Adani Enterprises is trading lower by 4.4% at Rs 207 ahead of its promoter’s stake sell plan via Offer for Sale (OFS) route on Monday.
“Adani Agro Private Limited, which forms a part of the promoter group of the company, propose to sell 8.5 million equity shares of the company through the OFS route on March 4, 2013,” Adani Enterprises said in a filing.
The seller shall declare the floor price for the sale today (March 1) after the close of trading hours but not late than 1700 hrs, it added.
The promoters of Adani Enterprises held a 77.87% stake in the company as of December 31, 2012 and have until June to lower it to 75% as per regulatory norms.
The stock opened at Rs 215 and hit a low of Rs 205 on NSE. A combined 829,050 shares have changed hands on the counter so far on NSE and BSE.
“Adani Agro Private Limited, which forms a part of the promoter group of the company, propose to sell 8.5 million equity shares of the company through the OFS route on March 4, 2013,” Adani Enterprises said in a filing.
The seller shall declare the floor price for the sale today (March 1) after the close of trading hours but not late than 1700 hrs, it added.
The promoters of Adani Enterprises held a 77.87% stake in the company as of December 31, 2012 and have until June to lower it to 75% as per regulatory norms.
The stock opened at Rs 215 and hit a low of Rs 205 on NSE. A combined 829,050 shares have changed hands on the counter so far on NSE and BSE.
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