Adani promoters pick up 2.22% in flagship for over ₹6,000 cr
MUMBAI : Kempas Trade and Investment Ltd, a promoter entity of Adani Group’s listed flagship Adani Enterprises Ltd, on Monday, said the entity has bought a 2.22% stake in the company from open market between 7 August and 18 August, according to regulatory filings. The stake purchase could be worth ₹6,348.12 crore according to the volume weighted average price of Adani Enterprises during that period. With latest purchase, Kempas Trade and Investment’s promoter stake in AEL has risen to 69.87% from 67.65%.
The company has a market capitalization of ₹3 trillion. Since March, promoters of Adani Group firms raised ₹37,441 crore via stake dilutions in group firms. This followed a US short-seller Hinde-nburg Research report in January, which made Adani Ent-erprises call off ₹20,000 crore follow-on public offering.
The group denied the allegations made by Hindenburg. Soon after, US-based boutique asset management firm GQG Partners Llc bought significant stakes in several Adani Group firms. 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 a 2.6% in Adani Green for ₹4,135 crore from a promoter entity. Shares of Adani Enterprises ended 2.42% higher at ₹ 2639.75 apiece on the NSE. .
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