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Adani Enterprises, Adani Power slip on D-Street

Adani Enterprises, Adani Power slip on D-Street

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Adani Enterprises, Adani Power slip on D-Street after France-based Total Renewables SAS buys 100% stake of UT

UT is an entity which was disclosed as part of the promoter group of both companies.

Both Adani Enterprises and Adani Power have informed exchanges that 100% shares of Universal Trade and Investments Ltd (“UT”) have been acquired by Total Renewables SAS, France (“Investor”) from Dome Trade and Investment Limited, Mauritius.

UT is an entity which was disclosed as part of the promoter group of both companies.

Notably, UT did not hold any securities in the companies as of January 15, 2021.

With the latest transaction, UT has now become part of the Total Group and is consequently no longer part of the promoter group of the companies mentioned above.

At around 2.09 pm, Adani Enterprises was trading at Rs511.45 per piece down 0.5%. Adani Power was performing at Rs50.25 per piece below 1.86% on Sensex.

Source: indiainfoline
Anand Gupta Editor - EQ Int'l Media Network