Group promoters raise stakes in Adani Enterprises, Green Energy
Adani Group's promoter entities, led by billionaire Gautam Adani, increased their stakes in two listed entities — Adani Enterprises and Adani Green Energy — in May ahead of a proposed fundraising programme for some of its group firms.
According to NSE data, promoter entities bought 72.70 lakh shares of flagship company Adani Enterprises worth ₹2,162 crore and 1.39 crore shares of Adani Green Energy worth ₹2,507 crore in multiple tranches between May 10 and May 23.
Adani Enterprises and Adani Energy Solutions are in the process of finalising their fund raising plans. On Tuesday, the board of Adani Enterprises approved raising ₹16,600 crore through qualified institutional placement (QIP) and other methods. A day earlier, Adani Energy Solutions approved raising ₹12,500 crore through QIP and other methods.
According to NSE data, Adani group entity Emerging Market Investment DMCC bought shares worth ₹764 crore in Adani Enterprises, while Kempas Trade and Investment acquired shares worth ₹1,398 crore in the company. Similarly, Ardour Investment Holding bought shares worth ₹1,599 crore in Adani Green Energy, while another group entity, Adani Tradelines, bought shares worth ₹908 crore.
As on March 31, promoters owned 72.61% in Adani Enterprises and 56.37% in Adani Green.
Last month, the Adani Group increased its stake in Ambuja Cements by 3.6% through conversion of warrants, taking its stake in the company to 70.3%. The group converted the remaining warrants worth ₹8,339 crore.
The Adani family sold shares in several
