Adani Enterprises jumps as its arm to acquire remaining 51% stake in QBML
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Adani Enterprises is currently trading at Rs. 2269.55, up by 51.65 points or 2.33% from its previous closing of Rs. 2217.90 on the BSE.
The scrip opened at Rs. 2248.00 and has touched a high and low of Rs. 2270.50 and Rs. 2231.00 respectively. So far 41642 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4189.55 on 21-Dec-2022 and a 52 week low of Rs. 1017.10 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 2320.20 and Rs. 2205.30 respectively. The current market cap of the company is Rs. 258210.25 crore.
The promoters holding in the company stood at 72.61%, while Institutions and Non-Institutions held 20.17% and 7.22% respectively.
Adani Enterprises’ wholly owned subsidiary -- AMG Media Networks (AMNL), Quintillion Media (QML), Quint Digital (QDL) and Quintillion Business Media (QBML) have executed a Share Purchase Agreement for the acquisition of remaining 51% stake in QBML. AMNL is already holding 49% stake of QBML.
Acquisition of remaining 51% equity shares of QBML by AMNL from QML. Post-acquisition of 51% stake, QBML will become a wholly-owned subsidiary of AMNL.
Adani Enterprises is the flagship company of Adani Group, one of India’s largest business organisations.
