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Last Updated : Jun 12, 2019 09:39 AM IST | Source: Moneycontrol.com

Adani Green adds 2% as promoters offer stake worth Rs 403 crore

The scrip will be available for Rs 43 per share, and the total value of the stake offered will be Rs 403 crore.

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Shares of Adani Green added 2 percent intraday on June 12 after the promoters of the company decided to sell 5.98 percent stake through an offer for sale (OFS).

The company in its exchange filing said that stake sale is to comply with SEBI's norms on minimum public shareholding which requires listed companies to have at least 25 percent public shareholding.

The promoters of the renewable energy arm of Adani Group held 86.5 percent stake, as on March 31, 2019.

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The OFS will open on June 12 for institutional and high-net-worth individual investors and on June 13 for retail investors.

The scrip will be available for Rs 43 per share, and the total value of the stake offered will be Rs 403 crore.

At 0934 hrs, Adani Green was quoting Rs 43.40, up 2 percent on the BSE.

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First Published on Jun 12, 2019 09:37 am
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