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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.

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