Billionaire Gautam Adani-led promoter group has increased stake in two of the group’s listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit by damaging reports. The promoter group has increased stake in flagship Adani Enterprises to 71.93% from 69.87%, according to stock exchange filings.
This is the second time in less than a month that the promoters have raised stake in the flagship firm that incubates new businesses. The promoters had last month increased stake in Adani Enterprises from 67.65% to 69.87%.
The promoter group has also increased stake in Adani Ports and Special Economic Zone from 63.06% to 65.23%, the filings showed.
Resurgent Trade and Investment bought almost 1% stake in Adani Ports and Special Economic Zone in open marktransactions and another 1.2% was purchased by Emerging Market Investment DMCC.
Both are promoter group firms.
In the case of Adani Enterprises, the shares were bought by Kempas Trade and Investment and Infinite Trade and Investment. The filings said the stakes were bought in open market transactions between August 14 and September 8.
The stake increase comes within weeks of the US-based boutique investment firm GQG Partners buying shares in Adani group firms.
GQG has increased its stake in Adani Ports & Special Economic Zone (APSEZ) to 5.03% last month by way of a bulk deal, stock exchange filings showed.