Home / Companies / News /  Over $1.1 bn of shares pledged in 3 Adani firms: Who are the promoters? Check details

Amidst the recent market volatility that led to market losses topping $110 billion, Adani Group on Monday announced that promoters have paid the amounts to prepay $1.114 billion ahead of its maturity of September 2024. Following this repayment, Adani will release equity shares in three of its firms in due course. These firms are Adani Ports, Adani Green, and Adani Transmission. The Gautam Adani-backed group said, this is in continuation of the promoters’ assurance to prepay all share-backed financing.

As per the statement, the shares that will be released are:

A total of 168.27 million shares representing 12% of the promoters holding in Adani Ports will be released; while 27.56 shares representing 3% of promoters holding in Adani Green; and 11.77 million shares representing 1.4% of promoters holding in Adani Transmission.

Although the names of the promoters who have pledged their shares in Adani are not revealed, however, the details of the promoter and promoter group in these three companies are available on BSE.

What does pledging shares mean?

Generally, this medium is a last resort taken by promoters of a company to meet a host of financial requirements in an emergency. Promoters of a company pledge a portion of their shares as collateral for many reasons such as debt repayment, business expansion, the opening of a new business, CAPEX requirement, or borrowing funds against them.

When it comes to taking a loan against these pledged shares, they become secured borrowing as the shares are offered as collateral.

Adani Ports & Special Economic Zone:

As per the shareholding pattern on BSE, there are 14 promoters and promoter groups in Adani Ports as of December 31, 2022. Together, these promoters hold over 140.69 crore equity shares representing a 65.13% stake.

Of the total shares, 8 promoters are Individuals/Hindu undivided Family holding 46.75% stake in the company, while the rest 6 are foreign investors holding 18.38% stake.

The data showed that Gautambhai Shantilal Adani & Rajeshbhai Shantilal Adan on behalf of S. B. Adani Family Trust, holds over 79.93 crore shares or 37% stake. While Adani Tradeline Private Limited holds nearly 9.66 crore equity shares or 4.47%, Adani Rail Infra Private Limited holds 7.06 crore equity shares or 3.27%.

Also, Adani Properties' shareholding is 16.85 lakh shares or 0.08%, and Adani Tradeline LLP holds over 4.16 crore equity shares or 1.93%.

Under the foreign category, four investors are Mauritius based. These are:

- Flourishing Trade And Investment Ltd hold 12.44 crore equity shares or 5.76% in Adani Ports.

- Afro Asia Trade And Investments Limited hold 8.99 crore equity shares or 4.16%.

- Worldwide Emerging Market Holding Limited holds nearly 8.61 crore equity shares or 3.99%.

- Spitze Trade And Investment Limited holds over 1.23 crore equity shares or 0.57%.

Another foreign investor is Dubai-based Emerging Market Investment DMCC holding nearly 8.42 crore equity shares or 3.90% in Adani Ports. However, other investor would be Gelt Bery Trade And Investment also Mauritius-based which holds about merely 100 equity shares in the company.

The five investors in the foreign category have only Adani stocks in their portfolios.

As per Trendlyne data, Flourishing Trade's investment in Adani Ports began in March 2020. Afro Asia Trade added the company to its portfolio in December 2016. Meanwhile, Worldwide Emerging Market and Emerging Market Investment DMCC started investment in June 2016. The latest investor would be Spitze Trade which began investment in Adani Ports in December 2022.

Adani Ports' share price closed at 546.05 apiece up by 47.20 or 9.46% on BSE. It was the only Adani stock in the green on Monday.

Adani Green Energy:

According to BSE data, there is a total of 9 promoters in Adani Green Energy with shareholding at over 96.23 crore equity shares or 60.75%.

6 promoters belong to Individuals/Hindu undivided Family, and 3 are foreign investors.

Under individuals/HUF:

- Adani Trading Services LLP is the largest shareholder with 47.43 crore equity shares or 29.94% in Adani Green.

- Gautambhai Shantilal Adani on behalf of S. B. Adani Family Trust holds nearly 38.43 crore equity shares or 24.27%.

Other investors are Rahi Rajeshkumar Adani and Vanshi Rajesh Adani holding 1 lakh equity shares.

Under foreign investors:

- Infinite Trade And Investment hold over 9.94 crore equity shares or 6.28%.

- Spitze Trade and Investment hold 40 lakh shares or 0.25%.

- Gelt Berry Trade and Investment has 100 equity shares of Adani Green.

On BSE, Adani Green's share price closed at a 5% lower circuit at 887.55 apiece. This would be its third consecutive lower circuit, while the stock is down for four days in a row.

Adani Transmission:

In Adani Transmission, 9 promoters are holding over 82.76 crore equity shares or 74.19% as of December 2022 end.

Promoters in the category of Individuals/Hindu undivided Family are:

- Gautam S. Adani/ Rajesh S. Adani on behalf of S. B. Adani Family Trust holds 63 crore equity shares or 56.48% stake.

- Adani Tradeline Private Limited holds nearly 9.95 crore equity shares or 8.92%.

Together, Indian promoters hold 65.40% or 72.95 crore equity shares.

Foreign investors:

- Afro Asia Trade And Investments hold over 3.02 crore equity shares or 2.71%.

- Worldwide Emerging Market Holding holds over 3.02 crore equity shares or 2.71%.

- Flourishing Trade And Investment hold 36.88 lakh shares or 0.33%.

- Fortitude Trade and Investment holds over 3.39 crore equity shares or 3.04%.

- Gelt Bery Trade and Investment holds 100 shares in the company.

On BSE, Adani Total Gas shares closed at a 10% lower circuit of 1,261.40 apiece. This would be its seventh consecutive lower circuit, while the shares have dropped for ten days straight.

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