Adani Enterprises has rallied 5% to Rs 285, and has recover more than half of yesterday’s 7% fall, after the promoters have fixed Rs 282 as the floor price for selling the company's 23 million shares through offer for sale (OFS) today.
The sale shall take place on the separate window of the stock exchanges. It will commence today at 0915 hrs and close on the same day at 1530 hrs.
"The promoters Adani Agro, Adani Commodities, Vinod S Adani, Rajesh S Adani, Pranav V Adani, Priti G Adani and Shilin R Adani have submitted a notice to sell 23 million equity shares of the face value of Re one only each held by them in the company through the stock exchange mechanism," Adani said in a statement.
"In this regard, the floor price for the sale is Rs 282 per equity share of Adani Enterprises,” it added. Promoters' had 79.96% stake in the company, as on September-end.
The stock opened at Rs 271 on the BSE and has seen a combined 1.5 million shares changing hands on the counter in opening deals on both the exchanges.
