Adani Enterprises up on higher share sale floor price
Adani Enterprises gained momentum after the promoters set the OFS floor price at Rs 282, a premium of 4%, to Thursday’s closing price.
By ET Online |
MUMBAI: Shares of Adani Enterprises gained momentum after the promoters set the floor price of their offer for sale (OFS) at Rs 282, a premium of 4 per cent, to Thursday’s closing price.
The stock had fallen sharply in last session on concerns that the OFS price may be at discount to market price.
Adani Agro Private Limited, Adani Commodities, Vinod S. Adani, Rajesh S. Adani, Pranav V. Adani, Priti G. Adani and Shilin R. Adani are selling 2.09 per cent stake or 23 million equity shares or of the face value of Re 1 each of Adani Enterprises today.
The promoters are selling their stake in compliance with market regulator SEBI’s minimum shareholding norms.
DSP Merrill Lynch has been appointed as the broker for the OFS.
At 10:15 a.m.; the stock was at Rs 281.40, up Rs 10.40 or 3.84 per cent, on the NSE. It touched a high of Rs 284.40 and a low of Rs 276.55 in trade today.
The stock had fallen sharply in last session on concerns that the OFS price may be at discount to market price.
Adani Agro Private Limited, Adani Commodities, Vinod S. Adani, Rajesh S. Adani, Pranav V. Adani, Priti G. Adani and Shilin R. Adani are selling 2.09 per cent stake or 23 million equity shares or of the face value of Re 1 each of Adani Enterprises today.
The promoters are selling their stake in compliance with market regulator SEBI’s minimum shareholding norms.
DSP Merrill Lynch has been appointed as the broker for the OFS.
At 10:15 a.m.; the stock was at Rs 281.40, up Rs 10.40 or 3.84 per cent, on the NSE. It touched a high of Rs 284.40 and a low of Rs 276.55 in trade today.
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