Adani Enterprises Promoter Entities Raise Stake To 73.95%

Promoter entities of Adani Enterprises Ltd. have increased their shareholding by 2.02% to 73.95% via open market purchases between September and June, the company said on Friday.

Infinite Trade and Investment Ltd., Kempas Trade and Investment Ltd., and Emerging Market Investment DMCC acquired a total of 2.3 crore shares between Sept. 8 and June 12.

Billionaire Gautam 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. acted in concert in this transaction.

Last year, the promoters had raised their equity shareholding by 2.06%.

Adani Enterprises' profit rose 38% in the financial year ending March 2024. The bottom line of the company stood at Rs 3,335.3 crore during fiscal 2024, as compared with Rs 2,421.6 crore registered in the preceding fiscal. Revenue reported was at Rs 96,420.98 crore during the period.

Shares of the Adani Group flagship closed 1.23% higher at Rs 3,263.5 apiece, as compared with a 0.24% advance in the benchmark BSE Sensex.

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