INQ Holding Llc, a wholly-owned subsidiary of Qatar Investment Authority, has acquired 4.3 crore shares of Adani Green Energy or 2.7 per cent of its equity at ₹920 each for a total amount of ₹3,956 crore.

Bulk deals data on the BSE showed that Infinite Trade and Investment, a promoter entity of Adani Green, sold 4.5 crore shares or 2.8 per cent of its equity at ₹920.43, for a total amount of ₹4,142 crore.

Qatar Investment Authority had picked up a 25 per cent in Adani Electricity Mumbai in 2020 and this is the second investment by the fund in the group.

Promoter entities of the Adani group have been selling mall chunks of stakes in group companies to pay down share-backed financing. Earlier GQG Partners had also picked up stakes at various times in the companies, some of them from promoters. In March promoter Gautam Adani had told investors that over $2 billion worth of margin-linked, share-backed loans have been paid off.

Last month Adani Green’s board approved raising Rs 12,300 crore through a qualified institutional placement. This is expected to be launched later this year once the market volatility settles down.