November 03, 2024 01:47 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Andhra Pradesh: Three-year-old girl raped and murdered by relative in Tirupati | Two terrorists killed in encounter with security forces in Kashmir's Anantnag | Bengal: 5-year-old girl raped and murdered in Alipurduar, accused beaten to death by angry villagers | Kashmir: Encounter breaks out between security forces and terrorists in Srinagar | Mumbai Police initiates extradition process to bring back Lawrence Bishnoi's brother Anmol Bishnoi from US
Adani Enterprises promoters raise stake to 73.95% in the company
Photo courtesy: File image/UNI

Adani Enterprises promoters raise stake to 73.95% in the company

| @indiablooms | 14 Jun 2024, 09:04 pm

Mumbai: Gautam Adani and the promoter group of Adani Enterprises have acquired over two percent of the company's stake from the open market between September 2023 and June 2024, as reported in a stock exchange filing on June 14.

The purchases were made on the following dates by different promoter group entities:

Infinite Trade and Investment Ltd: Acquired 7,703,200 equity shares (0.68 percent) between September 8 and 12, 2023.

Kempas Trade and Investment Ltd: Acquired 4,825,000 shares (0.42 percent) between May 10 and 14, 2024.

Emerging Market Investment DMCC: Acquired 10,495,000 equity shares (0.92 percent) between May 21 and June 21, 2024.

Before these acquisitions, the total voting capital held by the acquirers, the promoter group, and persons acting in concert was 71.95 percent. This increased by 2.02 percent, bringing their total to 73.95 percent.

Shares of Adani Group experienced a 25 percent drop on June 4 after significant gains in the previous trading sessions.

However, shares of Adani Enterprises have increased by 12 percent so far this year.

By May 2024, the company had recovered all the losses incurred due to the short-seller report by Hindenburg Research, which was released in January 2023.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.