Mutual funds have reduced their stake in eight Adani Group companies, which include Adani Green Energy, Adani Energy Solutions, Adani Enterprises, ACC, Ambuja Cement, Adani Total Gas, Adani Ports and Special Economic Zone, and Sanghi Industries, according to data crunching by ETMutualFunds.
The exposure in Adani Green Energy went down by 16.34% on a monthly basis, taking the total number of shares to 1.37 crore in April against 1.63 crore in March. The exposure in Adani Energy Solutions went down by 11.93%, followed by a drop of 75.38% in Adani Enterprises.
Also Read | Helios Flexi Cap Fund exits Reliance Industries, adds 3 stocks in April
Mutual funds increased the exposure in AWL Agri Business and Adani Power by 2.93% and 2.57%, respectively. Out of 10 group companies where mutual funds had investment, the exposure in eight companies decreased, whereas the exposure in two went up on a monthly basis.
In Adani Total Gas, mutual funds decreased the exposure by 2.14% from 22.29 lakh shares in March to 21.81 lakh shares in April. On a monthly basis, the exposure in Sanghi Industries went down by 26.47%.
The exposure in Ambuja Cements dropped by 2.39% on a monthly basis to 18.74 crore shares in April from 19.20 crore shares in March.
Adani Green Energy
Around 26 mutual funds had exposure in Adani Green Energy, with SBI Mutual Fund having the highest exposure worth Rs 224.19 crore, followed by Kotak Mutual Fund, which had exposure worth Rs 188.10 crore.
In April, mutual funds had around 1.37 crore shares of Adani Green Energy worth Rs 1,234 crore.
Adani Energy Solutions
Around 27 fund houses had exposure in Adani Energy Solutions, with HDFC Mutual Fund having the highest exposure worth Rs 646 crore, followed by Tata Mutual Fund, which had exposure worth Rs 430 crore in April.
SBI Mutual Fund had exposure worth Rs 219 crore in April. Angel One Mutual Fund, the new entrant in the mutual fund industry, had the lowest exposure of Rs 0.089 crore.
In April, mutual funds had around 2.58 crore shares of Adani Energy Solutions worth Rs 2,321 crore.
Adani Enterprises
Around 34 fund houses had exposure in Adani Enterprises, with Quant Mutual Fund having the highest exposure of Rs 1,620 crore, followed by SBI Mutual Fund, which had exposure worth Rs 1,400 crore in April.
ICICI Prudential Mutual Fund had an exposure of Rs 623 crore in Adani Enterprises.
In April, mutual funds had around 2.71 crore shares of Adani Enterprises worth Rs 6,257 crore.
Also Read | MF Tracker: Can this smallcap mutual fund add value to your portfolio?
Adani Power
Around 22 fund houses had exposure in Adani Power, with Quant Mutual Fund having the highest exposure of Rs 2,725 crore, followed by ICICI Prudential Mutual Fund, which had exposure of Rs 162 crore in this stock.
In April, mutual funds had around 6.51 crore shares of Adani Power worth Rs 3,464 crore.
Adani Total Gas
Around 19 fund houses had exposure in Adani Total Gas, with SBI Mutual Fund having the highest exposure worth Rs 37.73 crore, followed by Mirae Asset Mutual Fund, which had exposure of Rs 26.85 crore.
In April, mutual funds had around 21.81 lakh shares of Adani Total Gas worth Rs 130 crore.
Adani Ports and Special Economic Zone
Around 36 fund houses had exposure in Adani Ports and Special Economic Zone worth Rs 13,195 crore with 10.84 crore shares. SBI Mutual Fund had the highest exposure of Rs 4,766 crore, followed by ICICI Prudential Mutual Fund, which had exposure of Rs 1,838 crore.
ACC
Around 28 mutual funds had exposure in ACC worth Rs 4,874 crore. HDFC Mutual Fund had the highest exposure of Rs 1,166 crore, followed by ICICI Prudential Mutual Fund, which had exposure of Rs 983 crore.
In April, mutual funds had 2.58 crore shares of ACC in their portfolios.
