Adani Enterprises' share sale offer fully-subscribed
Adani Enterprises' offer for sale to offload 70 lakh shares by one of its promoter group firms has got fully-subscribed ahead of the market closure.
By PTI |
NEW DELHI: Adani Enterprises' offer for sale to offload 70 lakh shares by one of its promoter group firms has got fully-subscribed ahead of the market closure.
According to BSE data, the offer got 78.6 lakh bids at 1415 hrs, at an indicative price of Rs 250.79 a share against the floor price of Rs 248.
The auction, being conducted through a separate window on the BSE, will remain open till 3:30 pm.
Adani Agro Pvt Ltd, one of the promoter group companies of Adani Enterprises with a 8.96 per cent stake, is selling its 70 lakh shares in the company. If the offer is fully subscribed, Adani Agro will raise about Rs 173 crore at the base price of Rs 248 per share.
The shares, that are offered for bidding, amount to 0.64 per cent of company's total equity shares as on December 31, 2012.
Meanwhile, shares of Adani Enterprises were up 1.26 per cent at Rs 245.75 apiece on the BSE in the afternoon trade.
According to BSE data, the offer got 78.6 lakh bids at 1415 hrs, at an indicative price of Rs 250.79 a share against the floor price of Rs 248.
The auction, being conducted through a separate window on the BSE, will remain open till 3:30 pm.
Adani Agro Pvt Ltd, one of the promoter group companies of Adani Enterprises with a 8.96 per cent stake, is selling its 70 lakh shares in the company. If the offer is fully subscribed, Adani Agro will raise about Rs 173 crore at the base price of Rs 248 per share.
The shares, that are offered for bidding, amount to 0.64 per cent of company's total equity shares as on December 31, 2012.
Meanwhile, shares of Adani Enterprises were up 1.26 per cent at Rs 245.75 apiece on the BSE in the afternoon trade.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
