.

On October 6, Adani Power announced that it had signed a shareholders’ agreement with Druk Green Power Corporation Ltd. (DGPC), Bhutan’s state-owned power generation utility, to develop the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan.

The peaking run-of-river project is planned on the Chamkarchhu River in the Zhemgang district of central Bhutan. It will be developed under the Build, Own, Operate and Transfer (BOOT) model through a 49:51 equity partnership between Adani Power and DGPC, with a concession period of 30 years from the commencement of commercial operations.

Construction is expected to begin in the first half of 2027, with commissioning targeted six years after groundbreaking.

According to the company, the project is expected to expand Bhutan’s clean energy generation capacity and strengthen regional energy cooperation. It is also intended to help meet Bhutan’s peak winter electricity requirements while enabling the export of surplus green power to India during the summer months.

“We are delighted to strengthen our partnership with the Royal Government of Bhutan and DGPC through the Chamkharchhu Hydroelectric Project. Hydropower will play a pivotal role in accelerating South Asia’s energy transition, and this project will contribute significantly to enhancing energy security, reducing carbon intensity, and advancing shared sustainability goals,” Adani Power Managing Director Anil Sardana said.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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