January 31, 2023

Do your mutual funds have investments in battered Adani stocks?

Ever since the Adani saga unfolded, most mutual fund investors have been asking whether their mutual funds or schemes have investments in Adani stocks. After US-based short-seller Hindenburg put out a report questioning the finances of the Adani group, most Adani group companies lost heavily.

ETMutualFunds looked at data and found out that several mutual funds had investments in the Adani Group companies like Adani Enterprise, Adani Green Energy, Adani Ports & Special Economic Zone (SEZ), Adani Power Ltd., Adani Total Gas., Adani Transmission, Adani Wilmar, Ambuja Cement, and ACC Ltd.

Mutual funds had the highest holding of around Rs 8,204.01 in Ambuja Cement, followed by Rs 7,996.16 crore in Adani Ports & Special Economic Zone (SEZ), and Rs 5,097.67 crore in Adani Enterprise.

Company	Market Value (Rs Crore)	No of Shares
Ambuja Cement	8,204.01	156,535,079
Adani Ports and Special Economic Zone Ltd.	7,996.16	97,740,662
Adani Enterprises Ltd.	5,097.67	13,212,030
ACC Ltd.	3,743.86	15,333,652
Adani Total Gas Ltd.	557.07	1,508,510
Adani Transmission Ltd.	394.88	1,525,061
Adani Green Energy Ltd.	374.07	1,936,368
Adani Wilmar Ltd.	14.69	237,799
Adani Power Ltd.	5.53	184,719
Total mutual fund holdings	26,387.94	177,076,469

Source: ACE MF, Data as on December 2022

SBI Mutual Fund had the highest exposure of Rs 6,142 crore in Adani group, followed by UTI Mutual Fund with around Rs 2,333.26 crore exposure. SBI Mutual Fund’s highest exposure was in Adani Enterprises, followed by Adani Ports and Special Economic Zone ( Rs 1816.40 crore).

UTI Mutual Fund had a total exposure of Rs 2,333.26 crore, with around Rs 863.29 crore in Adani Enterprises Ltd. It also had exposure in Adani Ports and Special Economic Zone ( Rs 727.37 crore).

Kotak Mutual Fund had total exposure of Rs 2,329.22 crore in Adani Group companies. It invested around Rs 1,080 crore in Adani Ports and Special Economic Zone, and Rs 661.39 crore in Ambuja Cements.Nippon India Mutual Fund had total exposure of Rs 2095.40 crore. It had exposure in Adani Ports and Special Economic Zone (Rs 689.21 crore), and Ambuja Cements ( Rs 663.20 crore).

ICICI Prudential Mutual Fund had an exposure of Rs 2,091.58 crore. It had investments around Rs 692.68 in Adani Ports and Special Economic Zone. It also had investments in Ambuja Cement (Rs 505.98 crore).

Exposure in Adani group companies
Mutual Fund	Market Value (Rs Crore)	No of Shares
SBI Mutual Fund	6,142.49	47,542,283
UTI Mutual Fund	2,333.26	19,790,082
Kotak Mutual Fund	2,329.22	27,591,979
Nippon India Mutual Fund	2,095.40	23,681,983
ICICI Prudential Mutual Fund	2,091.58	21,369,599
HDFC Mutual Fund	1,589.94	22,150,296
Tata Mutual Fund	1,549.01	17,676,227
Quant Mutual Fund	1,276.16	19,579,686
Axis Mutual Fund	1,122.17	13,187,729
Aditya Birla Sun Life Mutual Fund	912.41	10,027,314
DSP Mutual Fund	835.52	7,515,756
Motilal Oswal Mutual Fund	760.81	13,858,639
Mirae Asset Mutual Fund	694.83	12,559,725
Edelweiss Mutual Fund	354.26	5,447,077
IDFC Mutual Fund	348.76	4,144,989
Franklin Templeton Mutual Fund	334.01	1,387,985
NJ Mutual Fund	318.91	2,182,627
HSBC Mutual Fund	274.10	4,050,881
Mahindra Manulife Mutual Fund	172.61	2,864,850
Baroda BNP Paribas Mutual Fund	172.55	1,639,625
Invesco Mutual Fund	165.53	3,028,003
Sundaram Mutual Fund	123.54	2,057,699

Source: ACE MF, Data as on December 2022

We have included only mutual fund houses with exposure above Rs 100 crore.

