Adani Enterprises Promoters Increase Stake in Adani Group by 2.02% By Srajan Agarwal - 15 June 2024

Adani Group

The promoters of Adani Enterprises have increased their stake in the company to 73.95%, following a series of acquisitions totaling an additional 2.02% between September 8, 2023, and June 12, 2024. This was revealed in a regulatory filing on Friday.

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

Alongside, the Kempas Trade and Investment Ltd has Acquired 4,825,000 shares (0.42%) between May 10 and 14, 2024.

Also read: Adani Group announces major investments in Telangana across various sectors

And lastly the Emerging Market Investment DMCC Acquired 10,495,000 equity shares (0.92%) between May 21 and June 21, 2024.

Previously, in September 2023, Adani Enterprises had announced that Kempas Trade and Investment Ltd had acquired a 0.61% stake between August 21 and 22, 2023. Additionally, Infinite Trade and Investment Ltd purchased a 1.46% stake between August 30 and September 7, 2023.

Under Indian market regulations, promoters are restricted from acquiring more than a 75% stake in a company. With the recent acquisitions, the promoters of Adani Enterprises are nearing that threshold.

On Friday, Adani Enterprises’ total market capitalisation stood at Rs 3.72 trillion. The Adani Group has been actively expanding its operations across various sectors. On Thursday, Ambuja Cements, part of the Adani Group, announced the acquisition of Hyderabad-based Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs 10,422 crore. This marks the third acquisition of a cement company by the group since its entry into the sector two years ago.

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