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Last Updated : May 23, 2019 06:11 PM IST | Source: PTI

Promoter stake in Adani Green Energy down at 80.9% after OFS

Adani Tradeline and Universal Trade offered 7,57,13,197 shares and 1,17,86,803 shares, respectively for sale.

Representative image
Representative image

Adani Green Energy on May 23 said its promoters' stake has come down to 80.9 percent from 86.50 percent earlier following an offer for sale.

Two promoter entities, Adani Tradeline LLP and Universal Trade and Investment, sold 8.75 crore shares having face value of Rs 10 each of Adani Green under offer for sale on May 21-22 to meet minimum shareholding norms, the company said in a BSE filing.

On May 20, the company informed that the two promoters together offered 8.75 crore shares, constituting 5.59 percent of total shareholding, for sale at an offer price of Rs 43 per piece.

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Adani Tradeline and Universal Trade offered 7,57,13,197 shares and 1,17,86,803 shares, respectively for sale.

The offer for sale is generally done to increase public holding in the company. All companies are mandated to maintain 25 percent public shareholding. The two promoters had 86.50 percent stake in the company as on March 31, 2019.

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First Published on May 23, 2019 05:59 pm
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