 "Adani share sale offer fully subscribed")
According to Bombay Stock Exchange (BSE) data, the offer got 78.6 lakh bids at 1415 hrs, at an indicative price of Rs 250.79 a share against the floor price of Rs 248. The auction, being conducted through a separate window on the BSE, remained open till 3:30 pm.
Adani Agro Pvt Ltd, one of the promoter group companies of Adani Enterprises with a 8.96 per cent stake, is selling its 70 lakh shares in the company. At full subscription, Adani Agro will raise about Rs 173 crore at the base price of Rs 248 per share.
The shares, that are offered for bidding, amount to 0.64 per cent of company’s total equity shares as on December 31, 2012. Meanwhile, shares of Adani Enterprises were up 1.81 per cent at Rs 247.10 apiece on the BSE at the end of trading for the day.
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