Adani Green Energy's 8.75 crore shares to be offered for sale on Tuesday
Adani Tradeline, Universal Trade and Investment proposed to sell 7,57,13,197 and 1,17,86,803 equity shares, respectively, at floor price of ₹43 per sharesThe 8.75 crore shares at a face value of ₹10 each constitute 5.59% of the paid-up equity share capital of the company
New Delhi: Adani Green Energy said on Monday that two of its promoters Adani Tradeline LLP and Universal Trade and Investment together would offer 8.75 crore equity at an offer price of ₹43 per piece on Tuesday.
The offer for sale would open for one day on Tuesday, 21 May 2019, stated a BSE filing.
Adani Tradeline LLP and Universal Trade and Investment proposed to sell 7,57,13,197 and 1,17,86,803 equity shares, respectively, at floor price of ₹43 per shares, it added.
The offer for sale is generally done to increase public holding in the company. All companies are mandated to maintain 25% public holding. The promoters of the company had 86.50% of the equity share capital as on 31 March 2019.
The 8.75 crore shares at a face value of ₹10 each constitute 5.59% of the paid-up equity share capital of the company, it said.
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