Adani Enterprises share-sale floor price set at Rs 227

To sell about 16 million shares to meet Sebi norms on minimum public shareholding

The founders of Adani Enterprises Ltd have set the floor price at Rs 227 per share to sell about 16 million shares on Thursday to meet the market regulator's directive on minimum public shareholding.

According to the new rules, founders of listed Indian companies cannot own more than 75% of the listed entity. The deadline is June-end.

Adani Enterprises shares closed at Rs 219.55 on Wednesday.