Adani Enterprises, Ahmedabad based diversified company, announced that its wholly owned subsidiary - Adani Airport Holdings (AAHL) has signed Share Subscription Agreement (SPA) with Flemingo Travel Retail (Flemingo) and Mumbai Travel Retail (MTRPL) for the purpose of strategic partnership to operate duty free outlets in airports and seaports.

On completion of the transaction, AAHL will subscribe to 28,49,000 equity shares of face value of Rs 10 each constituting 74% of the share capital of MTRPL on a fully diluted basis for an aggregate investment of Rs 284.90 lakh.

 Shares of the company gained Rs 35.95, or 2.50%, to settle  at  Rs 1,474.10.  The total volume of shares traded  was  353,340 at  the BSE (Thursday).