Promoters of Adani Power have raised their stake in the company by 2.21 per cent taking their total holding to 69.09 per cent.
Earlier this month, the promoters had increased their stakes in two other group companies.
Stock exchange filings showed two promoter entities buying a little over 8.50 crore shares between September 5 and September 25.
While Fortitude Trade and Investment bought over 6.58 crore shares or 1.71 per cent of the total equity, Emerging Market Investment DMCC bought 1.92 crore shares or 0.5 per cent. The purchases were worth Rs 3,198 crore.
Shares of Adani Power on Thursday ended at Rs 375.25. It currently has a market capitalisation of Rs 1.44 lakh crore.
Earlier this month, regulatory filings showed two promoter entities buying an additional 2.06 per cent stake in Adani Enterprises Ltd (AEL) from the open market, resulting in the promoter stake rising to 71.93 per cent.
These shares were bought by Kempas Trade and Investment and Infinite Trade and Investment.
Kempas bought 68.99 lakh shares constituting 0.61 per cent of its equity between August 21 and August 22.
Infinite Trade bought 1.6 crore shares (1.46 per cent) between August 30 and September 7.
IHC to make an exit
New Delhi: Abu Dhabi’s International Holding Company, one of the first high-profile investors in billionaire Gautam Adani’s conglomerate, has decided to sell its stake in two Adani companies.
In a disclosure, IHC said it has “entered into a definitive agreement with a buyer to dispose of its FDI investment in Adani Green Energy Ltd and Adani Transmission Ltd”.
It, however, did not name the buyer.
IHC had in April 2022 invested about $500 million each in Adani Green Energy and power company Adani Transmission, and a further $1 billion in Adani Enterprises.
At that time, IHC’s CEO Syed Basar Shueb said Adani was a “long-term investment in India”.
IHC said the Adani disposals were part of its “overall portfolio rebalancing strategy”, and that it was completing regulatory paperwork to complete the transaction.
It made no reference to its stake in Adani Enterprises.
UK auditor
Adani group has switched the auditor of its main UK subsidiaries to smaller London-based firm Ferguson Maidment & Co after previous auditor Crowe UK resigned in March, Reuters quoting FT said.
Ferguson Maidment audited Adani Energy Holdings and its subsidiaries filed with British government agency Companies House last month.
PTI
