Business
Adani group entities swap 86 lakh shares of Adani Enterprises in Rs 2,498 cr block deal
The shares, representing a 0.63 per cent stake in the Ahmedabad-based conglomerate, were picked up by Adani Infra (India) Ltd and Adani Properties, according to data on the National Stock Exchange (NSE).
Adani Properties bought 51.50 lakh shares, while Adani Infra (India) acquired 34.50 lakh shares in the group’s flagship company.
The shares changed hands at an average price of Rs 2,905 apiece, taking the combined deal value to Rs 2,498.30 crore.
On the other side of the trades, promoter group entity Infinite Trade And Investment Ltd sold an equal number of shares at the same price, the data showed.
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Following the sale, Infinite Trade And Investment’s holding in Adani Enterprises has dropped to 1.38 per cent from 2.01 per cent.
However, the transactions will not alter the combined shareholding of the promoters and promoter group entities in the company.
Shares of Adani Enterprises rose 0.57 per cent to close at Rs 2,916.50 apiece on the NSE.
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