Comments
Private port developer Adani Ports and Special Economic Zone Ltd has raised Rs 1,000 crore via an Institutional Placement Programme (IPP) following which the promoters’ shareholding has been reduced to 75 per cent from 77.5 per cent.
On June 5, the company’s board had finalised the issue price at Rs 150 per share. Pursuant to this, Adani Ports has issued 66,657,520 shares of Rs 2 face value at a premium of Rs 148.
Both global and domestic institutional investors participated in the IPP which was oversubscribed 2.6 times of the issue size. It was undertaken to comply with the regulatory requirement of limiting promoters’ holding to 75 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.