Adani Ports and Special Economic Zone Ltd. promoter companies have acquired an additional 2.17% stake in the ports operator, from the open market.
The two companies—Resurgent Trade and Investment Ltd. and Emerging Market Investment DMCC—form part of the founder group of Adani's flagship. They have bought 4.68 crore shares in the company, according to an exchange filing.
Following the purchase, the total promoters' stake in the company now stands at 65.23%.
Promoters of Adani Ports include Gautam S Adani and Rajesh S Adani (on behalf of SB Adani Family Trust), Adani Tradeline Pvt., Flourishing Trade And Investment Ltd., Worldwide Emerging Market Holding Ltd., Afro Asia Trade and Investments Ltd., Gautam S Adani, Rajesh S Adani (in individual capacities), Adani Properties Pvt., Adani Rail Infra Pvt., Gelt Bery Trade And Investment Ltd. and Spitze Trade And Investment Ltd.
The stake was bought between Aug. 14 and Sept. 8, the filing said.
Disclaimer: AMG Media Networks Ltd. currently owns 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.