New Delhi: Adani Enterprises Ltd’s offer for sale of 7 million shares was oversubscribed, data on the Bombay Stock Exchange showed on Wednesday.
The share sale offer received 7.86 million cumulative bids at an indicative price of Rs.250.79 apiece. The floor price for the offer was fixed at Rs.248, at which the company would raise at least Rs.173.6 crore.
The offer size is 0.64% of company’s total equity. Shares of Adani Enterprises rose 1.81% to close at Rs.247.10 apiece on Wednesday. The benchmark Sensex fell 0.10% to 19,639.72 points.