SBI Mutual Fund had the highest holding in Adani Ports & Special Economic Zone (SEZ) and Adani Enterprise. SBI Mutual Fund held around Rs 1,816.40 crore in Adani Ports & Special Economic Zone (SEZ). Here are the schemes that had a holding in Adani Ports & Special Economic Zone (SEZ).

Adani Ports & Special Economic Zone (SEZ)
Scheme Name	Market Value (Rs Crore)	No of Shares
SBI Nifty 50 ETF	1,196.60	14,626,562
SBI Arbitrage Opportunities Fund	273.35	3,341,250
SBI Balanced Advantage Fund	198.03	2,420,625
SBI Equity Savings Fund	110.34	1,348,750
SBI Nifty Index Fund	24.46	299,032
SBI Infrastructure Fund	12.27	150,000
SBI Equity Minimum Variance Fund	1.30	15,884
SBI S&P BSE 100 ETF	0.04	520

Source: ACE MF, Data as on December 2022

Adani Enterprise Ltd.
Scheme Name	Market Value (Rs Crore)	No of Shares
SBI Nifty 50 ETF	2,042.27	5,293,113
SBI Balanced Advantage Fund	550.39	1,426,500
SBI Arbitrage Opportunities Fund	125.78	326,000
SBI Nifty Index Fund	41.75	108,214
SBI Equity Savings Fund	14.37	37,250
SBI Equity Minimum Variance Fund	1.46	3,771
SBI S&P BSE 100 ETF	0.07	194

Source: ACE MF, Data as on December 2022

Adani Green Energy: Nippon India Mutual Fund had investments of around Rs 79.33 crore in the company. UTI Mutual Fund had around Rs 77.55 crore in the company. Here are Nippon India schemes that had investments in Adani Green Energy.

Scheme Name	Market Value (Rs Crore)	No of Shares
Nippon India ETF Nifty Next 50 Junior BeES	78.00	403,763
Nippon India ETF Nifty 100	1.33	6,878

Source: ACE MF, Data as on December 2022

Adani Power Ltd. – In Adani Power Ltd., Kotak Mutual Fund had the highest holding of around Rs 3.86 crore which is followed by ICICI Prudential Mutual Fund. ICICI Prudential Mutual Fund had a holding of Rs 1.01 crore as on December 2022 which was reduced from Rs 1.15 crore as on November 2022. The other fund house that had exposure in Adani Power Ltd were Nippon India Mutual Fund, SBI Mutual Fund, and UTI Mutual Fund. Only ICICI Prudential Mutual Fund had prior holding in the company whereas the mutual fund houses mentioned above didn’t had prior exposure.

Scheme Name	Market Value (Rs Crore)	No of Shares
Kotak Nifty Alpha 50 ETF	3.86	128,908

Source: ACE MF, Data as on December 2022

Adani Total Gas Ltd. – Nippon India Mutual Fund had the highest holding in Adani Total Gas Ltd of around Rs 119.65 crore which is followed by UTI Mutual Fund which had holding of around Rs 116.96 crore. ICICI Prudential Mutual Fund was third in the list that had holding of around Rs 112.08 crore.

Scheme Name	Market Value (Rs Crore)	No of Shares
Nippon India ETF Nifty Next 50 Junior BeES	117.65	318,576
Nippon India ETF Nifty 100	2.00	5,427

Source: ACE MF, Data as on December 2022

Adani Transmission Ltd. – Nippon India Mutual Fund had the highest holding of around Rs 86.67 crore in Adani Transmission Ltd followed by UTI Mutual Fund that had holding of around Rs 83.18 crore. ICICI Prudential Mutual Fund was third on the list, which had holding of Rs 80.16 crore.

