Shares of several Adani Group companies, including Adani Green Energy Ltd, Adani Power Ltd, Adani Enterprises Ltd (AEL), and Adani Energy Solutions Ltd, experienced declines of up to 5% in Friday's trading session. The downturn comes after reports that Gautam Adani and Sagar Adani consented to a final judgment in a civil case in the United States, agreeing to pay significant civil penalties.
US Civil Case and Penalties
The core of the market reaction stems from the consent provided by Gautam Adani and Sagar Adani to a final judgment in a US civil case. This agreement, made without admitting or denying the allegations outlined in the civil complaint, includes the payment of civil penalties totaling $18 million. Gautam Adani is set to pay $6 million, while Sagar Adani will pay $12 million.
This civil complaint, numbered 24-CV-08080, was filed by the US SEC before the United States District Court for the Eastern District of New York against Mr. Gautam S. Adani and Mr. Sagar R. Adani. Adani Green Energy Ltd has clarified that it is not a party to these US proceedings, and no charges have been brought against the company itself.
Market Performance and Recent Trends
The decline in Adani Group stocks follows a period of sharp rally for many of these shares over the past month. For instance, Adani Power Ltd initially fell 4.72% to Rs 213.95, despite having gained 18.46% in the preceding month. Adani Green Energy Ltd saw a 2.28% drop to Rs 1,382 before recovering slightly. AEL was down 1.05% at Rs 2,684.50, having risen over 25% in the last month.
As the trading session progressed, many of the initially falling Adani stocks showed signs of recovery. Adani Energy Solutions Ltd also registered a decline of 1.37% to Rs 1,301. In related market activity, GQG Partners Emerging Markets Equity Fund reportedly sold 58.92 lakh shares of Adani Enterprises, with SBI Mutual Fund emerging as a buyer.
Promoter Holdings and Prior Communications
As of March 31, promoters held a 62.43% stake in Adani Green Energy, totaling 1,02,83,96,636 shares. The Adani group has previously issued several intimations and clarifications regarding the US proceedings, with updates dating back to November 2024 and continuing through January and April 2026, referencing both a criminal indictment by the US DOJ and the civil complaint by the US SEC.