Adani hikes stake in 2 group firms
Promoter group raised holding in Adani Enterprises to 71.93% from 69.87%, while increasing stake in APSEZ rose to 65.23% from 63.06%
Adani Group
New Delhi: Billionaire Gautam Adani-led promoter group has increased stake in two of the group’s listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit by damaging reports.
The promoter group has increased stake in flagship Adani Enterprises to 71.93 per cent from 69.87 per cent, according to stock exchange filings. This is the second time in less than a month that the promoters have raised stake in the flagship firm that incubates new businesses. The promoters had last month increased stake in Adani Enterprises Ltd from 67.65 per cent to 69.87 per cent.
The promoter group has also increased stake in Adani Ports and Special Economic Zone Ltd (APSEZ) from 63.06 per cent to 65.23 per cent, the filings showed. Resurgent Trade and Investment Ltd bought almost one per cent stake in Adani Ports and Special Economic Zone Ltd in open market transactions and another 1.2 per cent was purchased by Emerging Market Investment DMCC.
Both are promoter group firms. In the case of Adani Enterprises Ltd, the shares were bought by Kempas Trade and Investment Ltd and Infinite Trade and Investment Ltd.