Ambuja Cements
Around 34 fund houses had exposure in Ambuja Cements with 18.74 crore shares worth Rs 10,118 crore. ICICI Prudential Mutual Fund had the highest exposure of Rs 2,704 crore, followed by HDFC Mutual Fund, which had exposure of Rs 1,496 crore.
AWL Agri Business
Around 20 fund houses had exposure worth Rs 3,030 crore. ICICI Prudential Mutual Fund had the highest exposure of Rs 851 crore, followed by Mirae Mutual Fund, which had exposure worth Rs 768 crore.
Kotak Mutual Fund had the lowest exposure in AWL Agri Business worth Rs 0.01 crore.
Sanghi Industries
Only Taurus Mutual Fund had exposure in Sanghi Industries worth Rs 2.28 crore. It had around 3.77 lakh shares in the portfolio in April.
According to mutual funds, since some of these stocks are part of indices, index schemes, and ETFs will have exposure to them. Note, mutual funds report their portfolios for the previous month; the latest data available is for April 2025.
Also Read | Mutual funds use inflows to stuff another Rs 17,300 crore in their cash bag
Earlier this month, the stocks of Adani Group went up after representatives of billionaire Gautam Adani and his companies reportedly met officials from US President Donald Trump’s administration to seek dismissal of criminal charges in a bribery probe, Bloomberg News reported, citing sources.
According to Bloomberg, the discussions, which began earlier this year, have gained momentum in recent weeks and could lead to a resolution in the coming month if progress continues. Adani’s team is reportedly arguing that the prosecution does not align with Trump administration priorities and should be reconsidered.
In November, US authorities indicted Adani and his nephew, Sagar Adani, alleging that they paid bribes to secure Indian power supply contracts and misled U.S. investors during fund raises. The SEC summoned Adani and his nephew, alleging they paid millions in bribes to Indian officials while misrepresenting antibribery compliance during a $750 million Adani Green Energy bond offering.
Previously, the US Securities and Exchange Commission (SEC) had requested assistance from India's Ministry of Law and Justice in its investigation of Gautam Adani and his nephew Sagar Adani over alleged securities fraud and a $265 million bribery scheme, reported Reuters, citing a court filing.
Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy, a subsidiary of his Adani Group conglomerate, and then misleading U.S. investors by providing reassuring information about the company's anti-corruption practices.
The exposure in Adani Green Energy went down by 16.34% on a monthly basis, taking the total number of shares to 1.37 crore in April against 1.63 crore in March. The exposure in Adani Energy Solutions went down by 11.93%, followed by a drop of 75.38% in Adani Enterprises.
Also Read | Helios Flexi Cap Fund exits Reliance Industries, adds 3 stocks in April
Mutual funds increased the exposure in AWL Agri Business and Adani Power by 2.93% and 2.57%, respectively. Out of 10 group companies where mutual funds had investment, the exposure in eight companies decreased, whereas the exposure in two went up on a monthly basis.
In Adani Total Gas, mutual funds decreased the exposure by 2.14% from 22.29 lakh shares in March to 21.81 lakh shares in April. On a monthly basis, the exposure in Sanghi Industries went down by 26.47%.
The exposure in Ambuja Cements dropped by 2.39% on a monthly basis to 18.74 crore shares in April from 19.20 crore shares in March.
Adani Green Energy
Around 26 mutual funds had exposure in Adani Green Energy, with SBI Mutual Fund having the highest exposure worth Rs 224.19 crore, followed by Kotak Mutual Fund, which had exposure worth Rs 188.10 crore.
In April, mutual funds had around 1.37 crore shares of Adani Green Energy worth Rs 1,234 crore.
Adani Energy Solutions
Around 27 fund houses had exposure in Adani Energy Solutions, with HDFC Mutual Fund having the highest exposure worth Rs 646 crore, followed by Tata Mutual Fund, which had exposure worth Rs 430 crore in April.
SBI Mutual Fund had exposure worth Rs 219 crore in April. Angel One Mutual Fund, the new entrant in the mutual fund industry, had the lowest exposure of Rs 0.089 crore.
In April, mutual funds had around 2.58 crore shares of Adani Energy Solutions worth Rs 2,321 crore.
