Shares of Adani group companies including Adani Enterprises Ltd, Adani Power Ltd and Adani Green Energy Ltd and climbed up to 2 per cent in Tuesday's trade after the Adani group said it reached a settlement with the US Treasury Department's Office of Foreign Assets Control (OFAC) in an alleged sanctions violation related to Iran-linked LPG transactions. The group would pay a total of $275 million, without admitting the allegations made by OFAC.

Adani Enterprises on Monday said its settlement agreement with OFAC was announced by way of an Enforcement Release dated May 18, 2026. As per the terms, AEL would pay a settlement amount of $275,000,000 to OFAC compared with the maximum statutory penalty of $384,208,088. Adani Enterprises said the reduced penalty was seen as AEL had not received any penalty notice or Finding of Violation from OFAC in the five years preceding the earliest date of the relevant transactions, underlying this settlement. 

The settlement followed an investigation into liquified petroleum gas (LPG) imports made by the company between November 2023 and June 2025. Adani Enterprises said its nascent LPG business accounted for a small share of its overall revenue, contributing less than 1.5 per cent of total consolidated revenue in 2025. The Adani group flagship added that its substantial cooperation with OFAC, along with remedial measures and implementation of additional compliance commitments, resulted in the final settlement.

"This settlement is without admitting the allegations made by OFAC," Adani Enterprises said while suggesting that the settlement agreement was executed on May 14, 2026 and announced by OFAC on May 18, 2026.