Adani Enterprises today said the floor price for its promoters’ offer for sale (OFS) of 1.6 crore shares has been fixed at Rs 227 apiece.
The floor price is at nearly 4 per cent premium to the closing price of Rs 219.15 of Adani Enterprises on the BSE.
“The floor price of the sale in terms of SEBI circular shall be Rs 227 per equity share of the company,” Adani Enterprises informed the BSE.
The company had yesterday informed that OFS will take place at the separate window of BSE. It will commence on May 30, 2013 at 9.15 am and close on the same day at 3.30 pm.
As per SEBI’s minimum public shareholding norms, all private sector listed companies need to have at least 25 per cent public shareholding and promoters have been asked to lower their stake to 75 per cent or below by June 2013.