Two entities that are part of the promoter group in Adani Power have acquired a 2.2% stake through the open market between September 5 and 25.
Fortitude Trade & Investment bought 65.8 million shares constituting 1.71 % stake in the company between September 5 to September 21. Similarly, Emerging Market Investment DMCC acquired 19.2 million shares in Adani Power which constitutes 0.5% between September 21 and September 25, according to regulatory filings.
Adani Power stock, which opened at Rs 376.80 touched the intra-day high of Rs 379.85 and closed at Rs 373.95, about 0.37 % lower than Wednesday’s close.
Promoters of Adani Green Energy picked up a 2.1% stake, or 33.2 million shares, in the company through the open market. These shares were bought between September 1 and September 21.
Over a month ago, US-based boutique investment firm GQG Partners bought over 8%, or 310 million shares, of Adani Power from the promoters for over $1 billion through two block deals on the stock exchanges.
According to exchange data, the sellers were Adani group promoters — Mauritius-based Worldwide Emerging Market Holding, which held a 5% stake in the company and Afro Asia Trade and Investments Ltd, which held a 6.88% stake. The shares were sold at an average rate of Rs 279.17.