Adani Power falls on preferential issue to promoters at discount
The private power producer has raised over Rs 2,542 crore from the issue of shares to promoters at price of Rs 53.11 per share.
Adani Power is trading lower by 3.3% at Rs 55.35 after the company said that its board has allotted 479 million shares to two promoter group entities at a price of Rs 53.11 per share.
“The company has made allotment of 449.85 million equity shares to Adani Enterprises, a holding company and 28.8 million equity shares to Vinod S. Adani at a price of Rs 53.11 per share on preferential basis,” Adani Power said in a statement.
The private power producer has raised over Rs 2,542 crore from the issue of shares to these two entities.
The stock opened at Rs 57.30 and touched a low of Rs 55 on NSE. A combined 896,380 shares have changed hands on the counter till 1026 hours on NSE and BSE.
“The company has made allotment of 449.85 million equity shares to Adani Enterprises, a holding company and 28.8 million equity shares to Vinod S. Adani at a price of Rs 53.11 per share on preferential basis,” Adani Power said in a statement.
The private power producer has raised over Rs 2,542 crore from the issue of shares to these two entities.
The stock opened at Rs 57.30 and touched a low of Rs 55 on NSE. A combined 896,380 shares have changed hands on the counter till 1026 hours on NSE and BSE.