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MUMBAI :Kempas Trade and Investment Ltd, a promoter entity of Adani Group’s listed flagship Adani Enterprises Ltd, on Monday, said the entity has bought a 2.22% stake in the company from open market between 7 August and 18 August, according to regulatory filings.
\n \n \n \nThe stake purchase could be worth ₹6,348.12 crore according to the volume weighted average price of Adani Enterprises during that period.
\n \n \nWith latest purchase, Kempas Trade and Investment’s promoter stake in AEL has risen to 69.87% from 67.65%.
\n \n \n \nThe company has a market capitalization of ₹3 trillion.
\n \n \nSince March, promoters of Adani Group firms raised ₹37,441 crore via stake dilutions in group firms. This followed a US short-seller Hinde-nburg Research report in January, which made Adani Ent-erprises call off ₹20,000 crore follow-on public offering.
\n \n \nThe group denied the allegations made by Hindenburg. Soon after, US-based boutique asset management firm GQG Partners Llc bought significant stakes in several Adani Group firms.
\n \n \n \nThis included a 5% acquisition in Adani Enterprises for ₹9,600 crore, 8.1% of Adani Power for ₹8,811 crore, 6.3% of Adani Green for ₹7,038 crore, 5.03% in Adani Ports for ₹7,467 crore, and 5.5% in Adani Transmission for ₹4,525 crore.
\n \n \nRecently, Doha-based Qatar Investment Authority purchased a 2.6% in Adani Green for ₹4,135 crore from a promoter entity. Shares of Adani Enterprises ended 2.42% higher at ₹ 2639.75 apiece on the NSE.
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