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A unit of <keyword id="6437412" type="General" weightage="20" keywordseo="Qatar-Investment-Authority" source="Orion">Qatar Investment Authority</keyword>, <keyword id="119583" type="General" weightage="20" keywordseo="SBI-Mutual-Fund" source="Orion">SBI Mutual Fund</keyword>, and foreign investment funds <keyword id="6354527" type="General" weightage="20" keywordseo="Nomura" source="Orion">Nomura</keyword> and <keyword id="44473" type="General" weightage="20" keywordseo="Citigroup" source="Orion">Citigroup</keyword> were the biggest buyers of shares in <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="267" meta.entityid="Adani Group">Adani group</keyword>'s <keyword id="22661797" type="General" weightage="20" keywordseo="power-transmission-unit" source="Orion">power transmission unit</keyword>'s USD <keyword id="22661798" type="General" weightage="20" keywordseo="1-billion-QIP" source="Orion">1 billion QIP</keyword>, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of <keyword id="19964750" type="General" weightage="20" keywordseo="Adani-Energy-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Energy Solutions" meta.hostid="267" meta.entityid="Adani Energy Solutions">Adani Energy Solutions</keyword> Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire <keyword id="22623487" type="General" weightage="20" keywordseo="Stanley-Druckenmiller" source="keywords">Stanley Druckenmiller</keyword>'s family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold. Two Mauritius funds of Citigroup bought 8.88 per cent of the shares sold while four SBI funds - SBI Infrastructure Fund, SBI Large &amp; Midcap Fund, SBI Long term Advantage Fund Series IV and SBI Magnum Children's Benefit Fund - together took home 7.93 per cent of the shares. Nomura Singapore Ltd ODI cornered 7.5 per cent of the shares, the filing showed. INQ had in August last year acquired nearly 2.7 per cent in Adani Green Energy Ltd - the renewable energy firm of the conglomerate run by billionaire Gautam Adani. In 2020, it had acquired a stake in Adani Electricity Mumbai Ltd, a subsidiary of AESL. The AESL QIP last week was oversubscribed six times and fetched demand of over Rs 50,000 crore against an issue size of USD 1 billion. <keyword id="22636516" type="General" weightage="20" keywordseo="Duquesne-Family-Office" source="keywords" meta.keywordsubtype="org" meta.entityname="Duquesne Family Office" meta.hostid="267" meta.entityid="Duquesne Family Office">Duquesne Family Office</keyword> and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - bought shares but AESL did not disclose the exact number of shares they bought since these were less than 5 per cent of the issue size, sources said. The QIP issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies with high governance and are known for staying invested for decades. The QIP was the first public equity raise by the conglomerate since a damning Hindenburg report last year wiped away billions in shareholder value. The demand generated made the AESL QIP the largest in the energy space. Duquesne was founded by billionaire Stanley Druckenmiller, who along with George Soros in 1992 broke the Bank of England by shorting the British pound, leading to its crash and earnings over a billion dollars. Adani Group has a history of introducing several long-only investors in the market. In the past years, it has brought large investors including GQG Partners and International Holding Company (IHC) besides QIA. Other major global names that participated in the QIP include Blackrock, Jupiter Asset Management, and Eastspring. Domestic mutual funds that have participated included HDFC Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, LIC, WhiteOak, 360One among others. Insurance companies including SBI Insurance, SBI Pension and ASK Asset Management have also participated, according to sources. QIP is an instrument used by listed companies to raise funds from large institutions. The fundraise is the first after Adani group's flagship firm scrapped a Rs 20,000 crore issue in February last year, following the Hindenburg report alleging accounting fraud and stock manipulation. Though the group vehemently and repeatedly denied all allegations, listed companies of the conglomerate at one point saw over USD 150 billion of their market value being wiped out. While the group has largely recovered, a successful QIP is being seen as a powerful vote of investor confidence in the tycoon. Separately, Adani Enterprises Ltd, the flagship firm of the group, is looking to revive its first-ever public sale of bonds. It plans to raise as much as Rs 600 crore. The company has hired Trust Investment Advisors, AK Capital Services and Nuvama Wealth Management as lead managers for the issuances. The group had tapped the dollar bond market in March this year - the first time since the Hindenburg report - when its solar energy unit Adani Green Energy Ltd and associated firms got bids of about USD 2.9 billion.

