Adani Enterprises sets floor price at Rs 248/share for OFS

NEW DELHI: Adani Enterprises today set the floor price at Rs 248 per share for selling 70 lakh shares of the company held by Adani Agro, one of the promoter group firms, through offer for sale ( OFS) on Wednesday.

"... the floor price for the sale is Rs 248 per equity share of Adani Enterprises," it said in a BSE filing.

At the base price, which is over two per cent higher than today's closing price on the BSE, the promoter group firm could fetch Rs 173.60 crore through OFS, if fully-subscribed.

Shares of Adani Enterprises closed at Rs 242.70 per share, down 1.32 per cent over the previous closing, on the BSE today.

The shares, being offered for bidding, amount to 0.64 per cent of company's total equity shares as on December 31, 2012.

The auction, which will be conducted between 9:15 am and 3:30 pm, will be held at a separate window provided by the BSE, it further said.

Currently, Adani Agro holds 8.96 per cent stake in Adani Enterprises.