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Promoter stake in Adani Green Energy down at 80.9 per cent after OFS

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

twitter-logo PTI        Last Updated: May 23, 2019  | 18:47 IST
Promoter stake in Adani Green Energy down at 80.9 per cent after OFS
Two promoter entities, Adani Tradeline LLP and Universal Trade and Investment, sold 8.75 crore shares

Adani Green Energy Thursday said its promoters' stake has come down to 80.9 per cent from 86.50 per cent 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 Monday, the company informed that the two promoters together offered 8.75 crore shares, constituting 5.59 per cent of total shareholding, for sale at an offer price of Rs 43 per piece.

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 per cent public shareholding. The two promoters had 86.50 per cent stake in the company as on March 31, 2019.

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