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					</table><p><a href="https://www.inqholdings.com/" target="_blank" rel="noopener">INQ Holdings</a>, a wholly-owned subsidiary of the <a href="https://www.qia.qa/en/Pages/default.aspx" target="_blank" rel="noopener">Qatar Investment Authority</a>, has acquired a significant stake in Adani Green Energy (<a href="https://www.adanigreenenergy.com/">AGEL</a>) by purchasing 42.6 million shares. The transaction took place at a price of ₹920 (~$11.11) per share, taking the total transaction value to ₹39.2 billion (~$472 million).</p>
<p>INQ bought the shares after Infinite Trade and Investment, a stakeholder of Adani Green, divested 44.88 million shares in the company for ₹41.3 billion (~$498 million).</p>
<p>This is Qatar Investment Authority&#8217;s second investment in an Adani group company after Adani Electricity Mumbai. In 2019, the sovereign fund invested ₹32 billion (~$386 million) for a 25.1% stake in the Adani subsidiary, which owns the power distribution business in Mumbai.</p>
<p>Adani Green <a href="https://www.mercomindia.com/adani-green-55-yoy-rise-revenue-q1-fy24" target="_blank" rel="noopener">generated</a> revenue of ₹20.6 billion (~$250.36 million) from the sale of energy in the first quarter of the financial year 2024, a 55% year-over-year increase from ₹13.28 billion (~$165.11 million).</p>
<p>It has a total operational renewable capacity of 8,316 MW, with the addition of 1,750 MW solar-wind hybrid, 212 MW solar, and 554 MW wind power projects over the last year.</p>
<p>Adani New Industries, another wholly-owned subsidiary of Adani Enterprises, recently <a href="https://www.mercomindia.com/adani-394-million-barclays-deutsche-bank-solar-manufacturing" target="_blank" rel="noopener">secured</a> a trade finance facility of $394 million from Barclays and Deutsche Bank to fulfill the working capital needs of their integrated solar module manufacturing facility.</p>
<p>Adani Green <a href="https://www.mercomindia.com/adani-green-billion-via-share-offering" target="_blank" rel="noopener">plans</a> to raise ₹123 billion (~$1.4 billion) through the sale of shares via qualified institutional placement or permissible methods. Adani Green intends to issue a specific number of equity shares, each having a face value of ₹10 (~$0.12), alongside other eligible securities or a combination thereof. The aggregate amount raised will not exceed ₹123 billion (~$1.4 billion) or an equivalent sum.</p>
<p>Adani Green was among the top five utility-scale solar project developers in 2022, according to Mercom’s <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2023-market-shares-and-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 2023</a>. The company had a market share of 11%.</p>


Qatar Investment Authority Acquires Shares Worth ₹39.2 Billion in Adani Green

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