TotalEnergies Divests Stake in Adani Green Energy

TotalEnergies sold a 1.74% stake in Adani Green Energy for Rs 2,778 crore. The transaction, executed through TotalEnergies Renewables Indian Ocean Ltd, reduced its holding to 17.25%. Key buyers included Cohesion Asset Management and Edelweiss Mutual Fund. Shares of Adani Green Energy dropped 1.14%.

French multinational company TotalEnergies, on Wednesday, divested a 1.74% stake in Adani Green Energy, securing Rs 2,778 crore through an open market transaction.

The sale was conducted by TotalEnergies Renewables Indian Ocean Ltd, which offloaded over 2.86 crore equity shares at Rs 970 each, as indicated by the National Stock Exchange block deal data.

Following this transaction, TotalEnergies' stake in Adani Green diminished from 18.99% to 17.25%, with various investors, including Madhu Kela's Cohesion Asset Management and Edelweiss Mutual Fund, acquiring the shares. Subsequently, Adani Green's shares witnessed a 1.14% dip, closing at Rs 987.50.