Gautam Adani Increases Stake in Adani Enterprises

Gautam Adani, along with other promoters of Adani Enterprises and companies within the promoter group, have acquired over a 2% stake in the company through open market purchases between September 2023 and June 2024. This strategic move was documented in a statement to stock exchanges.

Details of the Acquisitions of Adani in Adani Enterprises:

The exchange filing detailed the specific periods and entities involved in the open market purchases of Adani Enterprises shares:

• September 8-12, 2023: Infinity Trade and Investment acquired a 0.68% stake.
• May 10-14, 2024: Kempas Trade and Investment purchased a 0.42% stake.
• May 21-June 12, 2024: Emerging Market Investment DMCC bought a 0.92% stake.

Increase in Voting Capital in Adani Enterprises:

Before these acquisitions, the total voting capital or shares with voting rights held by the acquirers and the promoter group stood at 71.95%. The open market purchases increased this by 2.02%, bringing the total to 73.95%.

Stock Performance:

The period leading up to these acquisitions saw significant movement in the stock:

• On the day of the Lok Sabha election results, shares of the Adani Group experienced a 25% sharp decline.
• Despite this, the shares rebounded and saw substantial gains in the following trading sessions.
• Throughout 2023, shares of Adani Enterprises have risen by 12%.
• Following the release of the Hindenburg Research report in January 2023, the company successfully erased all losses incurred in May 2023.

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