Adani Transmission stock down over 5 per cent as shares worth Rs 2,633 crore change hands

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About 3 percent of equity Bring me back the transmission Rs 2,633 crore in a block deal was trading in Friday morning deals at Rs 797.85 on the New York Stock Exchange, sending the stock down more than 6 per cent.

The sources said the Al-Mourouj family is the seller and the buyer is likely to be boutique investment firm GQG Partners.

earlier this month, Shareholders approved a proposal to raise funds of Rs 8,500 crore through a qualified institutional placement. On Wednesday, Adani Group Promoter Entities sold small stakes in Adani Enterprises and Adani Green Energy for Rs.5,244 crore. The buyers were Goldman Sachs, the GQG Partners International Opportunities Fund and the Abu Dhabi-based investment firm International Holding Company.

At 11.45 am, shares of Adani Transmission were trading down 5.4 per cent at Rs 775.95 on the NSE Stock Exchange.