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 shares
  • 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

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.

Close