The number of retail investors in the Adani Group firms fell by 1.57% in the June quarter when compared with the January-March period as investors exited with gains after the markets surged. The number of retail shareholders across the group’s 10 listed companies fell by 108,963 to 6.84 million.
The decline was the highest in Adani Power (APL), with the number of retail investors falling by 120,021 to 1.65 million as of June-end, while the number in the group’s flagship firm Adani Enterprises (AEL) was down by 84,857. This was followed by Ambuja Cements (fell by 84,074), Adani Ports and Special Economic Zone, or APSEZ, (73,645) and Adani Green Energy or AGEL (54,186), according to data sourced from the BSE.
On the contrary, the number of retail investors in Adani Total Gas or ATGL went up by 179,961, followed by Adani Transmission or ATL (102,368), Adani Wilmar (12,441), ACC (6,474) and NDTV (6,576).
In the June quarter, the promoters’ holding in most of the group companies–ACC, Adani Power, Adani Total Gas, Adani Wilmar and NDTV–remained unchanged, while it declined by 3.37% in ATL, 1.58% in AEL, 0.99% in AGEL and 0.01% in Ambuja Cements. APSEZ was the only company in which its promoters had increased their stake by 1.86% during the quarter.
In the January-March quarter, the number of retail investors in Adani Group firms had risen by 47.4% to 6.94 million as they rushed in to “buy the dip” following the Hindenburg Research report that shaved off half its market cap. The total retail shareholding in Adani Enterprises had risen to 3.41% as of March-end, compared with 1.86% as of December 31.
The foreign portfolio investors (FPIs) in firms such as AEL (1.59%), Ambuja Cements (1.30%), Adani Green Energy (1.13%), Adani Power (0.25%) and NDTV (0.02%) rose in the April-June quarter, while that in Adani Total Gas (-2.23%), Adani Transmission (-1.40%), Adani Ports (-1%), Adani Wilmar (-0.13%) and ACC (-0.08%) fell.
In June, US investment firm GQG Partners and others bought shares worth Rs 11,000 crore in AEL, AGEL and ATL through block deals, mainly from the Adani Group family firms. Prior to that in March, GQG acquired stakes worth Rs 15,446 crore in four Adani Group companies, and later in May it purchased further shares worth $400-500 million.
While there were no changes in pledged shares of ACC and Ambuja Cements in the June quarter, that in AEL fell by 0.14%, APSEZ 0.64%, Adani Power 0.09%. Two group firms—Adani Green Energy (up 0.34%) and Adani Transmission (up 0.44%)—were the only ones to record a rise in pledges shares. Adani Group had not any pledged shares of Adani Total Gas, Adani Wilmar and NDTV, the data showed.