Latest News | IHC Capital's Arm Sells Adani Enterprises Shares for Rs 1,832 Crore

New Delhi, Mar 5 (PTI) Abu Dhabi-based IHC Capital Holding on Wednesday sold more than 84 lakh shares of Adani Enterprises for Rs 1,832 crore through open market transactions.

Diversified group IHC Capital Holding through its subsidiaries -- Green Vitality RSC and Green Energy Investment Holding RSC -- offloaded 84.48 lakh shares or 0.73 per cent stake in Adani Enterprises, as per the block deal data on the BSE.

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The shares were disposed of at an average price of Rs 2,168.1 apiece, taking the combined transaction value to Rs 1,831.82 crore.

Meanwhile, Envestcom Holding RSC Ltd sold the same amount of shares in two tranches at the same price.

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On Wednesday, shares of Adani Enterprises rose 4.57 per cent to close at Rs 2,244.85 apiece on the BSE.

Meanwhile, shares of 10 other Adani group stocks also closed higher, with Adani Green Energy surging more than 10 per cent in tandem with a rally in the equity market.

On Tuesday, FMCG firm Adani Wilmar announced the acquisition of GD Foods Manufacturing, which sells food products like pickles and sauces under the Tops brand.

Similarly, the Competition Commission of India on Tuesday approved Ambuja Cements' proposal to acquire a majority stake in CK Birla group firm Orient Cement Ltd for Rs 8,100 crore.

Also, the fair trade regulator has also granted clearance to Adani Infra to acquire a majority stake in PSP Projects Ltd. Adani Infra is a unit of Adani group's flagship firm Adani Enterprises.

PSP Projects, which has industrial, institutional, residential and luxury projects like the Surat Diamond Bourse, had an order book of Rs 6,546 crore as of September 2024.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)