BNP Paribas Acquires Significant Stake in Adani Green Energy

BNP Paribas, a French multinational company, has purchased 6.9 lakh shares of Adani Green Energy from Morgan Stanley, amounting to nearly Rs 56 crore. This acquisition was conducted through open market transactions, resulting in a slight rise in Adani Green Energy's share price.

In a notable transaction in the energy sector, French multinational BNP Paribas acquired a substantial stake in Adani Green Energy on Tuesday. The purchase involved 6.9 lakh shares, reportedly acquired from US-based Morgan Stanley, for nearly Rs 56 crore.

According to block deal data provided by the Bombay Stock Exchange (BSE), the shares were acquired by BNP Paribas through its affiliate, BNP Paribas Financial Markets, at an average price of Rs 808.3 each. Simultaneously, Morgan Stanley's Asian subsidiary, Morgan Stanley Asia (Singapore) Pte, divested the exact count of shares at the mentioned price.

This corporate maneuver saw shares of Adani Green Energy increase by 2.76%, closing at Rs 839.30 apiece on the BSE, reflecting market confidence in the company's trajectory amid strategic investments from international players.

(With inputs from agencies.)