Adani Enterprises shares traded volatile a day after the company’s follow-on public offering was fully subscribed on the final day of the subscription. The scrip opened 0.71% higher before quickly falling 1.22%.
Among the other group stocks, Adani Total Gas Ltd., Adani Power Ltd., Adani Transmission Ltd., and Adani Enterprises Ltd. declined.
Only Adani Wilmar Ltd., Adani Green Energy Ltd. and Adani Ports and SEZ Ltd. advanced among the company stocks.
Adani Ports Completes Acquisition In Indian Oiltanking & IOT Utkal Energy Services
- Adani Ports completes acquisition of 49.38% stake in Indian Oiltanking.
- It also acquired additional 10% stake in its unit IOT Utkal Energy Services.
- Acquisition is well alighed with Adani Ports’ strategy of becoming largest transport utility.
- It had inked agreement on Nov.9 to acquire stake in Indian Oiltanking for Rs 1,050 crore.
Source: Exchange filing
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