Adani Power has a heavily concentrated shareholding pattern dominated by the promoter group, which maintains approximately 74.96% control. The single largest stakeholder is the S.B. Adani Family Trust, holding nearly 36.86% of the company's equity shares. Other major promoter and institutional entities include Flourishing Trade and Investments Ltd (around 11.46%), Adani Tradeline LLP (roughly 10.34%), Emerging Market Investment DMCC, and prominent foreign portfolio investors like GQG Partners, alongside domestic mutual funds and retail public shareholders.