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This Article is From Sep 09, 2023

Adani Enterprises Promoter Companies Acquire Additional Stake In Flagship

Adani Enterprises Promoter Companies Acquire Additional Stake In Flagship
The Adani Group logo is seen on the facade of one of its buildings.(Source: Amit Dave/Reuters)

Two of Adani Enterprises Ltd.'s promotor owned companies have acquired a total of 2.06% stake in the groups flagship company, from open market.

Kempas Trade and Investment Ltd. and Infinite Trade and Investment Ltd. bought a total of 2.35 crore shares in Adani Enterprises, according to an exchange filing on Friday.

This takes the total promoter stake in the company to 71.93%.

Promoters of Adani Enterprises include Gautam S Adani and Rajesh S Adani (on behalf of SB Adani Family Trust), Adani Tradeline Pvt., Flourishing Trade And Investment Ltd., Worldwide Emerging Market Holding Ltd., Afro Asia Trade and Investments Ltd., Gautam S Adani, Rajesh S Adani (in individual capacities), Gelt Bery Trade And Investment Ltd. and Spitze Trade And Investment Ltd.

The stake was bought between Aug. 21 and Sept. 7, the filing said.

Disclaimer: AMG Media Networks Ltd. currently owns 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.

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