15 Apr , 2024 By : Debdeep Gupta
Shares of Adani Enterprises fell nearly 2 percent at open on the NSE after Adani Global, a wholly owned subsidiary, executed a shareholders’ agreement for acquiring a 49 percent stake in Adani Esyasoft Smart Solutions. At 9:20 am, the stock was trading at Rs 3157.30.
In an exchange filing on April 12, Adani Enterprises said that Adani Global Mauritius, which is a wholly-owned subsidiary of the company, has executed a shareholders’ agreement for acquiring a 49 percent stake in Adani Esyasoft Smart Solutions, Abu Dhabi, from Esyasoft Holding, UAE. As a result of the agreement, Adani and Esyasoft Holding will hold 49 percent and 51 percent of Adani Esyasoft Smart Solutions, respectively.
The company is involved in developing smart utility solutions: smart metering software, load forecasting, revenue maximization, etc.
Adani Enterprises is yet to announce the date for its Q4 and full-year earnings. In Q3FY24, Adani reported a net profit of Rs 1,888 crore, a 130 percent YoY increase from the previous fiscal. Revenue from operations for the same period grew 6 percent YoY to Rs 28,336 crore. Shares of Adani Enterprises gained around 71 percent over the last one year.
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