Private electricity utility Adani Power today said it plans to issue shares to promoters on preferential basis.
Financial details were not disclosed. According to a regulatory filing, the board of the company would consider the proposal during its meeting scheduled for March 23.
The board would "consider issue of equity shares to the Promoter/Promoter Group on preferential basis", it added. The company did not immediately respond to query on the proposal.
Adani Power scrip fell 3.61% to close at Rs 44.05 on the BSE. At the end of the October-December quarter, promoters held 68.32% stake in the company. Adani Power reported a consolidated total income of Rs 1,884 crore for the quarter.
