Adani Enterprises offer for sale fully subscribed

The offer for sale of a little over two% stake of Adani Enterprises by its promoters was fully subscribed today.

The 2.3 crore stake sale received bids for 2.38 crore shares, raising Rs 653.17 crore, as per data available with the BSE.

The indicative price for the issue was Rs 283.99.

Adani Enterprises' promoters fixed Rs 282 as the floor price for selling the company's 2.3 crore shares.

The promoters are Adani Agro, Adani Commodities, Vinod S Adani, Rajesh S Adani, Pranav V Adani, Priti G Adani and Shilin R Adani.

Promoters' had 79.96% stake in the company, as on September-end.

DSP Merrill Lynch acted as the sole selling broker for the OFS.

Shares of the company ended at Rs 273.45, up 0.81% from its previous close.