Adani Enterprises
Around 34 fund houses had exposure in Adani Enterprises, with Quant Mutual Fund having the highest exposure of Rs 1,620 crore, followed by SBI Mutual Fund, which had exposure worth Rs 1,400 crore in April.
ICICI Prudential Mutual Fund had an exposure of Rs 623 crore in Adani Enterprises.
In April, mutual funds had around 2.71 crore shares of Adani Enterprises worth Rs 6,257 crore.
Also Read | MF Tracker: Can this smallcap mutual fund add value to your portfolio?
Adani Power
Around 22 fund houses had exposure in Adani Power, with Quant Mutual Fund having the highest exposure of Rs 2,725 crore, followed by ICICI Prudential Mutual Fund, which had exposure of Rs 162 crore in this stock.
In April, mutual funds had around 6.51 crore shares of Adani Power worth Rs 3,464 crore.
Adani Total Gas
Around 19 fund houses had exposure in Adani Total Gas, with SBI Mutual Fund having the highest exposure worth Rs 37.73 crore, followed by Mirae Asset Mutual Fund, which had exposure of Rs 26.85 crore.
In April, mutual funds had around 21.81 lakh shares of Adani Total Gas worth Rs 130 crore.
Adani Ports and Special Economic Zone
Around 36 fund houses had exposure in Adani Ports and Special Economic Zone worth Rs 13,195 crore with 10.84 crore shares. SBI Mutual Fund had the highest exposure of Rs 4,766 crore, followed by ICICI Prudential Mutual Fund, which had exposure of Rs 1,838 crore.
ACC
Around 28 mutual funds had exposure in ACC worth Rs 4,874 crore. HDFC Mutual Fund had the highest exposure of Rs 1,166 crore, followed by ICICI Prudential Mutual Fund, which had exposure of Rs 983 crore.
In April, mutual funds had 2.58 crore shares of ACC in their portfolios.
Ambuja Cements
Around 34 fund houses had exposure in Ambuja Cements with 18.74 crore shares worth Rs 10,118 crore. ICICI Prudential Mutual Fund had the highest exposure of Rs 2,704 crore, followed by HDFC Mutual Fund, which had exposure of Rs 1,496 crore.
AWL Agri Business
Around 20 fund houses had exposure worth Rs 3,030 crore. ICICI Prudential Mutual Fund had the highest exposure of Rs 851 crore, followed by Mirae Mutual Fund, which had exposure worth Rs 768 crore.
Kotak Mutual Fund had the lowest exposure in AWL Agri Business worth Rs 0.01 crore.
Sanghi Industries
Only Taurus Mutual Fund had exposure in Sanghi Industries worth Rs 2.28 crore. It had around 3.77 lakh shares in the portfolio in April.
According to mutual funds, since some of these stocks are part of indices, index schemes, and ETFs will have exposure to them. Note, mutual funds report their portfolios for the previous month; the latest data available is for April 2025.
Also Read | Mutual funds use inflows to stuff another Rs 17,300 crore in their cash bag
Earlier this month, the stocks of Adani Group went up after representatives of billionaire Gautam Adani and his companies reportedly met officials from US President Donald Trump’s administration to seek dismissal of criminal charges in a bribery probe, Bloomberg News reported, citing sources.
According to Bloomberg, the discussions, which began earlier this year, have gained momentum in recent weeks and could lead to a resolution in the coming month if progress continues. Adani’s team is reportedly arguing that the prosecution does not align with Trump administration priorities and should be reconsidered.
In November, US authorities indicted Adani and his nephew, Sagar Adani, alleging that they paid bribes to secure Indian power supply contracts and misled U.S. investors during fund raises. The SEC summoned Adani and his nephew, alleging they paid millions in bribes to Indian officials while misrepresenting antibribery compliance during a $750 million Adani Green Energy bond offering.
Previously, the US Securities and Exchange Commission (SEC) had requested assistance from India's Ministry of Law and Justice in its investigation of Gautam Adani and his nephew Sagar Adani over alleged securities fraud and a $265 million bribery scheme, reported Reuters, citing a court filing.
Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy, a subsidiary of his Adani Group conglomerate, and then misleading U.S. investors by providing reassuring information about the company's anti-corruption practices.
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