Promoter entity to sell 3.55 cr Adani Power shares on Oct 8
Adani Agro, part of the promoter group of Adani Power, today said it proposes to sell around 3.55 crore equity shares of the private power generating company on October 8, 2012.
Mumbai: Adani Agro, part of the promoter group of Adani Power, today said it proposes to sell around 3.55 crore equity shares of the private power generating company on October 8, 2012.
"Adani Agro Private Limited (the seller), has submitted to BSE a consolidated notice of Offer for Sale of an aggregate of 3,55,77,597 equity shares of face value of Rs 10 each of Adani Power Ltd on October 8, 2012, by promoter through a sale on the separate window provided by the BSE Ltd for this purpose," it said in a filing today.
The sale shall take place at the separate window of the BSE Ltd and shall commence on October 8, 2012 at 9.15 a.M. And shall close the same day at 3.30 p.M. Indian Standard Time, it added.
A minimum of 25 per cent of the equity shares in the sale shall be reserved for mutual funds, it said.
Adani Agro said DSP Merril Lynch will be its broker for the share sale and floor price for the transaction will be declared after the close of trading hours of the exchanges of October 5, 2012.
Shares of Adani Power settled at Rs 55.20 apiece on the BSE today, up 4.84 per cent from the previous close.