Promoters increase stake in Adani Enterprises by 2.20%

22 Aug 2023 , 08:18 PM

According to sources, the Adani Group’s promoters boosted their interest in the conglomerate’s flagship company by 2.22% through open market transactions.

Between August 7 and August 18, Kempas Trade and Investment, a promoter group business, purchased 2.53 crore shares of Adani Enterprises, increasing the promoters’ overall interest in the company to 69.87%. According to the stock’s closing price on Monday, the purchased share is worth Rs 6,675 crore. Adani Enterprises closed at Rs 2,694.90 per share on the NSE on Tuesday, up 2.09%.

The promoters owned 67.65% of Adani Enterprises at the end of the June quarter, with the remaining shares owned by public shareholders, including the US-based investor firm GQG Partners, which owns 2.67%.

GQG Partners invested roughly Rs 8,265 crore in Adani Enterprises and Adani Green Energy in June. They infused over Rs 15,000 crore in Adani equities and acquired holdings in four Adani companies, including Adani Enterprises, in March.

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