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Other Deals - Listed Firms

Adani promoter buys 2.22% in flagship AEL for Rs. 6,000-Cr

Mint  

Kempas Trade and Investment Ltd, a promoter entity of Adani Group's listed flagship Adani Enterprises Ltd., has bought a 2.22% stake in the company from the open market between 7 August and 18 August. The stake purchase could be worth INR 6,348.12 crore according to the volume weighted average price of Adani Enterprises during the period. With the latest purchase, Kempas Trade and Investment's total promoter stake in AEL has increased to 69.87% from 67.65% earlier. The company has a market capitalization of around INR 3 trillion. Since March, the promoters of Adani group firms have raised INR 37,441 crore through stake dilutions in various group firms.