Adani block deals: SBI MF buys ₹5,747 crore stake

What happened in Friday’s Adani block deals

Block deals were reported in Adani Enterprises Limited and Adani Energy Solutions Limited on Friday (June 5), with SBI Mutual Fund emerging as the buyer and US-based GQG Partners selling holdings in both companies. Across the two Adani Group counters, the combined transaction value was reported around ₹5,747 crore, with one reference also pegging the total at ₹5,747.55 crore based on exchange data. Another headline number referenced the day’s block deals at ₹5,718 crore, reflecting minor variations in reported totals. The trades were executed through corresponding block deals, meaning the buyer and seller matched quantities at the same prices. The transactions were disclosed through block deal data on the National Stock Exchange (NSE).

Adani Enterprises deal: stake size, shares, and price

In Adani Enterprises Limited, GQG Partners sold 1.64 crore shares, representing nearly a 1.3% stake, according to block deal data cited in the report. SBI Mutual Fund bought the same 1,64,39,984 shares at an average price of ₹2,913.40 per share. The value of this leg of the transaction was reported in a range, with one figure stated as ₹4,760 crore and another estimate translating the same trade to about ₹4,789 crore. While the exact rupee value differs across references, the share count and average price were consistently cited for the NSE block deal. The Adani Enterprises transaction was the larger of the two trades executed that day.

Adani Energy Solutions deal: 0.5%-0.52% stake changes hands

In Adani Energy Solutions Limited, GQG Partners sold a stake reported as 0.5% in one reference, while another data point described it as 0.52%. SBI Mutual Fund acquired 63,65,796 shares or roughly 63.66 lakh shares through the corresponding deal. The average acquisition price was reported at ₹1,504.8 per share. The transaction value for this leg was cited at around ₹958 crore. Taken together with the Adani Enterprises deal, the combined value was described at about ₹5,747 crore.

Key numbers from the NSE block deal data

The report noted that the shares were picked up in the price range of ₹1,504.80 to ₹2,913.40 apiece, reflecting the two separate counters and their respective block prices. It also stated that Rajiv Jain-backed GQG Partners executed the sales through its affiliate, GQG Partners Emerging Markets Equity Fund. SBI Mutual Fund was identified as the buyer for the full quantity sold in both companies. The trades were executed in the open market via block deals rather than off-market transfers. The participation of a large domestic mutual fund in sizeable Adani counters was a notable feature of the day’s flow.

Summary table: what changed hands

SBI Mutual Fund’s earlier Adani Enterprises purchase

The stake purchase comes after SBI Mutual Fund last month acquired a 0.45% stake in Adani Enterprises for ₹1,435 crore, as stated in the report. That earlier transaction was highlighted to provide context on SBI MF’s recent activity in the flagship Adani Group entity. With the June 5 block deal, SBI MF added a further nearly 1.3% stake via the market route. The report did not provide SBI MF’s post-transaction holding, but it clearly positioned SBI MF as the counterparty to GQG’s trimming in this instance.

GQG’s Adani holdings: what the report says

As of March 2026, the report said GQG Partners held a 10.8% stake in Adani Enterprises and a 1.91% stake in Adani Energy Solutions. It also noted that during Q4FY26, GQG Partners trimmed its stake in Adani Enterprises to 10.80% from 11.7% in Q3. Separately, the report referenced other portfolio changes, stating GQG trimmed its stake in Adani Ports from 3.49% to 2.27% and marginally reduced its holding in Adani Power to 1.53%. These points were presented as part of broader positioning changes around Adani counters.

Why these block deals matter for investors

Large block deals in index-heavy, widely traded stocks can influence near-term liquidity and signal changes in institutional positioning. In this case, the same report framed SBI Mutual Fund as the buyer of the entire quantity sold by GQG Partners in the two counters, which is a clear transfer of exposure from a foreign investor to a domestic institutional investor. The transactions also highlight that selling by a shareholder does not automatically imply broad market selling, especially when it is absorbed in a single matched block. The reported price points give investors a reference for where sizable quantities changed hands, particularly ₹2,913.40 for Adani Enterprises and ₹1,504.8 for Adani Energy Solutions.

Market context mentioned alongside the deals

Alongside the block deals, the report also noted shifts in foreign institutional investor exposure across parts of the Adani Group universe. It stated that foreign institutional investors decreased their exposure in five out of nine Adani stocks: Adani Enterprises, Adani Ports, Adani Total Gas, Ambuja Cements, and NDTV. These references were presented as broader context on ownership trends, distinct from the specific SBI MF-GQG matched block deals executed on June 5.

What to watch next

For investors tracking these names, the next key data points will be subsequent shareholding pattern updates and any disclosures that reflect changes in institutional ownership following these trades. The report already anchors one reference point, March 2026 holdings for GQG Partners, and provides a Q3 to Q4FY26 change for Adani Enterprises. Market participants will also watch whether further large blocks emerge, especially given the report’s note that SBI Mutual Fund had purchased Adani Enterprises shares in the prior month as well.