Ardour Investment Holding and Emerging Market Investment DMCC, who are part of the promoter group entities, acquired 7.92 crore shares or 2.06% stake in Adani Power between September 26 and November 16.
Following the acquisition, the cumulative shareholding of promoters increased to 71.14%.
In the early part of September, promoter entities Fortitude Trade and Investment Ltd and Emerging Market Investment DMCC had acquired 8.5 crore shares or 2.2% stake in Adani Power, which had taken the cumulative holding of the promoter group to 69.09%.
On Friday, shares of Adani Power ended 0.6% down on the National Stock Exchange at Rs 387.30. So far in 2023, the stock has given more than 29% returns to investors.
For the September quarter, the company had reported robust earnings, with the consolidated net profit surging more than 9 times year-on-year (YoY) to Rs 6,594 crore, and the revenue increased by a whopping 84%.
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