Adani Group Stock in Which DIIs Increased Their Stake From 6.84% to 10.62% Amid Potential Demerger Plans
The shares of this large cap company majorly enaged in various kin of business which includes mining, integrated resources management (IRM), infrastructure such as airports, roads, rail/ metro, water and many more were in focus after DII's increased their stake.
With the market capitalization of Rs. 33,264 Crores, the shares of Adani Enterprises Ltd were trading at around Rs. 2375 per share which is 27 percnt discount from its 52 week high of Rs. 3245 per share and is trading at a P/E of 115 whereas industry P/E stands at 86.1
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DIIs Increase Stake in Adani Enterprises
Alongside the potential restructuring plans, Domestic institutional investors increased their stake in Adani Enterprises to 10.62 percent in September 2026, compared with 6.84 percent in september 2025. This represents an increase of 3.84 percentage points during the quarter. Additionally DII's have also increased their stake from 9.34% in the last quarter The change in DII holding comes at a time when the company is exploring ways to unlock value from its established businesses.
Why Is Adani Enterprises Considering Demergers?
Adani Enterprises (AEL) is moving towards demerging businesses that have achieved sufficient scale, stable earnings and operational independence. The company follows an incubation model, under which it develops businesses before separating them into independent entities. Around 80% of AEL’s EBITDA now comes from infrastructure and long-term contracted businesses, compared with 50% three years ago. Management has identified Airports, Roads, Adani New Industries and Mining Services as potential candidates for value unlocking.
Which Adani Businesses Could Be Demerged?
Adani Airports appears to be the closest candidate, with management indicating that it could meet the technical demerger criteria by 2027 during the Q4 FY26 earnings call, subject to board approval. Roads and Mining Services could follow as their earnings and corporate structures become clearer. Adani New Industries is another potential candidate, although further expansion and stabilisation may be required. AdaniConneX and Kutch Copper are likely to remain within AEL for longer, as their operating businesses are still scaling up.
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How Could Demergers Benefit AEL Shareholders?
A demerger could allow investors to hold shares in individual businesses, giving them greater visibility into the financial performance and valuation of each platform. Independent listings could also help businesses attract investors based on their specific earnings profiles and capital requirements. Existing AEL shareholders are expected to receive shares in the demerged entities, subject to the approved scheme. However, the actual value unlocked will depend on the valuation, share-allocation ratio and market response to each listing.
What Should Investors Watch Next?
Adani Airports remains the most immediate potential value-unlocking opportunity, supported by its operating scale, separate financial reporting and management’s stated readiness window. Roads and Mining Services could follow once their earnings and corporate structures are better established, while ANIL may require more time to complete its expansion. Investors should distinguish between management’s stated plans and confirmed demerger announcements. The increase in DII stake to 10.62% adds an important ownership angle, but the potential demergers and their eventual valuation impact remain subject to regulatory and board approvals.
Conclusion:
Adani Enterprises is gradually transitioning from an incubation-focused business into a portfolio of established infrastructure platforms. With Airports emerging as the strongest demerger candidate, followed by Roads, Mining Services and ANIL, the proposed restructuring could create greater visibility into individual business valuations. However, investors should track formal announcements, board approvals and share-allocation details, as the actual value unlocking will depend on execution and market valuations.
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