Adani promoters acquire 2.22% stake for more than 6,000 crore

According to regulatory filings, Kempas Trade and Investment Ltd, a promoter entity of Adani Group's listed flagship Adani Enterprises Ltd, said on Monday that it had purchased a 2.22% share in the company from the open market between August 7 and August 18.

 

According to the volume-weighted average pricing of Adani Enterprises at that time, the stake acquisition could be worth 6,348.12 crore.

 

The most recent acquisition increased Kempas Trade and Investment's promoter holding in AEL from 67.65% to 69.87%.

 

The corporation is worth $3 trillion on the market.

 

Promoters of Adani Group companies have raised Rs 37,441 crore through stock dilutions since March. In January, a report from US short-seller Hindenburg Research caused Adani Enterprises to call off a follow-on public offering of Rs 20,000 crore.

 

Allegations made by Hindenburg were denied by the group. Afterward, the US-based boutique asset management company GQG Partners Llc purchased significant holdings in a number of Adani Group companies.

 

This includes Adani Enterprises for 5% (Rs 9,600 crore), Adani Power for 8.1% (Rs 8,811 crore), Adani Green for 6.3% (Rs 7,038 crore), Adani Ports for 5.03% (Rs 7,467 crore), and Adani Transmission for 5.5% (Rs 4,525 crore).

 

Source: Media Reports

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