This ad will auto close in 10 seconds

Adani Enterprises sets floor price at Rs 248/share for OFS

Last Updated: Tuesday, February 5, 2013 - 20:24

New Delhi: Adani Enterprises Tuesday set the floor price at Rs 248 per share for selling 70 lakh shares of the company held by Adani Agro, one of the promoter group firms, through offer for sale (OFS) on Wednesday.

"... The floor price for the sale is Rs 248 per equity share of Adani Enterprises," it said in a BSE filing.

At the base price, which is over two percent higher than Tuesday's closing price on the BSE, the promoter group firm could fetch Rs 173.60 crore through OFS, if fully-subscribed.

Shares of Adani Enterprises closed at Rs 242.70 per share, down 1.32 percent over the previous closing, on the BSE Tuesday.

The shares, being offered for bidding, amount to 0.64 percent of company's total equity shares as on December 31, 2012.

The auction, which will be conducted between 9:15 am and 3:30 pm, will be held at a separate window provided by the BSE, it further said.

Currently, Adani Agro holds 8.96 percent stake in Adani Enterprises.


First Published: Tuesday, February 5, 2013 - 20:24
comments powered by Disqus