Adani hikes stake in Adani Enterprises and Adani Ports and Special Economic Zone Ltd

Promoter group led by billionaire Gautam Adani has raised its ownership position in two group companies. The company's ownership of flagship Adani Enterprises has gone from 69.87 to 71.93 percent. Additionally, it has raised its ownership of Adani Ports and Special Economic Zone Ltd from 63.06 percent to 65.23 percent.

Market purchases and preferred allotments were used to generate the increases. The Adani Enterprises promoters have upped their ownership stake in the business a second time in less than a month.

The promoters boosted their ownership of Adani Enterprises for the first time on August 7 from 67.65 to 69.87 percent.

The acquisition fits with the larger goal of Adani Enterprise, which is to maintain a strong presence in high-growth industries, and has a portfolio that is internationally varied, spanning industries including energy, logistics, agribusiness, real estate, financial services, and defence.

Within weeks of the US-based boutique investment firm GQG Partners purchasing shares in these companies, the promoters of the Adani group companies increased their shareholding in them.