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Adani Power Ltd will see heightened activity as its promoter Adani Agro Pvt Ltd plans to sell 1.63 per cent stake in the company, through the offer for sale on Monday. It set a floor price of Rs 54.20 a share for the planned sale of 3.558 crore shares of Adani Power Ltd. The floor price is at a marginal premium over Friday's closing price of Rs 53.5 on the BSE. Promoters currently hold 76.63 per cent stake in Adani Power and to meet SEBI’s minimum public holding criteria the promoter is diluting their stake in the company.
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