Adani Power is trading lower by 3.3% at Rs 55.35 after the company said that its board has allotted 479 million shares to two promoter group entities at a price of Rs 53.11 per share.
“The company has made allotment of 449.85 million equity shares to Adani Enterprises, a holding company and 28.8 million equity shares to Vinod S. Adani at a price of Rs 53.11 per share on preferential basis,” Adani Power said in a statement.
The private power producer has raised over Rs 2,542 crore from the issue of shares to these two entities.
The stock opened at Rs 57.30 and touched a low of Rs 55 on NSE. A combined 896,380 shares have changed hands on the counter till 1026 hours on NSE and BSE.
“The company has made allotment of 449.85 million equity shares to Adani Enterprises, a holding company and 28.8 million equity shares to Vinod S. Adani at a price of Rs 53.11 per share on preferential basis,” Adani Power said in a statement.
The private power producer has raised over Rs 2,542 crore from the issue of shares to these two entities.
The stock opened at Rs 57.30 and touched a low of Rs 55 on NSE. A combined 896,380 shares have changed hands on the counter till 1026 hours on NSE and BSE.
