29 May , 2024 By : Debdeep Gupta
Adani Group, led by Gautam Adani, boosted stakes in Adani Enterprises and Adani Green Energy in May before a planned fundraising.
Promoter entities purchased 72.70 lakh shares of Adani Enterprises, valued at Rs 2,162 crore, and 1.39 crore shares of Adani Green Energy, valued at Rs 2,507 crore, in multiple transactions between May 10 and May 23, as per NSE data.
As per NSE data, Emerging Market Investment DMCC of the Adani Group purchased Adani Enterprises shares worth Rs 764 crore, and Kempas Trade and Investment acquired shares worth Rs 1,398 crore. Similarly, Ardour Investment Holding bought Adani Green Energy shares worth Rs 1,599 crore, while Adani Tradelines acquired shares worth Rs 908 crore. As of March 31, promoters held 72.61 percent of Adani Enterprises and 56.37 percent of Adani Green.
On May 28, Adani Enterprises announced its plans to raise Rs 16,600 crore and on May 27, Adani Energy Solutions said its board approved fundraising up to Rs 12,500 crore through QIP and other modes.
Adani Group companies aim to attract international investors to fuel India's infrastructure growth and diversify their shareholder base. This move involves potential equity dilution, despite previous setbacks, with stocks rebounding to pre-Hindenburg Research report levels from January 2023.
Adani Group companies aim to attract international investors to fuel India's infrastructure growth and diversify their shareholder base. This move involves potential equity dilution, despite previous setbacks, with stocks rebounding to pre-Hindenburg Research report levels from January 2023.
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