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.