Gautam Adani, promoters of Adani Enterprises and companies belonging to the promoter group purchased over two per cent stake in the company from open market between September 2023 and June this year, a statement to stock exchanges noted. 

Adani group chairman Gautam Adani.(ANI)

As per the exchange filing, open market purchases in shares of Adani Enterprises were made between September 8-12, 2023 by Infinity Trade and Investment for O.68% stake, May 10-14, 2024 by Kempas Trade and Investment for 0.42% stake and May 21-June 12, 2024 by Emerging Market Investment DMCC for 0.92% stake. 

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Before acquisitions, total voting capital or shares carrying voting rights that were with the acquirers and the promoter group stood at 71.95 per cent. This has now increased by 2.02 per cent after the open market purchases and reached to 73.95 per cent.

On counting day for Lok Sabha election results, shares of Adani Group fell  25 per cent but have rebounded and made substantial gains in the previous few trading sessions. This year, shares of Adani Enterprises have increased by 12 per cent and the company erased all losses in May this year that were incurred by Hindenburg Research report which came out in January 2023. 

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