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Adani shares slip after SEBI settlement over minimum public holding rules
SEBI said the settlement for the alleged minimum public shareholding violations totaled ₹1.48 crore, with most of the group’s listed companies trading lower on Tuesday.
Shares of several Adani Group companies fell on Tuesday, September 29, after India’s Securities and Exchange Board of India settled proceedings tied to alleged violations of minimum public shareholding norms involving four listed group companies and their directors, according to LiveMint Markets.
The settlement followed a resolution between SEBI and Adani Group chairman Gautam Adani, the four group companies, and other individuals, with proceedings settled for a total amount of ₹1.48 crore.
In trading, Adani Power declined 1.3% to ₹193.75, Adani Total Gas fell 1.1% to ₹588.00, Adani Green Energy slipped 1.1% to ₹1,224.00, and Adani Enterprises dropped 0.8% to ₹2,803.55.
Adani Energy Solutions, formerly known as Adani Transmission, was down 0.7% to ₹1,277.45, while Adani Ports and Special Economic Zone gained 0.6%, emerging as the only decliner-free name among the group’s shares covered.