Adani Power rises on promoter stake buy
Vinod Adani has acquired 7.5 million shares representing 0.31% stake for Rs 33.75 crore via market purchase.
Adani Power is trading higher by nearly 4% at Rs 50.25 after the promoter of the company increased its stake in the company through open market transaction.
“Vinod S Adani has acquired 7.5 million shares representing 0.31% stake of its equity share capital for Rs 33.75 crore via market purchase,” Adani Power said in a regulatory filing.
Vinod S Adani bought these shares at an average market price of Rs 44.5 per share on BSE.
“Vinod S Adani was named as a part of the promoter group of Adani Power in its prospectus dated 2009 and did not hold any shares prior to acquisition on March 5, 2013,” the company said.
Promoters hold total 68.32% stake as on December 31, 2012, the shareholding pattern data shows.
The stock opened at Rs 49.50 and hit a high of Rs 51 on BSE. A combined 1.94 million shares have changed hands on the counter so far on NSE and BSE.
“Vinod S Adani has acquired 7.5 million shares representing 0.31% stake of its equity share capital for Rs 33.75 crore via market purchase,” Adani Power said in a regulatory filing.
Vinod S Adani bought these shares at an average market price of Rs 44.5 per share on BSE.
“Vinod S Adani was named as a part of the promoter group of Adani Power in its prospectus dated 2009 and did not hold any shares prior to acquisition on March 5, 2013,” the company said.
Promoters hold total 68.32% stake as on December 31, 2012, the shareholding pattern data shows.
The stock opened at Rs 49.50 and hit a high of Rs 51 on BSE. A combined 1.94 million shares have changed hands on the counter so far on NSE and BSE.