Adani Enterprises hits 52-week high as arm acquires 23.5% stake in MIAL
Shares of Adani Enterprises hit a fresh 52-week high of Rs 683, up 7 per cent on the BSE, in the intra-day trade on Monday after Adani Airports completed acquisition of 23.5 per cent stake in Mumbai Airport.
“Adani Airport Holdings (AAHL), the flagship holding company of Adani Group for its airports business and a wholly owned subsidiary of Adani Enterprises, has acquired 23.5 per cent equity stake, i.e. 282 million equity shares of Rs 10 of Mumbai International Airport, from ACSA Global and Bid Services Division (Mauritius) for Rs 1,685.25 crore,” Adani Enterprises said in a regulatory filing.
MIAL is engaged in the business of development, construction and operation of Chhatrapati Shivaji Maharaj International Airport. This acquisition forms part of the transaction pursuant to which AAHL proposes to acquire controlling interest in MIAL, it added.
