Adani Green Energy raises ₹402 crore through offer for sale1 min read . Updated: 14 Jun 2019, 02:25 PM IST
- At least 25% of the equity should be held by public
- The company came up with OFS to offload equity shares
New Delhi: Adani Green Energy on Friday said it has raised around ₹402 crore through sale of 9.35 crore shares by promoters for maintaining minimum public shareholding norms.
Under the norms, at least 25% of the equity should be held by public. Therefore, the company came up with offer for sale (OFS) to offload equity shares.
Gautam S Adani & Priti G Adani (on behalf of Gautam S Adani Family Trust) and Gautam S Adani & Rajesh S Adani (on behalf of S B Adani Family Trust) sold 9,35,84,300 shares (cumulatively representing 5.98% of paid-up equity share capital) via an OFS, as per a BSE filing.
The floor price for OFS was ₹43 per equity share.
Prior to the OFS, the promoters held 80.90% equity, which was reduced to 74.92% after the transaction concluded Thursday. The OFS opened on 12 June, 2019.
This story has been published from a wire agency feed without modifications to the text.