Scheme Name	Market Value (Rs Crore)	No of Shares
Nippon India ETF Nifty Next 50 Junior BeES	83.66	323,124
Nippon India ETF Nifty India Consumption	1.58	6,096
Nippon India ETF Nifty 100	1.43	5,504

Source: ACE MF, Data as on December 2022

Adani Wilmar Ltd. – Nippon India Mutual Fund had the highest holding of around Rs 6.05 crore followed by Motilal Oswal Mutual Fund which had holding of around Rs 4.96 crore. ICICI Prudential Mutual Fund was third in the list that had holding of around Rs 1.44 crore. The other five fund houses that had holding in Adani Wilmar Ltd was a small corpus.

Scheme Name	Market Value (Rs Crore)	No of Shares
Nippon India ETF Nifty Midcap 150	3.15	51,073
Nippon India Nifty Midcap 150 Index Fund	2.90	46,933

Source: ACE MF, Data as on December 2022

ACC Ltd. – Tata Mutual Fund had the highest holding of around Rs 607.77 crore followed by SBI Mutual Fund which had holding of Rs 603.75 crore. Here’s the schemes of Tata Mutual Fund that had exposure in ACC Ltd. :

Scheme Name	Market Value (Rs Crore)	No of Shares
Tata Equity P/E Fund	170.91	700,000
Tata Balanced Adv Fund	90.29	369,800
Tata Arbitrage Fund	65.80	269,500
Tata Mid Cap Growth Fund	39.07	160,000
Tata Infrastructure Fund	36.14	148,000
Tata Large & Mid Cap Fund	34.18	140,000
Tata Focused Equity Fund	25.57	104,746
Tata Flexi Cap Fund	24.42	100,000
Tata Retirement Sav Fund – Mod Plan	20.75	85,000
Tata Retirement Sav Fund – Prog Plan	19.53	80,000
Tata Dividend Yield Fund	19.38	79,367
Tata Business Cycle Fund	18.31	75,000
Tata Hybrid Equity Fund	17.09	70,000
Tata Multi Asset Opp Fund	12.43	50,900
Tata Resources & Energy Fund	8.55	35,000
Tata Young Citizen Fund	4.15	17,000
Tata Retirement Sav Fund – Cons Plan	0.73	3,000
Tata Equity Savings Fund	0.47	1,920

Source: ACE MF, Data as on December 2022

Ambuja Cements Ltd. – SBI Mutual Fund had the highest holding in Ambuja Cements Ltd of around Rs 789.99 crore followed by HDFC Mutual Fund that had holding of around Rs 740.03 crore.

Scheme Name	Market Value (Rs Crore)	No of Shares
SBI Balanced Advantage Fund	263.58	5,029,200
SBI Arbitrage Opportunities Fund	260.00	4,960,800
SBI Long Term Equity Fund	143.50	2,738,019
SBI Nifty Next 50 ETF	39.64	756,356
SBI Magnum Comma Fund	39.31	750,000
SBI Equity Savings Fund	23.58	450,000
SBI Nifty Next 50 Index Fund	15.38	293,548
SBI Multi Asset Allocation Fund	2.61	49,743
SBI CPO Fund-A-4	0.69	13,225
SBI CPO Fund-A-5	0.51	9,741
SBI CPO Fund-A-3	0.43	8,254
SBI S&P BSE Sensex Next 50 ETF	0.27	5,085
SBI CPO Fund-A-6	0.20	3,883
SBI CPO Fund-A-7	0.15	2,930
SBI CPO Fund-A-8	0.10	1,914
SBI S&P BSE 100 ETF	0.03	520

Source: ACE MF, Data as on December 2022

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