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

Amaravati, June 22 (IANS) In a boost to the green energy sector in Andhra Pradesh, Chief Minister Y.S. Jagan Mohan Reddy has cleared pump storage projects proposed by <keyword id="3179546" type="General" weightage="100" keywordseo="Adani-green-energy" source="Orion">Adani Green Energy</keyword> with a total capacity of 3,700 MW. The project was cleared in the State Investment Promotion Board (SIPB) review meeting on Wednesday. Chief Minister Jagan Mohan Reddy has cleared the proposal of investment of Rs 15,740 crore which is a part of the proposed total investment of Rs 60,000 crore by <keyword id="76451" type="General" weightage="20" keywordseo="adani" source="Orion">Adani</keyword> Group in the state of Andhra Pradesh that was discussed during the World Economic Forum meet at Davos recently. The project will generate 10,000 jobs across four districts of Andhra Pradesh. Adani Group has proposed pump storage projects in four districts of the state - two plants to be set up in Parvathi Puram, one in YSR Kadapa, and one in Satya Sai district. In Parvathi Puram, a 1200 MW capacity plant will be set up in Kurukutti, and a 1000 MW plant in Karrivalasa. Meanwhile, a 1000 MW plant will be set up in Gandikota while 500 MW plant in Chitravathi. In each of these districts, Adani Group has proposed that they will be generating 3,000 jobs in Kurukutti, 3000 in Karrivalasa, 1500 in Chitravathi and 2500 in Gandikota. The project is stipulated to commence in December 2022 and is likely to commission in December 2028. While the plants will be set up spanning across 1,490 acres of land, the state government has decided that the land will be leased from farmers at the cost of Rs 30,000 per acre in these districts, which will be transferred to the farmers directly. Meanwhile, the state will be generating a revenue of Rs 2,775 crore from the project in terms of the power stored and an additional Rs 980 crore from the SGST. "This will give a big boost to the state in terms of investment and a positive message as the employment rate continues to rise in the state," Andhra Pradesh CM YS Jagan Mohan Reddy said in the meeting. In other decisions taken in the SIPB meeting, the government has decided to apply for the PM MITRA scheme, which proposes to set up an integrated textile park in YSR Jagananna Mega Industrial Hub at Kopparthy in YSR District. The government, as per the conditions laid down under the scheme, has proposed that they would be fixing the power cost at Rs 4.5 per unit and Rs 60 per TMC of water for the 10-year period of the project. The SIPB has also cleared the setting up of a shrimp processing unit at the food park in Krishna district by Avisa Foods Private Limited. The project would generate 2,500 jobs in 12 months and the company has requested for 11.64 acres of land from the state government of Andhra Pradesh. The SIPB has decided to lease the 11.64 acres at the cost of Rs 1,027 per sqm. The government has also laid out condition that the effluent treatment plant (ETP) would be set up by the company.

Adani green energy projects worth Rs 15,740 cr cleared by AP Govt.

<keyword id="4543956" type="PERSON" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword> (AGEL) on Saturday announced that it has signed a share purchase agreement for acquisition of 100 per cent stake in an SPV holding 50 MW operating solar project of the Toronto-headquartered SkyPower Global. The project is located in Telangana and was commissioned in October 2017 and has a long-term <keyword id="511035" type="COMPANY" weightage="20" keywordseo="power-purchase-agreement">Power Purchase Agreement</keyword> (PPA) with the Southern Power Distribution Company in the state. With this acquisition, AGEL shall increase its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW. The closing of the transaction is subject to customary approvals and conditions. Vneet S. Jaain, MD &amp; CEO, <keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword>, said: "Strengthening our portfolio through organic and inorganic growth opportunities is in integral part of the our vision to build a capacity of 25 GW by 2025 and become the largest renewables company in the world. We will leverage the strength of our platform and capital management philosophy to achieve operational improvements and value-accretive returns from the project." <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Green Energy Limited (AGEL) is part of <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, and has one of the largest global renewable portfolios with 14.9 GW of operating, under-construction and awarded projects catering to investment-grade counterparties. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/easemytrip-ipo-listing-price-at-13-5-premium/articleshow/81581828.cms">EaseMyTrip lists at 13.5% premium – but gives up some of the listing gains soon after</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-specs-oneplus-9e-specs-and-price-leak-and-oneplus-9-series-launch-date/articleshow/81168227.cms">OnePlus 9 series specifications and features leaked – here's everything we know about the upcoming OnePlus smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-review-of-moto-g10-power-mobile-phone-review-and-features-information/articleshow/81583548.cms">Moto G10 Power mobile review – big battery on a shoestring budget</a> <a href="https://www.businessinsider.in/stock-market/news/future-retail-shares-take-a-massive-hit-as-it-loses-the-case-against-amazon-in-delhi-high-court/articleshow/81583165.cms">Future Retail shares take a massive hit as it loses the case against Amazon in Delhi High Court</a>

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Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

PTI

Adani green energy projects worth Rs 15,740 cr cleared by AP Govt.

IANS

Adani Green Energy to acquire 50 MW Solar Asset from SkyPower Global

IANS

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