The promoters of the Adani Enterprises acquired 2.06 per cent additional stake in the firm between August 21 and September 7, taking their holding to 71.93 per cent, the company said in a regulatory filing on Saturday.
A 0.61 per cent stake was acquired by Kempas Trade and Investment Ltd between August 21 and August 22. Another 1.46 per cent stake was bought by Infinite Trade and Investment Ltd between August 30 and September 7.
Both the companies have been identified as the promoters by the Adani conglomerate.
This comes three weeks after the company declared the promoter holding at 69.87 per cent in its flagship firm. Between August 7 and August 18, Kempas Trade and Investment acquired a 2.22 per cent stake in the company.
According to Indian market rules, promoters cannot acquire more than a 75 per cent stake in a company.
On Friday, the total market capitalisation of the Adani Group crossed Rs 11 trillion, underpinned by consistent buying from both domestic and international investors.
The conglomerate added Rs 7,039 crore to its market cap on Friday, bringing the total market value of its 10 listed companies to Rs 11.02 trillion, up from Rs 10.96 trillion on Thursday.
Adani Group stocks have recovered significantly from their post Hindenburg lows, adding nearly Rs 5 trillion in market cap since early March 2023.
The group has also recovered from the losses due to the Organised Crime and Corruption Reporting Project (OCCRP) report released in August. Its market cap had fallen to Rs 10.48 trillion on August 31 after the release of the report alleging the promoters of share price and holding manipulation.
First Published: Sep 09 2023 | 1:35 PM IST