Adani Power allots 250 mn shares to Gautam, Rajesh Adani

Shares allotted at a price of Rs 28 apiece

Adani Power Ltd on Tuesday allotted 250 million equity shares worth Rs 700 crore to Adani Group chairman Gautam Adani and managing director Rajesh Adani.

In its filing on BSE on Tuesday, Adani Power told the management committee of Board of Directors of the company has allotted 250 million equity shares to Gautam Adani and Rajesh Adani (on behalf of S.B. Adani family Trust).

The shares were allotted at a price of Rs 28 apiece, including a premium of Rs 18 per share, on preferential basis.

As on December 2015, Promoter and Promoter Group, comprising 10 shareholders, together hold 58.13% or 1,706,565,062 shares of the total 2,935,838,941 shares.