Shares of several Adani Group companies saw gains in Tuesday's trading, with Adani Enterprises Ltd (AEL), Adani Power Ltd, and Adani Green Energy Ltd rising up to 2%. The positive market reaction follows the group's announcement of a settlement with the US Treasury Department's Office of Foreign Assets Control (OFAC) regarding alleged sanctions violations related to Iran-linked liquified petroleum gas (LPG) transactions.
The Adani Group agreed to pay a total of $275 million to OFAC, without admitting to the allegations. The settlement, executed on May 14, 2026, and announced by OFAC on May 18, 2026, resolves an investigation into LPG imports conducted by AEL between November 2023 and June 2025.
Details of the Settlement and Market Impact
Following the news, Adani Enterprises Ltd opened 2.2% higher at Rs 2,749.95 on the BSE. Adani Power Ltd also saw a 2.08% increase, reaching Rs 223.80, while Adani Green Energy Ltd advanced 1.86% to Rs 1,393.80. Other group entities like Adani Energy Solutions Ltd gained 1.08%, and Adani Ports and Special Economic Zone Ltd was up by half a percent. ACC and Ambuja Cements also rose by up to 1%.
Adani Enterprises confirmed that the $275 million settlement amount was significantly lower than the maximum statutory penalty of $384,208,088. This reduction was attributed to AEL not having received any penalty notice or finding of violation from OFAC in the five years preceding the earliest date of the relevant transactions. The company emphasized its substantial cooperation with OFAC, along with remedial measures and the implementation of additional compliance commitments, contributed to the final agreement.
Adani's LPG Business and Compliance
AEL clarified that its nascent LPG business accounted for a small share of its overall revenue, contributing less than 1.5% of total consolidated revenue in 2025. The group has consistently maintained that the settlement does not constitute an admission of the allegations made by OFAC. This development comes shortly after Adani Green Energy informed exchanges about a request for entry of final judgment filed by the United Securities and Exchange Commission (SEC) in a November 2024 civil complaint involving Gautam Adani and Sagar Adani.