Adani Firms Settle SEBI Public-Float Case

India’s markets regulator Securities and Exchange Board of India (SEBI) has disposed of proceedings against Adani Group Chairman Gautam Adani and four group companies in a case concerning alleged non-compliance with the minimum public shareholding requirement.

The settlement relates to the requirement that listed companies maintain at least 25% public shareholding. The four companies covered by the order are Adani Enterprises, Adani Power, Adani Ports and Special Economic Zone, and Adani Energy Solutions, formerly known as Adani Transmission.

According to reports, Gautam Adani, Rajesh Adani and other individuals were also part of the settlement proceedings. The parties paid a combined ₹1.48 crore under SEBI’s settlement framework, following settlement terms approved earlier this year.

SEBI’s settlement order means the proceedings covered by the order have been disposed of following payment of the settlement amount. The case concerned alleged violations of minimum public shareholding requirements rather than a new finding announced through the settlement itself.

The development follows other SEBI proceedings involving Adani Group companies this month. On September 22, four group companies separately settled proceedings concerning alleged disclosure-related violations, with a combined payment of ₹1.51 crore.

SEBI’s latest order was listed on September 28 under its settlement orders as the “Settlement order in the matter of Adani group companies.”