Adani Power promoters sell 8.1% stake for $1 billion

Mumbai: Two promoter entities of Adani Power Ltd sold shares worth more than ₹8,710 crore (over $1 billion) to US-based investment firm GQG Partners, its co-investors, and others on Wednesday in block deals. Worldwide Emerging Market Holding Ltd and Afro Asia Trade and Investments Ltd, the two promoter entities, together sold 312 million shares translating to an 8.1% stake. Adani Power, the thermal power generation arm of the Adani Group, closed 2.3% lower at ₹279.30 on the BSE Wednesday.