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.

Top stories
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read . 02 Aug 2024 . 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read . 02 Aug 2024 . 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read . 02 Aug 2024 . 12:36 PM

Related Blogs
blog-logo

Share Market

blog-logo

9 mins read . 30 Oct 2024

Top Small Finance Bank Stocks in India

  • 0 people read
blog-logo

Insights

blog-logo

10 mins read . 30 Oct 2024

How to do Valuation Analysis of a Company

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions