Promoters of Adani Enterprises, led by Gautam Adani, have strengthened their grip on the company by acquiring additional stakes in recent months. Between September 2023 and June 2024, Adani and group entities purchased shares in Adani Enterprises through open market transactions. Notably, Gautam Adani personally increased his stake by 2%, demonstrating his confidence in the company’s outlook.
The promoter group’s combined holding in Adani Enterprises has consequently climbed to 73.95%. Prior to these acquisitions, they held 71.95% of the total voting capital. The purchases were made through three entities: Infinity Trade and Investment, Kempas Trade and Investment, and Emerging Market Investment DMCC.
The news of these stake increases comes after Adani Group shares experienced a downturn of up to 25% on June 4. However, Adani Enterprises’ stock has since rebounded and has gained 12% so far this year. The company has successfully recovered from losses incurred following the Hindenburg Research report in January 2023.
Adani’s decision to increase his stake in Adani Enterprises is a positive sign for investors, indicating his belief in the company’s long-term prospects. The promoter group’s increased holding also provides stability and reassurance to shareholders.
