Adani promoter buys 2.22% in flagship AEL for ₹6,000 crore
₹6,348.12 crore according to the volume weighted average price of Adani Enterprises during the period. With the latest purchase, Kempas Trade and Investment’s total promoter stake in AEL has increased to 69.87% from 67.65% earlier.
The company has a market capitalization of ₹3 trillion. Since March, the promoters of Adani group firms have raised ₹37,441 crore through stake dilutions in various group firms.
This followed a report by US short-seller Hindenburg Research in January, which had compelled Adani Enterprises to call off its ₹20,000-crore follow-on public offering. The group has denied the allegations made by Hindenburg Research.
And, soon after, US-based boutique asset management firm GQG Partners LLC purchased significant stakes in several Adani group firms in quick succession. This included a 5% acquisition in Adani Enterprises for ₹9,600 crore, 8.1% of Adani Power for ₹8,811 crore, 6.3% of Adani Green for ₹7,038 crore, 5.03% in Adani Ports for ₹7,467 crore, and 5.5% in Adani Transmission for ₹4,525 crore.
Recently, Doha-based Qatar Investment Authority purchased 2.6% in Adani Green for ₹4,135 crore from a promoter entity. Shares of Adani Enterprises ended 2.42% higher at ₹2,639.75 apiece on the NSE on Monday.
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